German Company in $3.9 Billion Deal to Buy US Biotech Firm SpringWorks

Merck will acquire SpringWorks Therapeutics for $3.9 billion, aiming to strengthen its U.S. health care presence and expand rare tumor therapies worldwide.

A logo of drugs and chemicals group Merck in Darmstadt, Germany, in a file photo. Ralph Orlowski/Reuters

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.