Merck reportedly terminates acquisition of cancer drug developer Revolution Medicines

The Wall Street Journal reported that Merck & Co. (MRK.US) has terminated negotiations to acquire cancer drug developer Revolution Medicines (RVMD.US) due to differences in pricing between the two parties. The report indicates that negotiations may restart in the future, and there may be other potential acquirers. If the acquisition is successful, Merck would obtain the development rights to its experimental drug daraxonrasib, which is currently in late-stage clinical trials and has received Fast Track designation from the U.S. Food and Drug Administration.

The Financial Times previously reported that Merck was in talks to acquire Revolution Medicines, with the deal valued between $28 billion and $32 billion. Revolution Medicines currently has a market capitalization of approximately $22.7 billion