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Investing.com -- Merck (NSE:PROR) said on Wednesday it has entered into a definitive agreement to acquire Verona Pharma PLC ADR (NASDAQ:VRNA) for $107 per American Depository Share, representing a total transaction value of approximately $10 billion.
The acquisition will add Ohtuvayre (ensifentrine), a first-in-class selective dual inhibitor of phosphodiesterase 3 and 4, to Merck’s cardio-pulmonary pipeline and portfolio.
The FDA approved Ohtuvayre in June 2024 for the maintenance treatment of chronic obstructive pulmonary disease (COPD) in adult patients.
Ohtuvayre is the first novel inhaled mechanism for COPD treatment in more than 20 years, combining bronchodilator and non-steroidal anti-inflammatory effects. The drug is also being evaluated for treating non-cystic fibrosis bronchiectasis.
Robert M. Davis, chairman and CEO of Merck, said the acquisition "reflects the commitment we have to delivering innovative treatments to patients and our ability to execute on our science-led and value-driven business development strategy."
David Zaccardelli, president and CEO of Verona Pharma, noted that since launching Ohtuvayre in August 2024, the company has seen "rapid and accelerating uptake in the U.S."
The transaction was unanimously approved by both companies’ boards of directors and is expected to close in the fourth quarter of 2025, subject to regulatory approvals and other customary conditions.