Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →On June 26, 2024, the Food and Drug Administration approved ensifentrine (Ohtuvayre, Verona Pharma, Inc.), a selective inhibitor of both phosphodiesterase…
Merck said Wednesday that it will buy Verona Pharma for $10 billion to bolster the pharma giant's lung-disease business and help replace the expected loss of…
First quarter post-close: Ohtuvayre sales were $131 million, adversely impacted by the CMS reimbursement change and Medicare deductible resets. Prescription…
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All 13 sources with sentiment breakdown →
Merck agreed to acquire Verona Pharma for $107/ADS cash, total ~$10B transaction value. Adds Ohtuvayre, first-in-class PDE3/PDE4 inhibitor approved June 2024 for COPD maintenance, the first novel inhaled mechanism for COPD in over two decades. Closed Q4 2025. In Q1 2026 — the first full quarter under Merck — Ohtuvayre posted $131M in sales (down 26% sequentially) as a CMS reimbursement change and Medicare deductible resets weighed on the launch; Merck reported >1,600 new patient starts, a March prescription recovery, and expects H2 2026 acceleration.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Merck & Co. Inc. / Verona Pharma plc (this deal) | 2025 | $10.0B | — |
| Merck & Co. Inc. / Acceleron Pharma Inc. | 2021 | $11.5B | 90 |
| Merck & Co. Inc. / Peloton Therapeutics Inc. | 2019 | $2.2B | 88 |
| Merck & Co. Inc. / AstraZeneca PLC | 2017 | $8.5B | 87 |
| Merck & Co. Inc. / Moderna, Inc. | 2022 | $250M | 86 |
| Merck & Co. Inc. / Moderna, Inc. | 2016 | $250M | 84 |
| Merck & Co. Inc. / Eisai Co., Ltd. | 2018 | $5.8B | 83 |
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