Merck (MRK) is close to a deal to buy lung disease-focused biotech Verona Pharma (VRNA) for roughly $10B, The Financial Times’ Oliver Barnes reports. An acquisition of Verona would be Merck’s largest since its $10.8B takeover of Prometheus Biosciences in 2023, Barnes notes. As part of the deal, Merck would pay $107 per American depository share for Verona, a 23% premium to the biotech’s closing price on Tuesday, according to three people familiar with the matter. A deal could be announced as soon as Wednesday, according to the report.
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