06:58 AM EDT, 07/09/2025 (MT Newswires) -- Merck ( MRK ) has agreed to acquire Verona Pharma ( VRNA ) for $107 per American depositary share for a total transaction value of about $10 billion, the companies said Wednesday.

Each ADS represents eight Verona ordinary shares.

The deal has received approvals from the companies' respective boards, with closing expected in Q4, subject to Verona shareholder approval and other conditions.

Through the acquisition, Merck ( MRK ) will add Ohtuvayre, which was approved last year by the US Food and Drug Administration for the maintenance treatment of chronic obstructive pulmonary disease in adults, to its pipeline of therapies, the companies said.

Verona shares were up 20% in recent premarket activity, while Merck ( MRK ) rose 0.1%.