US pharma giant Merck is acquiring London-based Verona Pharma for £7.5 billion, gaining access to the newly approved COPD treatment Ohtuvayre as part of a strategic shift to diversify beyond its cancer blockbuster Keytruda ahead of looming patent expiries.
US pharmaceutical giant Merck is set to acquire London-based biotech company Verona Pharma for approximately £7.5 billion ($10 billion), marking a significant expansion of Merck’s portfolio in respiratory medicine. Verona Pharma, a specialist in lung diseases, developed Ohtuvayre (ensifentrine), a newly approved inhaled treatment for chronic obstructive pulmonary disease (COPD), commonly known as ‘smoker’s lung’. This acquisition signals Merck’s strategic pivot to diversify its offerings amid looming patent expirations on its blockbuster cancer drug, Keytruda, which generated over £20 billion in revenue last year but faces critical patent expiry starting in 2028.
Ohtuvayre, approved by US regulators in June 2024, is Verona’s first commercial product and has swiftly gained traction with over 25,000 prescriptions filled in the US alone. The drug is a first-in-class selective dual inhibitor of phosphodiesterase 3 and 4 (PDE3 and PDE4), designed for maintenance treatment of COPD in adults. Analysts estimate that its sales could reach up to $4 billion annually by the mid-2030s, reflecting strong growth potential within Merck’s expanding respiratory portfolio. The therapy is also under investigation for treating other respiratory conditions such as non-cystic fibrosis bronchiectasis, highlighting additional development avenues.
Founded in 2005 and headquartered in London, Verona Pharma is listed on the New York Stock Exchange. Following the announcement of the acquisition, Verona’s shares surged by over 20 percent to $104.80, reflecting investor confidence in the deal and the future prospects of Ohtuvayre. Merck's acquisition of Verona represents its largest deal since the £8 billion acquisition of Prometheus Biosciences in 2023 and is its first significant buyout of 2025.
This deal underscores Merck’s broader strategy to reduce its dependency on Keytruda by bolstering its presence in therapeutic areas outside oncology, particularly respiratory diseases, which represent a substantial unmet medical need. COPD alone affects more than 14 million adults in the US and constitutes one of the leading causes of death worldwide. By integrating Verona’s innovative respiratory treatments, Merck aims to diversify its revenue streams and ensure sustainable growth amid an evolving pharmaceutical landscape.
While Merck has highlighted this acquisition as pivotal for the company’s future, market analysts will be closely watching how successfully it integrates Verona’s pipeline and expands Ohtuvayre’s market penetration amid competitive pressures in respiratory drug development.
📌 Reference Map:
- Paragraph 1 – [1], [2], [4], [5], [7]
- Paragraph 2 – [2], [3], [6]
- Paragraph 3 – [1], [6]
- Paragraph 4 – [1], [3], [5], [7]
Source: Noah Wire Services
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The narrative is fresh, with the earliest known publication date being July 9, 2025. Multiple reputable outlets, including Reuters ([reuters.com](https://www.reuters.com/business/healthcare-pharmaceuticals/merck-nears-10-billion-deal-respiratory-drugmaker-verona-ft-reports-2025-07-09/?utm_source=openai)), Financial Times ([ft.com](https://www.ft.com/content/bf1c2253-15b3-426a-975d-15ddca1d84a5?utm_source=openai)), and Associated Press ([apnews.com](https://apnews.com/article/adcb220a202e33de8f93441dbd0eb8df?utm_source=openai)), have reported on this acquisition on the same date. The presence of a press release from Merck ([merck.com](https://www.merck.com/news/merck-to-acquire-verona-pharma-expanding-its-portfolio-to-include-ohtuvayre-ensifentrine-a-first-in-class-copd-maintenance-treatment-for-adults-and-expected-to-drive-growth-into-the-next-dec/?utm_source=openai)) indicates a high freshness score. No discrepancies in figures, dates, or quotes were found. The narrative has not appeared more than 7 days earlier. The inclusion of updated data alongside older material does not affect the freshness score.
Quotes check
Score:
10
Notes:
Direct quotes from Merck's CEO Robert M. Davis and Verona Pharma's CEO David Zaccardelli are consistent across multiple reputable sources, including Reuters ([reuters.com](https://www.reuters.com/business/healthcare-pharmaceuticals/merck-nears-10-billion-deal-respiratory-drugmaker-verona-ft-reports-2025-07-09/?utm_source=openai)) and Associated Press ([apnews.com](https://apnews.com/article/adcb220a202e33de8f93441dbd0eb8df?utm_source=openai)). No variations in wording were found, indicating the quotes are accurately attributed.
Source reliability
Score:
10
Notes:
The narrative originates from reputable organisations, including Reuters, Financial Times, and Associated Press, all known for their journalistic integrity. The press release from Merck ([merck.com](https://www.merck.com/news/merck-to-acquire-verona-pharma-expanding-its-portfolio-to-include-ohtuvayre-ensifentrine-a-first-in-class-copd-maintenance-treatment-for-adults-and-expected-to-drive-growth-into-the-next-dec/?utm_source=openai)) further supports the reliability of the information.
Plausability check
Score:
10
Notes:
The acquisition of Verona Pharma by Merck is plausible and aligns with Merck's strategic goals to diversify its portfolio amid the impending patent expiration of its cancer drug Keytruda. The reported figures, such as the $10 billion acquisition price and the $107 per share offer, are consistent across multiple reputable sources. The narrative includes specific factual anchors, such as names, institutions, and dates, enhancing its credibility. The language and tone are consistent with corporate communications, and the structure is focused on the acquisition details without excessive or off-topic information.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative is fresh, with consistent and accurate quotes from reputable sources. The information originates from reliable organisations, and the acquisition details are plausible and well-supported by specific facts. No credibility risks were identified.
