Merck Completes Acquisition of SpringWorks Therapeutics to Accelerate Sustainable Growth of its Healthcare Business
It represents one of the biggest M&A deals in the global biopharma sector so far in 2025
Merck announced that it has closed the acquisition of SpringWorks Therapeutics, Inc., for an enterprise value of $3.4 billion (approximately €3 billion)*, following regulatory clearances and the fulfillment of other customary closing conditions.
The definitive agreement between Merck and SpringWorks, based in Stamford, Connecticut, was announced on 28 April, 2025. It represents one of the biggest M&A deals in the global biopharma sector so far in 2025. The business combination will immediately contribute to Merck’s revenues and is expected to be accretive to the company’s earnings per share pre (EPS pre) by 2027.
“Today, we officially welcome SpringWorks to Merck. The acquisition of SpringWorks illustrates our decisive portfolio approach to further position Merck as a globally diversified science and technology powerhouse,” said Belén Garijo, Chair of the Executive Board and CEO of Merck. “This is the largest acquisition we have made for our Healthcare business sector in nearly 20 years, marking an exciting new chapter for Healthcare. Furthermore, we remain committed to identifying M&A opportunities across our three business sectors, with a focus on Life Science, prioritizing strategic fit, financial robustness, and long-term value creation.”
“This acquisition is a significant step forward in bringing innovation to patients living with rare and often debilitating tumors—many of whom are young and facing a long, uncertain journey with limited treatment options,” said Danny Bar-Zohar, CEO of Healthcare and member of the Executive Board at Merck. “By combining our global reach with SpringWorks’ expertise, we are expanding access to life-changing therapies for patients around the world. At the same time, this move strengthens our foundation for further expansion in rare tumors and adjacent disease areas. I’d like to warmly welcome the SpringWorks team to Merck.”
SpringWorks’ portfolio features two highly innovative products for the treatment of rare tumors in areas of high unmet need where limited treatment options exist. U.S. Food and Drug Administration (FDA)-approved, OGSIVEO® (nirogacestat) is a first-in-class therapy for the treatment of adult patients with progressing desmoid tumors who require systemic treatment. In June 2025, the European Medicine Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion recommending the approval of nirogacestat.
GOMEKLI™ (mirdametinib) is the first and only FDA-approved therapy for the treatment of adult and pediatric patients 2 years of age and older with neurofibromatosis type 1 (NF1) who have symptomatic plexiform neurofibromas (PN) not amenable to complete resection. In May 2025, the CHMP adopted a positive opinion recommending the approval of mirdametinib.
SpringWorks’ portfolio complements Merck’s progress in building a rare tumor business with Merck having worldwide commercialization rights for pimicotinib, an investigational therapy developed by Abbisko Therapeutics Co., Ltd. for patients with tenosynovial giant cell tumor (TGCT). Global regulatory filings for pimicotinib are underway. The joint portfolio will serve a broad range of patients with rare tumors who have high unmet medical needs.
Shares in SpringWorks will no longer be traded on the Nasdaq, with Merck now being the sole owner of SpringWorks. SpringWorks shareholders are being paid US$ 47 per share in cash.
*Based on SpringWorks’ cash balance as of 31 December, 2024
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