VRNA Verona Pharma PLC ADR

Merck has completed its acquisition of Verona Pharma for approximately $10 billion, integrating Ohtuvayre (ensifentrine) into its cardio-pulmonary portfolio. Ohtuvayre is a first-in-class treatment for chronic obstructive pulmonary disease (COPD), approved in June 2024, and represents Merck's strategy to acquire innovative therapies with strong scientific and commercial potential. This acquisition is expected to negatively impact non-GAAP EPS by $0.16 in the first 12 months, stemming from financing costs offset by Ohtuvayre’s performance.

Verona Pharma (NASDAQ: VRNA) experienced a significant rebound in Q2 2025 after a challenging Q1, driven by favorable FDA designation for its Ohtuvayre drug and an acquisition announcement by Merck. This news contributed to a 252.69% increase in its share value over the past 52 weeks, with its market capitalization reaching $9.039 billion. ClearBridge Small Cap Strategy highlighted VRNA as a top contributor in its investor letter, noting the Merck acquisition at a premium.

Merck & Co. is set to acquire Verona Pharma PLC for approximately $10 billion, significantly expanding its portfolio of chronic obstructive pulmonary disease (COPD) treatments with Verona Pharma's Ohtuvayre. Following the announcement, Verona Pharma's stock (VRNA) surged over 20% in morning trading, while Merck's stock (MRK) also saw an increase.

Merck announced its definitive agreement to acquire Verona Pharma for approximately $10 billion, adding Ohtuvayre® (ensifentrine) to its cardio-pulmonary pipeline. Ohtuvayre®, approved in June 2024 for COPD maintenance treatment, is the first novel inhaled mechanism for COPD in over 20 years, offering both bronchodilator and anti-inflammatory effects. This acquisition aims to strengthen Merck's portfolio and deliver long-term growth by addressing an unmet need for COPD patients.

Ritedose has partnered with Verona Pharma to develop and manufacture Ohtuvayre, a newly FDA-approved, first-in-class drug for Chronic Obstructive Pulmonary Disease (COPD). Ohtuvayre is the first inhaled product with a novel mechanism of action for COPD maintenance treatment in over 20 years, aiming to redefine the treatment paradigm for millions of patients globally. This collaboration highlights Ritedose's expertise in sterile Blow Fill Seal production and Verona Pharma's commitment to delivering innovative therapies for chronic respiratory diseases.

Verona Pharma PLC CEO David Zaccardelli sold 600,000 shares of the company on September 11, 2024, bringing his total ownership to 15,250,704 shares. This transaction is part of a broader trend of insider selling at Verona Pharma, where 1,000,000 shares have been sold by Zaccardelli over the past year, alongside 3 insider buys and 7 insider sells company-wide. The shares were trading at $3.76, valuing the company at approximately $2.42 billion during the time of the sale.