Merck KGaA Darmstadt Germany to acquire SpringWorks Therapeutics
New England Council member, Merck KGaA Darmstadt Germany, recently announced plans to acquire a Connecticut-based bioscience company, SpringWorks Therapeutics. The deal is valued at $3.9 billion, and Merck will pay $47 per share in cash.
SpringWorks Therapeutics is a commercial-stage biotech based in Stamford, Connecticut, developing treatments for rare diseases and cancers. The company’s portfolio includes rare tumor treatments that complement Merck’s developed therapies.
“We have the unique opportunity with SpringWorks to establish a leadership position in rare tumors and build a strong foundation for further investments in this area, where a large unmet medical need exists. 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,” said Peter Guenter, member of the Executive Board and CEO of Healthcare at Merck KGaA, Darmstadt, Germany.
The New England Council congratulates Merck on this acquisition, which will strengthen the company’s healthcare presence in the US and connect more patients with SpringWorks’ therapeutic innovations.
Read more in Merck’s press release, Reuters, and the Hartford Business Journal.