Merck (NYSE:MRK) announced Wednesday it has struck a definitive agreement to acquire Verona Pharma PLC ADR (NASDAQ:VRNA) in a transaction valued at approximately $10 billion, or $107 per American Depositary Share.
The move strengthens Merck’s position in the respiratory and cardio-pulmonary space by adding Ohtuvayre (ensifentrine) to its pipeline — a newly approved, first-in-class dual phosphodiesterase 3 and 4 inhibitor designed for the maintenance treatment of chronic obstructive pulmonary disease (COPD).
The FDA approved Ohtuvayre in June 2024, marking the first novel inhaled therapy for COPD in over two decades. The drug provides both bronchodilator and non-steroidal anti-inflammatory effects, offering a differentiated treatment option. It is also under evaluation for non-cystic fibrosis bronchiectasis.
Merck CEO Robert M. Davis said the acquisition highlights the company’s focus on innovation and strategic growth:
“This 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,” Davis stated.
Verona Pharma CEO David Zaccardelli added that since the August 2024 U.S. launch of Ohtuvayre, the product has seen “rapid and accelerating uptake.”
The boards of directors for both companies unanimously approved the agreement. The acquisition is expected to close in the fourth quarter of 2025, pending regulatory clearances and standard closing conditions.
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