Merck will acquire SpringWorks Therapeutics for $3.9 billion, aiming to strengthen its U.S. health care presence and expand rare tumor therapies worldwide.
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.
“The agreed acquisition of SpringWorks is a major step in our active portfolio strategy to position our company as a globally diversified, innovation and technology powerhouse,” said Belén Garijo, chair of the executive board and CEO of Merck, headquartered in Darmstadt, Germany. “For our healthcare sector, it sharpens the focus on rare tumors, accelerates growth, and strengthens our presence in the U.S.”
Merck said SpringWorks’ marketed products will help drive immediate and sustainable revenue growth. The company’s medicines include Ogsiveo, used to treat adults with a rare type of tumor called a desmoid tumor, and Gomekli, approved to treat nerve tumors linked to neurofibromatosis type 1 in adults and children as young as 2.
Ogsiveo’s marketing authorization application is under review by the European Medicines Agency, with a decision expected in the second quarter of 2025. Gomekli received FDA approval in February 2025 based on positive data from SpringWorks’ Phase 2b ReNeu trial, which demonstrated durable tumor volume reductions and a manageable safety profile.
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Peter Guenter, CEO of Healthcare at Merck, said the acquisition would establish a leadership position in rare tumors. “Together, our company and SpringWorks are the perfect combination to improve outcomes for patients with rare tumors and bring therapeutic innovations to more patients worldwide while building on and reinforcing the early success of SpringWorks in the United States,” he said.
SpringWorks CEO Saqib Islam said joining Merck will create new opportunities to expand the company’s therapies to global markets.
“We believe that by joining forces with Merck, Darmstadt, Germany, we are not only creating significant, immediate value for our stakeholders, but we will also be able to leverage their resources and expertise to build a brighter future for the patient communities we seek to serve while also creating new opportunities for SpringWorks employees as part of a global organization,” Islam said.
The boards of directors of both Merck and SpringWorks have unanimously approved the transaction. The deal is expected to close in the second half of 2025, subject to closing conditions, including approval by SpringWorks’ shareholders and regulatory authorities.
