(FRANKFURT, 26th) Germany’s pharmaceutical giant Merck is reportedly ending talks to acquire U.S.-based biotech Revolution Medicines (“Revolution”), after the two sides failed to agree on valuation.
The Wall Street Journal, citing sources, said the potential deal could have valued Revolution at around US$30 billion (about RM119.1 billion). The report added that discussions could still resume, or other bidders may emerge.
Merck has been looking for acquisitions that could strengthen its therapeutic portfolio as it prepares for revenue pressure from patent expirations. Over the next five years, patent losses are expected to reduce sales by about US$18 billion (around RM71.5 billion).
Revolution has several compounds in development. Key study results for its leading candidate targeting metastatic pancreatic cancer are expected to be released this summer.
