Merck & Co. has entered a definitive $10 billion agreement to acquire London-based Verona Pharma, bolstering its cardiopulmonary drug portfolio with Ohtuvayre (ensifentrine), a first-in-class maintenance treatment for chronic obstructive pulmonary disease (COPD) approved by the FDA in 2024. The drug demonstrated a robust commercial launch, generating $71.3 million in net sales during Q1 2025, nearly doubling the previous quarter’s revenue. This acquisition represents Merck's second-largest biotech deal this year, supporting its strategy to diversify beyond its flagship cancer drug, Keytruda, which faces impending patent expirations. Verona’s CEO highlighted Merck’s industry-leading capabilities as a catalyst for accelerating Ohtuvayre’s market penetration and potential expansion into other respiratory conditions such as asthma and bronchiectasis. The deal is expected to close in Q4 2025, pending customary approvals.