MSD Acquires Verona Pharma for $10 Billion in Bid to Diversify Portfolio Beyond Keytruda

MSD (Merck) is acquiring UK-based Verona Pharma for approximately $10 billion to diversify its portfolio beyond its top-selling cancer treatment, Keytruda. The acquisition aims to strengthen MSD's respiratory treatment offerings as it prepares for the expiration of Keytruda patents in 2028. MSD has nearly tripled its late-stage pipeline products since 2021 through internal development and acquisitions, including the $11.5 billion purchase of Acceleron in 2021. The Verona acquisition is MSD's largest deal since the $10.8 billion purchase of Prometheus Biosciences in 2023 and includes the recently approved Ohtuvayre treatment for chronic obstructive pulmonary disease.