Verona Pharma plc (VRNA)

Verona Pharma has been approved for acquisition by MSD for $107 per American Depository Share, with a total transaction value of approximately $10 billion. The High Court of Justice of England and Wales has sanctioned the scheme, with the transaction expected to close on October 7, 2025.

Verona Pharma will present two posters at the ERS International Congress 2025 highlighting additional analyses of its Phase 3 ENHANCE studies for Ohtuvayre (ensifentrine), a novel inhaled therapy for COPD maintenance treatment with dual enzyme inhibition capabilities.

Merck reported Q2 2025 results with total sales of $15.8 billion, a 2% decrease from 2024. While KEYTRUDA sales grew 9%, vaccine sales declined significantly. The company beat EPS expectations and provided full-year guidance focusing on strategic acquisitions and cost savings.

Merck has acquired Verona Pharma for $10 billion, primarily to leverage Ohtuvayre, a promising drug for chronic obstructive pulmonary disease (COPD) that could generate $1 billion in annual revenue by 2029, potentially diversifying the company's growth strategy.

Per the FDA, the data submitted by Sanofi (SNY)/Regeneron (REGN) for Dupixent in COPD indication constitutes a major amendment to its previously-submitted data. A final decision is expected by Sep 27.