Merck reportedly entered talks to acquire Revolution Medicines in a deal valued between $28 billion and $32 billion, according to media reports citing unnamed sources. The discussions center on Revolution’s late‑stage RAS inhibitor daraxonrasib and related oncology assets, which Merck could use to bolster its oncology portfolio ahead of looming Keytruda patent expiries. Financial Times reported the negotiations and noted other pharma suitors have shown interest; the situation remains fluid with no definitive agreement announced. Revolution’s programs, including a fast‑track‑reviewed RAS inhibitor, are positioned to address high‑unmet‑need tumors driven by RAS mutations. Industry observers said the talks reflect broader strategic urgency among top drugmakers to replenish oncology pipelines via bolt‑on acquisitions rather than internal discovery alone. Merck did not comment publicly at the time of the reports.