Merck & Co Inc Acquires Verona Pharma in $10 Billion Deal

Merck & Co Inc, a global healthcare company, has announced its intention to acquire Verona Pharma, a biotech firm specializing in respiratory treatments. The acquisition is valued at approximately $10 billion.

Acquisition Details

• Merck & Co Inc has agreed to acquire Verona Pharma in a deal worth around $10 billion.
• The acquisition is seen as a strategic move by Merck to expand its portfolio and stay competitive in the market.

Market Impact

• The acquisition is expected to boost Merck’s prospects in the HPV vaccine market.
• UBS has reaffirmed its “Buy” rating on Merck following the announcement.
• Merck’s stock price has seen a significant increase in recent days, reflecting the positive impact of the acquisition.
• The company’s market capitalization has also grown, reflecting its growing presence in the pharmaceutical industry.

Financial Details

• The acquisition is valued at approximately $10 billion.
• The financial terms of the deal have not been disclosed.