Pharmaceutical giant Merck is buying Verona Pharma, a company that focuses on respiratory diseases, in an approximately $10 billion deal.
The deal gives Merck access to Verona Pharma’s new chronic obstructive pulmonary disease medication Ohtuvayre. U.S. regulators approved the inhaled medication more than a year ago to treat chronic obstructive pulmonary disease, or COPD, in adults.
“Ohtuvayre complements and expands our pipeline and portfolio of treatments for cardiopulmonary diseases while delivering near- and long-term growth as well as value for shareholders,” Merck & Co. Inc. Chairman and CEO Robert Davis said in a statement.
Verona CEO David Zaccardelli added that Merck’s commercial reach can help Ohtuvayre reach more COPD patients.
COPD is a progressive disease that can cause shortness of breath, coughing and other problems that make it hard to breathe, according to the National Institutes of Health. It is caused by damage to the airways or other parts of