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Merck KGaA closes in on SpringWorks deal at $3.5B price point. The Endpoints article reported on the late-stage M&A negotiations between the German pharma and…
Germany's Merck KGaA said Monday it would buy SpringWorks Therapeutics for $47 a share in cash, a deal with an equity value of nearly $4 billion. The…
Merck KGaA completes $3.4B SpringWorks acquisition gaining two first-in-class rare oncology drugs; largest healthcare deal by the company in nearly 20 years
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Merck KGaA, Darmstadt, Germany acquired SpringWorks Therapeutics (Nasdaq: SWTX) in an all-cash transaction at $47.00 per share, for an equity value of approximately $3.9 billion and an enterprise value of about $3.4 billion (~EUR 3.0 billion) net of SpringWorks' cash. Announced April 28, 2025 and completed July 1, 2025 following regulatory clearances, it is Merck KGaA's largest Healthcare-sector acquisition in nearly two decades. The deal builds a rare-tumor franchise around two FDA-approved commercial products: Ogsiveo (nirogacestat), the first-in-disease systemic therapy for adults with progressing desmoid tumors, and Gomekli (mirdametinib), the first and only FDA-approved therapy for adult and pediatric NF1 patients with symptomatic plexiform neurofibromas not amenable to complete resection. The acquisition is expected to contribute to revenue immediately and to be accretive to EPS pre by 2027. Both assets advanced in the EU around closing: CHMP adopted positive opinions for mirdametinib (May 2025) and nirogacestat (June 2025).
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Merck KGaA / SpringWorks Therapeutics (this deal) | 2025 | $3.4B | 72 |
| Merck KGaA / Millipore Corporation | 2010 | $7.2B | 88 |
| Merck KGaA / Sigma-Aldrich Corporation | 2014 | $17.0B | 80 |
| Merck KGaA / Versum Materials | 2019 | $5.8B | 80 |
| Merck KGaA / Serono SA | 2006 | $13.2B | 74 |
| Merck KGaA / Threshold Pharmaceuticals, Inc. | 2012 | $550M | — |
| Merck KGaA / Debiopharm | 2021 | $1.1B | — |
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