MSD to Acquire Verona Pharma for $10 Billion
MSD, known as Merck & Co. in the US and Canada, recently announced it will acquire Verona Pharma, a biopharmaceutical company focused on respiratory diseases, for approximately $10 billion.
MSD (Merck & Co.) is acquiring Ohtuvayre (ensifentrine), a new type of medicine that blocks two enzymes involved in lung disease. Approved by the US FDA in June 2024, Ohtuvayre is used to help adults manage chronic obstructive pulmonary disease (COPD). It is the first new inhaled treatment for COPD in over 20 years, offering both airway-opening and anti-inflammatory benefits without steroids. Ohtuvayre is also being studied as a possible treatment for non-cystic fibrosis bronchiectasis.
“This acquisition of Verona Pharma 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,” said Robert M. Davis, Chairman and CEO, MSD. “Ohtuvayre complements and expands our pipeline and portfolio of treatments for cardio-pulmonary diseases while delivering near- and long-term growth as well as value for shareholders. This novel, first-in-class treatment addresses an important unmet need for COPD patients persistently symptomatic based on its unique combination of bronchodilatory and non-steroidal anti-inflammatory effects. We look forward to welcoming the talented Verona Pharma team to MSD.”
“Today’s announced agreement with MSD is the culmination of years of focus and determination by the Verona Pharma team advancing Ohtuvayre, the first novel inhaled mechanism for the maintenance treatment of COPD in two decades,” said David Zaccardelli, President and CEO, Verona Pharma. “Since launching Ohtuvayre in August 2024 we have seen rapid and accelerating uptake in the US. We believe MSD’s commercial footprint and industry-leading clinical capabilities will help accelerate the potential of Ohtuvayre to reach more patients living with COPD. This agreement will enable the strong launch trajectory of this important medicine and provides value to Verona Pharma shareholders.”
The boards of both MSD and Verona Pharma have unanimously approved the deal, which will be carried out under UK law. The acquisition still needs approval from antitrust regulators, Verona Pharma shareholders, and the High Court in England and Wales, along with other standard requirements. It is expected to be completed in the fourth quarter of 2025. Most of the purchase price for Ohtuvayre will be recorded as an intangible asset and gradually written off over the product’s lifetime.
