Merck & Co. has halted discussions to acquire oncology biotech Revolution Medicines after the parties were unable to reach agreement on price. The proposed deal had been discussed in a range of roughly 28 billion to 32 billion dollars, which would have represented a substantial premium to Revolution’s recent market value.
The end of negotiations comes after weeks of speculation that Merck was closing in on a large oncology transaction to bolster its pipeline ahead of upcoming patent expiries. While the talks have stopped for now, reports indicate they could resume, and other potential bidders may still emerge. Revolution Medicines’ shares, which had rallied on takeover expectations, fell around 20 percent in after‑hours and pre‑market trading following news that discussions had cooled.
Revolution is developing targeted cancer therapies focused on the RAS pathway, including the investigational agent daraxonrasib, which has generated interest from large pharma companies ahead of key clinical data readouts expected this year.
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