ISTANBUL

German pharmaceutical company Merck announced Monday that it has reached an agreement to acquire US-based SpringWorks Therapeutics for $3.9 billion, a move aimed at strengthening its oncology portfolio and expanding its presence in the United States.

SpringWorks Therapeutics, headquartered in Connecticut, has accepted the German company's acquisition offer of $47 per share, Merck said in a statement. Merck will acquire SpringWorks Therapeutics for an equity value of approximately $3.9 billion to expand its sales in the field of cancer diseases.

"The planned acquisition will strengthen the presence of Merck Healthcare in the United States and expand the reach of SpringWorks’ therapeutic innovations to more patients with rare tumors worldwide," it said.

Under the deal, Merck will pay $47 per share in cash, representing a 26% premium to SpringWorks' average share price over the 20 days leading up to February 7, 2025, the day before media reports of the potential acquisition surfaced, the announcement explained.

The acquisition, worth about $3.9 billion, is expected to close in the second half of 2025, pending regulatory approval.

“The agreed acquisition of SpringWorks is a major step in our active portfolio strategy to position Merck as a globally diversified, innovation and technology powerhouse. For our Healthcare sector, it sharpens the focus on rare tumors, accelerates growth, and strengthens our presence in the US,” said Merck Group CEO Belen Garijo.

“Beyond this planned transaction, we will continue to explore M&A opportunities across our three complementary business sectors, always with a firm focus on strategic fit, financial robustness, and long-term value creation," she added.