News Article

Multinational pharmaceutical company Merck is acquiring respiratory disease specialist Verona Pharma at a total transaction value of $10 billion (net $9.8 billion after cash and debt).  

The deal is driven by Ohtuvayre, Verona’s COPD treatment, which Merck anticipates will deliver multibillion-dollar peak revenue in the U.S. and global markets addressing a large unmet need in cardio-pulmonary diseases.  

The deal is expected to close in Q4 2025, subject to shareholder and regulatory approvals. The acquisition reinforces Merck’s portfolio resilience while offering PE stakeholders returns through Verona’s shareholder payout and long-term growth.