Verona Pharma spent years courting Merck before the two companies came to terms on the second-largest biotech buyout of the year. There were no other formal bidders during the process, according to new details disclosed in regulatory filings on Tuesday. Merck announced in July that it was buying the respiratory drugmaker for $10 billion. Merck was the only bidder for the commercial-stage company, similar to Sanofi’s $9.5 billion acquisition of Blueprint Medicines and Johnson & Johnson’s $14.6 billion takeover of Intra-Cellular Therapies. Those are the three largest biopharma deals of the year so far.
Read the full article: Merck Was the Only Bidder for Verona Before the $10B Buyout //
Source: https://endpoints.news/merck-was-the-only-bidder-for-verona-before-the-10b-buyout/