Merck concludes SpringWorks acquisition for $3.4bn
The merger, announced in April 2025, will positively impact Merck's financial position by contributing to revenues immediately, and is anticipated to be accretive to its earnings per share by 2027.
Merck will add two SpringWorks' products targeting rare tumours with limited treatment options.
Ogsiveo (nirogacestat) is approved by the Food and Drug Administration (FDA) for adults with progressing desmoid tumours requiring systemic treatment. The European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) also recommended its approval in June 2025.
Gomekli (mirdametinib) is approved by the FDA for neurofibromatosis type 1 (NF1)-related symptomatic plexiform neurofibromas (PN) in adults and children aged two years and above deemed unsuitable for complete resection. Mirdametinib also received a positive opinion from CHMP in May 2025.
Merck executive board chair and CEO Belén Garijo stated: 'The acquisition of SpringWorks illustrates our decisive portfolio approach to further position Merck as a globally diversified science and technology powerhouse.
'This is the largest acquisition we have made for our healthcare business sector in nearly 20 years, marking an exciting new chapter. Furthermore, we remain committed to identifying mergers and acquisitions opportunities across our three business sectors, with a focus on life science, prioritising strategic fit, financial robustness and long-term value creation.'
The integration of SpringWorks' portfolio enhances Merck's strategic focus on developing treatments for rare tumours, including commercialisation rights for pimicotinib developed by Abbisko Therapeutics aimed at tenosynovial giant cell tumour patients.
As a result of this transaction, trading of SpringWorks shares on Nasdaq has ceased, with shareholders receiving $47 per share in cash from Merck.
"Merck concludes SpringWorks acquisition for $3.4bn" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand.
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Telix Therapeutics: Reinvesting earnings to accelerate late-stage pipeline Of the total R&D investment, 54% ($43.9 million) was invested in the therapeutics pipeline. Milestones achieved include: TLX591 (177Lu-rosopatamab tetraxetan): Completed target enrollment of 30 patients for Part 1 of the Phase 3 study in advanced metastatic castration resistant prostate cancer (mCRPC). The trial has received regulatory approval to proceed in Australia, China, Canada, New Zealand, Turkey and Japan. TLX592 (225Ac-PSMA-RADmAb): Approval to commence a Phase 1, first-in-human therapeutic study of a targeted alpha therapy in advanced mCRPC. TLX101 (131I-iodofalan, or 131I-IPA): Approval to commence IPAX BrIGHT, an international pivotal trial, to commence at Australian sites initially. TLX090 (153Sm-DOTMP): Investigational New Drug (IND) application approved for a Phase 1 bridging study for Telix's therapeutic candidate for the palliation of bone pain in patients with osteoblastic metastatic disease to the bone. Commentary Managing Director and Group CEO, Dr. Christian Behrenbruch, commented on the result: 'Telix continues to deliver strong revenue growth while building a foundation for the future. The first half of 2025 was a period of rapid transformation as we expanded our global manufacturing operations, invested in launching new products in new markets, and accelerated the development of our therapeutic pipeline. These investments have positioned Telix for sustainable, long-term growth, while our diversified business provides multiple drivers of success. To generate future revenue growth, we are confident in securing product approvals for Pixclara and Zircaix while advancing geographic and indication expansion for the PSMA portfolio.' Summary Group financial results H1 2025 H1 2024 US$M US$M Revenue 390.4 239.6 Cost of sales (181.8 ) (82.4 ) Gross profit 208.6 157.2 Research and development (R&D) (81.6 ) (55.4 ) Selling and marketing (49.0 ) (24.6 ) Manufacturing and distribution (18.8 ) (8.4 ) General and administration (47.7 ) (39.2 ) Other losses (net) (1.1 ) (1.9 ) Operating profit 10.4 27.7 Finance income 3.6 0.9 Finance costs (18.8 ) (5.7 ) (Loss)/profit before tax (4.8 ) 22.9 Adjusted EBITDA 21.1 37.1 Cash from operating activities 17.7 23.3 Guidance Telix confirms FY 2025 revenue guidance of US$770 million to US$800 million11. Guidance reflects revenue from Illuccix sales in jurisdictions with a marketing authorization, and 11 months of revenue contribution from RLS12. Telix confirms R&D expenditure guidance, expecting a year-over-year increased investment range for FY 2025 of 20% to 25% compared to FY 2024. lnvestor call An investor webcast and conference call will be held at 9.30am AEST on Thursday 21 August 2025 (7.30pm EDT Wednesday 20 August 2025). Participants can register for the webcast by clicking here: or the teleconference here: About Telix Pharmaceuticals Limited Telix is a biopharmaceutical company focused on the development and commercialization of therapeutic and diagnostic radiopharmaceuticals and associated medical technologies. Telix is headquartered in Melbourne, Australia, with international operations in the United States, United Kingdom, Canada, Europe (Belgium and Switzerland), Brazil and Japan. Telix is developing a portfolio of clinical and commercial stage products that aims to address significant unmet medical needs in oncology and rare diseases. Telix is listed on the Australian Securities Exchange (ASX: TLX) and the Nasdaq Global Select Market (NASDAQ: TLX). Visit for further information about Telix, including details of the latest share price, ASX and U.S. Securities and Exchange