Merck KGaA in Advanced Talks to Acquire SpringWorks Therapeutics

German pharmaceutical giant Merck KGaA has confirmed it is in advanced discussions to acquire US-based SpringWorks Therapeutics, a biotech firm specializing in cancer and rare disease treatments. The potential deal, which could be finalized in the coming weeks, sent SpringWorks shares soaring by 36%. While no binding agreement has been reached, the acquisition would bolster Merck's oncology pipeline, particularly with SpringWorks' FDA-approved drug Ogsiveo for desmoid tumors. However, both companies caution that critical conditions remain unmet, and other potential buyers may still emerge.

Sources: Reuters, Bloomberg, Investopedia