Merck Finalizes $3.4 Billion Acquisition of SpringWorks Therapeutics to Strengthen Rare Tumor Portfolio and Drive Sustainable Healthcare Growth
Merck, a global leader in science and technology, today announced the successful completion of its acquisition of SpringWorks Therapeutics, Inc. for an enterprise value of $3.4 billion (approximately €3 billion), following all required regulatory approvals and the satisfaction of customary closing conditions. The deal, first announced on April 28, 2025, represents one of the most significant mergers in the global biopharmaceutical sector this year.
Headquartered in Stamford, Connecticut, SpringWorks brings to Merck a highly innovative portfolio focused on rare tumor treatments. The transaction marks Merck’s largest acquisition in its Healthcare business sector in nearly two decades and is expected to have an immediate positive impact on company revenues. Furthermore, it is anticipated to be accretive to Merck’s earnings per share (EPS pre) starting in 2027.
“Today, we officially welcome SpringWorks to the Merck family,” said Belén Garijo, Chair of the Executive Board and CEO of Merck. “The acquisition of SpringWorks exemplifies our decisive portfolio strategy and further strengthens our position as a globally diversified science and technology powerhouse. This acquisition is not only transformative for our Healthcare business but also underscores our commitment to identifying and pursuing value-creating M&A opportunities across all three of our business sectors—with a particular emphasis on strategic fit, financial strength, and long-term sustainability.”
Danny Bar-Zohar, CEO of Healthcare and member of the Executive Board at Merck, emphasized the patient-centric focus of the acquisition, stating, “This is a significant step in advancing innovative solutions for patients living with rare and often debilitating tumors. Many of these patients are young and face long, uncertain treatment journeys. By integrating SpringWorks’ pioneering work into Merck’s global infrastructure, we aim to improve access to life-changing therapies and accelerate progress in tackling rare tumors and related diseases. We are thrilled to welcome the SpringWorks team into our organization.”
SpringWorks Therapeutics is known for its deep focus on developing therapies for rare oncology indications. Its portfolio includes two breakthrough therapies that have received approval from the U.S. Food and Drug Administration (FDA) and are currently under review in Europe.
The first, OGSIVEO® (nirogacestat), is a first-in-class gamma-secretase inhibitor developed for the treatment of adult patients with progressing desmoid tumors who require systemic therapy. This rare and often aggressive soft-tissue tumor can cause significant pain and disability. The FDA approved OGSIVEO in 2023, making it the first approved therapy specifically for this indication. More recently, in June 2025, the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) issued a positive opinion recommending its approval in Europe.
The second asset, GOMEKLI™ (mirdametinib), is a selective MEK1/2 inhibitor and the first and only FDA-approved therapy for treating neurofibromatosis type 1 (NF1) in both adult and pediatric patients aged two and older. The therapy is indicated for patients with symptomatic plexiform neurofibromas (PN) that cannot be completely surgically removed. In May 2025, the CHMP also adopted a positive opinion recommending its approval, further enhancing its global prospects.
These two products will become key pillars in Merck’s growing rare tumor business, complementing its existing pipeline and partnerships. Notably, Merck already holds global commercialization rights for pimicotinib, an investigational CSF-1R inhibitor developed by Abbisko Therapeutics Co., Ltd., for the treatment of tenosynovial giant cell tumor (TGCT). Regulatory submissions for pimicotinib are underway, and if approved, the drug will further solidify Merck’s presence in the rare tumor space.
With this acquisition, Merck gains not only a strong therapeutic portfolio but also SpringWorks’ scientific talent and innovative capabilities. The combined resources and infrastructure are expected to enhance development, accelerate market penetration, and support the expansion into adjacent therapeutic areas with high unmet need.
As part of the acquisition agreement, SpringWorks shareholders will receive $47 per share in cash. With the deal finalized, SpringWorks’ common stock has ceased trading on the Nasdaq, and the company is now a wholly owned subsidiary of Merck.
By strategically investing in rare disease and oncology innovation, Merck is reinforcing its long-term commitment to delivering impactful therapies to patients worldwide. The integration of SpringWorks into Merck’s healthcare ecosystem is a key milestone in its mission to sustainably grow its healthcare business while delivering medical breakthroughs in underserved areas.
As the rare tumor market continues to grow in importance due to increasing diagnosis rates, better understanding of tumor biology, and rising demand for targeted therapies, Merck’s acquisition of SpringWorks positions it at the forefront of this high-potential segment. With expanded capabilities, global reach, and a renewed focus on innovation, Merck is well-poised to shape the future of rare oncology care.