Commission (SEC) filings, investor and analyst presentations, news releases, event details and other publications that may be of interest. You can also follow Telix on LinkedIn, X and Facebook. Telix Investor Relations (Global) Ms. Kyahn WilliamsonTelix Pharmaceuticals LimitedSVP Investor Relations and Corporate Communications Email: Telix Investor Relations (U.S.) Ms. Annie KasparianTelix Pharmaceuticals LimitedDirector Investor Relations and Corporate Communications Email: Guidance Disclaimer The stated revenue guidance is based on expected global and domestic economic conditions and is subject to known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially. As such, investors are cautioned not to place undue reliance on this guidance and in particular Telix cannot guarantee a particular result. In compiling financial forecasts, a number of key variables that may have a significant impact on guidance have been identified and are listed below. Key variables that could cause actual results to differ materially include: the success and timing of research and development activities; decisions by regulatory authorities regarding approval of our products as well as their decisions regarding label claims; competitive developments affecting our products; the ability to successfully market new and existing products; difficulties or delays in manufacturing; trade buying patterns and fluctuations in interest and currency exchange rates; legislation or regulations that affect product production, distribution, pricing, reimbursement, access or tax; acquisitions and divestitures; research collaborations; litigation or government investigations; and Telix's ability to protect its patents and other intellectual property. This announcement has been authorized for release by the Telix Pharmaceuticals Limited Board of Directors Legal Notices Cautionary Statement Regarding Forward-Looking Statements. You should read this announcement together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX), U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 20-F filed with the SEC, or on our website. The information contained in this announcement is not intended to be an offer for subscription, invitation or recommendation with respect to securities of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. The information and opinions contained in this announcement are subject to change without notification. To the maximum extent permitted by law, Telix disclaims any obligation or undertaking to update or revise any information or opinions contained in this announcement, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in the course of this announcement. This announcement may contain forward-looking statements, including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as 'may', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'believe', 'outlook', 'forecast' and 'guidance', or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix's good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix's business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the contextof Telix's business, forward-looking statements may include, but are not limited to, statements about: the initiation, timing, progress, completion and results of Telix's preclinical and clinical trials, and Telix's research and development programs; Telix's ability to advance product candidates into, enroll and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for Telix's product candidates, manufacturing activities and product marketing activities; Telix's sales, marketing and distribution and manufacturing capabilities and strategies; the commercialization of Telix's product candidates, if or when they have been approved; Telix's ability to obtain an adequate supply of raw materials at reasonable costs for its products and product candidates; estimates of Telix's expenses, future revenues and capital requirements; Telix's financial performance; developments relating to Telix's competitors and industry; the anticipated impact of U.S. and foreign tariffs and other macroeconomic conditions on Telix's business; and the pricing and reimbursement of Telix's product candidates, if and after they have been approved. Telix's actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements. Trademarks and Trade Names. All trademarks and trade names referenced in this press release are the property of Telix Pharmaceuticals Limited (Telix) or, where applicable, the property of their respective owners. For convenience, trademarks and trade names may appear without the ® or ™ symbols. Such omissions are not intended to indicate any waiver of rights by Telix or the respective owners. Trademark registration status may vary from country to country. Telix does not intend the use or display of any third-party trademarks or trade names to imply any affiliation with, endorsement by, or sponsorship from those third parties. ©2025 Telix Pharmaceuticals Limited. All rights reserved. See summary Group financial results table at end of this document. Group performance includes Telix Precision Medicine, Telix Therapeutics and Telix Manufacturing Solutions (TMS). All comparisons to H1 2024 results. FY 2025 revenue guidance of US$770 million to US$800 million. Earnings before interest, tax, depreciation and amortization. Increased investment range for FY 2025 expected to be 20% to 25% compared to FY 2024. Launch and brand names subject to final regulatory approval. RLS network is comprised of 28 locations across the U.S. Positron emission tomography. Single photon emission computed tomography. Refer to ASX disclosures 20 February 2025. See Guidance Disclaimer for further information.
