Merck KGaA, a German science and technology company, announced Monday that it has entered into a definitive agreement to acquire SpringWorks Therapeutics, a U.S. biopharmaceutical company focused on severe rare diseases and cancer, for $47 per share in cash, valuing the company at approximately $3.9 billion.
The acquisition is intended to immediately add revenue and accelerate mid- to long-term growth for Merck’s health care business, the companies said in separate press releases.
Merck, which operates its health care division as EMD Serono in the United States and Canada, said the deal will strengthen its presence in the U.S. pharmaceutical market and expand access to SpringWorks’ treatments to more patients worldwide….