Merck’s acquisition of Verona Pharma for $10 billion centers on Verona’s COPD drug, Ohtuvayre, whose main patent expired in 2020. For Merck to capitalize on the deal, secondary patents protecting the lung drug must hold up to competition. The transaction underscores ongoing strategic bets by big pharma on strong patent estates despite looming generic threats, influencing the competitive landscape for pulmonary therapies.