Overview
- Financial Times reporting, cited by Benzinga, says Merck is in talks to buy Revolution Medicines for $28–$32 billion, with any potential tie‑up described as weeks away and following earlier reports of multiple bidders.
- Revolution shares rose about 4.6% Thursday and then jumped roughly 15% overnight to around $123.65 after the Merck report.
- The surge followed sharp swings a day earlier when the stock spiked nearly 29% on a Wall Street Journal report about AbbVie before retreating after AbbVie told Reuters it was not in discussions.
- AbbVie separately cut its 2025 outlook, flagging a $1.3 billion in‑process R&D charge and guiding adjusted EPS to $9.90–$9.94, while a Wolfe Research downgrade added pressure to the shares.
- Revolution is a clinical‑stage developer of RAS‑targeting cancer therapies and earlier this year secured a $2 billion funding partnership with Royalty Pharma to advance its programs.