Merck & Co. announced a $10 billion acquisition of London-based Verona Pharma, gaining the inhaled COPD drug Ohtuvayre, a first-in-class dual inhibitor combining bronchodilator and anti-inflammatory effects. Approved by FDA in mid-2024, Ohtuvayre's sales surged to $71 million in Q1 2025, marking the strongest COPD launch in history. Merck sees this deal as a strategic diversification ahead of Keytruda's patent expiry and plans to expand its cardio-pulmonary portfolio. The acquisition reflects continued industry consolidation and aggressive bidding for respiratory treatment assets.