Pharmaceutical Giant Merck is Buying Verona Pharma in a $10 Billion Deal

Pharmaceutical giant Merck is buying Verona Pharma, a company that focuses on respiratory diseases, in an approximately $10 billion deal.

The deal gives Merck access to Verona Pharma’s new chronic obstructive pulmonary disease medication Ohtuvayre. U.S. regulators approved the inhaled medication more than a year ago to treat chronic obstructive pulmonary disease, or COPD, in adults.

“Ohtuvayre complements and expands our pipeline and portfolio of treatments for cardiopulmonary diseases while delivering near- and long-term growth as well as value for shareholders,” Merck & Co. Inc. Chairman and CEO Robert Davis said in a statement.

Read more at AP News