- Merck has agreed to acquire SpringWorks Therapeutics for $47 per share in cash, valuing the company at approximately $3.9 billion.
- The transaction, expected to close in the second half of 2025, aims to enhance Merck’s position in rare tumors and accelerate growth in the U.S. healthcare market.
Merck has entered into a definitive agreement to acquire SpringWorks Therapeutics, Inc. for $47 per share in cash. The deal values SpringWorks at approximately $3.9 billion, representing a 26% premium to its 20-day volume-weighted average price before transaction speculation began.
The acquisition strengthens Merck’s Healthcare sector focus on rare tumors and expands its footprint in the United States, the world’s largest pharmaceutical market. According to Merck, the transaction aligns with its strategic objective to grow through focused acquisitions and external innovation, as outlined during its Capital Markets Day in October 2024.
Subject to shareholder and regulatory approvals, the transaction is expected to close in the second half of 2025. Upon closing, the acquisition will immediately contribute to Merck’s revenues and is anticipated to be accretive to earnings per share pre (EPS pre) in 2027. Merck plans to fund the acquisition with available cash and new debt, while maintaining its investment-grade credit rating.
SpringWorks’ portfolio includes OGSIVEO (nirogacestat), the first systemic standard-of-care therapy for adults with progressing desmoid tumors, and GOMEKLI (mirdametinib), the only FDA-approved therapy for patients with NF1-associated plexiform neurofibromas. “We have the unique opportunity with SpringWorks to establish a leadership position in rare tumors and build a strong foundation for further investments in this area,” said Peter Guenter, member of the Executive Board and CEO of Healthcare at Merck.
Stay ahead of trends and best practices
