Latest news with #DavidZaccardelli
Business Insider
10-07-2025
- Business
- Business Insider
Verona Pharma Stock (VRNA) Soars 20% on $10B Merck Deal
Verona Pharma (VRNA) stock soared on Wednesday after the biopharmaceutical company announced a deal with Merck (MRK). This will have Merck acquire Verona Pharma for $107 per share, a 23.18% premium to the stock's prior closing price. It also brings the total value of the deal to $10 billion. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Merck's interest in Verona Pharma is largely tied to Ohtuvayre, a prescription medication for the maintenance treatment of Chronic Obstructive Pulmonary Disease (COPD) in adults. This will add the drug to its growing cardiopulmonary pipeline and portfolio. Merck also benefits by acquiring a drug that has already been approved by the Food and Drug Administration (FDA). Verona Pharma CEO David Zaccardelli said the deal will 'accelerate the potential of Ohtuvayre.' The Verona Pharma acquisition has received unanimous support from the Boards of Directors at both companies. Now it just needs approval from regulators and shareholders to close. The two companies expect the deal to be completed in the fourth quarter of 2025. Verona Pharma Stock Movement Today Verona Pharma stock was up 20.77% in pre-market trading on Wednesday, following a 4.76% dip yesterday. The shares have increased 87.04% year-to-date and 384.44% over the past 12 months. News of the Merck deal brought heavy trading to VRNA stock today, with some 2.9 million shares traded, compared to a three-month daily average of roughly 1.23 million units. Is Verona Pharma Stock a Buy, Sell, or Hold? Turning to Wall Street, the analysts' consensus rating for Verona Pharma is Strong Buy, based on 11 Buy ratings over the past three months. With that comes an average VRNA stock price target of $118, representing a potential 35.85% upside for the shares.
Mint
09-07-2025
- Business
- Mint
Merck to buy UK's Verona Pharma for $10 billion in bid to diversify beyond cancer treatment
US drugmaker Merck said on Wednesday it will buy UK-based Verona Pharma for about $10 billion. The acquisition will strengthen Merck's respiratory treatments as part of efforts to reduce dependence on its blockbuster cancer treatment. Keytruda, the world's top-selling drug with nearly $30 billion in revenue last year, is nearing key patent expirations from 2028, and Merck has doubled down on efforts to reshape its portfolio. The deal gives the US drugmaker control of Ohtuvayre, a newly approved treatment for chronic obstructive pulmonary disease, commonly called "smoker's lung". In 2024, the drug has generated sales of $42.3 million. 'Ohtuvayre complements and expands our pipeline and portfolio of treatments for cardiopulmonary diseases while delivering near- and long-term growth as well as value for shareholders," Merck & Co. Inc. Chairman and CEO Robert Davis said in a statement. US regulators approved the inhaled medication more than a year ago to treat chronic obstructive pulmonary disease, or COPD, in adults. Verona CEO David Zaccardelli said that Merck's commercial reach can help Ohtuvayre reach more COPD patients. According to the National Institutes of Health, COPD is a progressive disease that can cause shortness of breath, coughing and other problems that make it hard to breathe. It is caused by damage to the airways or other parts of the lung and affects more than 14 million adults in the United States. The acquisition is Rahway, New Jersey-based Merck's first of the year and its largest since its $10.8 billion buyout of Prometheus Biosciences in 2023. The deal has been approved by the boards of both the pharma companies and is expected to close in the fourth quarter. But it still needs Verona Pharma shareholder approval and sanction by the High Court of Justice of England and Wales. As per the deal, Merck will pay $107 per American depository share for Verona, a premium of 23% to the UK company's last close on the Nasdaq.
09-07-2025
- Business
Merck spends $10 billion for Verona, gaining access to its COPD medication
Pharmaceutical giant Merck is buying Verona Pharma, a company that focuses on respiratory diseases, in an approximately $10 billion deal. With the acquisition, Merck gets access to Verona Pharma's chronic obstructive pulmonary disease medication Ohtuvayre. The Food and Drug Administration approved Ohtuvayre in June 2024 for the maintenance treatment of COPD in adults. 'Ohtuvayre complements and expands our pipeline and portfolio of treatments for cardio-pulmonary diseases while delivering near- and long-term growth as well as value for shareholders," Merck Chairman and CEO Robert Davis said in a statement. "We believe Merck's commercial footprint and industry-leading clinical capabilities will help accelerate the potential of Ohtuvayre to reach more patients living with COPD," Verona Pharma President and CEO David Zaccardelli said. The deal, which was approved by the boards of both companies, is expected to close in the fourth quarter. It still needs approval of Verona Pharma shareholders and sanction by the High Court of Justice of England and Wales.
The Hill
09-07-2025
- Business
- The Hill
Merck spends $10 billion for Verona, gaining access to its COPD medication
Pharmaceutical giant Merck is buying Verona Pharma, a company that focuses on respiratory diseases, in an approximately $10 billion deal. The deal gives Merck access to Verona Pharma's new chronic obstructive pulmonary disease medication Ohtuvayre. U.S. regulators approved the inhaled medication more than a year ago to treat chronic obstructive pulmonary disease, or COPD, in adults. 'Ohtuvayre complements and expands our pipeline and portfolio of treatments for cardiopulmonary diseases while delivering near- and long-term growth as well as value for shareholders,' Merck & Co. Inc. Chairman and CEO Robert Davis said in a statement. Verona CEO David Zaccardelli added that Merck's commercial reach can help Ohtuvayre reach more COPD patients. COPD is a progressive disease that can cause shortness of breath, coughing and other problems that make it hard to breathe, according to the National Institutes of Health. It is caused by damage to the airways or other parts of the lung and affects more than 14 million adults in the United States. Ohtuvayre was launched last August as the first commercial product for London-based Verona Pharma. The drug also is being studied as a possible treatment for another chronic respiratory problem that gets worse over time: non-cystic fibrosis bronchiectasis. Merck plans to pay $107 for each Verona Pharma American Depository Share, which represents eight of the company's ordinary shares. The deal announced Wednesday has been approved by the boards of both companies and is expected to close in the fourth quarter. But it still needs Verona Pharma shareholder approval and sanction by the High Court of Justice of England and Wales. Shares of Rahway, New Jersey-based Merck climbed 25 cents to $81.63 before markets opened Wednesday.
San Francisco Chronicle
09-07-2025
- Business
- San Francisco Chronicle
Merck spends $10 billion for Verona, gaining access to its COPD medication
Pharmaceutical giant Merck is buying Verona Pharma, a company that focuses on respiratory diseases, in an approximately $10 billion deal. With the acquisition, Merck gets access to Verona Pharma's chronic obstructive pulmonary disease medication Ohtuvayre. The Food and Drug Administration approved Ohtuvayre in June 2024 for the maintenance treatment of COPD in adults. 'Ohtuvayre complements and expands our pipeline and portfolio of treatments for cardio-pulmonary diseases while delivering near- and long-term growth as well as value for shareholders," Merck Chairman and CEO Robert Davis said in a statement. "We believe Merck's commercial footprint and industry-leading clinical capabilities will help accelerate the potential of Ohtuvayre to reach more patients living with COPD," Verona Pharma President and CEO David Zaccardelli said. The deal, which was approved by the boards of both companies, is expected to close in the fourth quarter. It still needs approval of Verona Pharma shareholders and sanction by the High Court of Justice of England and Wales.
