idrees abbas / sopa images / lightrocket / getty images
-
Shares of Springworks Therapeutics spiked Monday following reports that German healthcare company Merck Kgaa could buy the company.
-
A deal between a German company and Springworks, a US-based cancer treatment manufacturer, could be announced in the coming weeks. Reuters It has been reported.
-
Springworks shares jumped to their highest closing price in nearly three years on Monday.
Springworks Therapeutics stocks surged on Monday with reports that the German medical technology giant could approach the company’s acquisition.
Quoting several people who are familiar with the discussion, Reuters On Monday, Germany-listed Springworks and Merck Kgaa reported that they are in talks and that an agreement could be reached in the coming weeks. Reuters He later reported that Merck confirmed the “advanced” speech.
Spring Works (SWTX) develops several treatments for different types of cancer and tumors. Merck KGAA, which claims itself as “the world’s oldest pharmaceutical company and chemical company,” is a separate entity from the US pharmaceutical company of the same name.
Springworks shares have regained previous profits, up about 34%, at the highest level, which rose 34% on Monday since April 2022. Merck’s German-registered shares have lowered the trading session by about 3%.
Merck says it is ready to make new acquisitions after cash reserves expanded during the pandemic amid growing demand for its products. Bloomberg It has been reported.
A Springworks spokesman declined to comment on the report. Merck did not immediately respond to requests for comment.
Please read the original article of Investopedia
