Merck stock slips after report says MRK stepped back from Revolution Medicines talks
Merck & Co shares slipped 0.6% to $107.57 in Monday afternoon trading after reports surfaced that the U.S. drugmaker ended talks to acquire cancer-drug developer Revolution Medicines. According to Reuters, which followed an initial report by the Wall Street Journal, negotiations stalled over price disagreements. The potential deal, valued between $28 billion and $32 billion, would have granted Merck access to Revolution’s late-stage drug daraxonrasib, carrying an FDA fast-track review voucher to speed up future approvals. Neither company has issued a comment.
