Merck KGaA has struck a deal to buy U.S. biotech company SpringWorks Therapeutics for an equity value of $3.9 billion to add rare cancer therapies ahead of expected revenue losses linked to expiring patents.

KEY TAKEAWAYS German drug company Merck KGaA said Monday it has struck a deal to buy U.S. biotech firm SpringWorks Therapeutics for around $3.9 billion, expanding its portfolio of rare disease and cancer treatments.

Planned acquisition will strengthen the US presence of Merck Healthcare and expand reach of SpringWorks’ therapeutic innovations to more patients with rare tumors worldwide,' Merck says - Anadolu Ajan