German pharmaceutical company Merck KGaA has confirmed it is in advanced discussions regarding a potential acquisition of SpringWorks Therapeutics, though the company emphasized that no binding agreement has been reached and critical conditions remain unmet. The news, which follows earlier reporting by Reuters about the talks, caused SpringWorks shares to surge 34% on Monday before declining 4% Tuesday morning.
In separate industry developments, BridgeBio Pharma received authorization from the European Commission for its drug Beyonttra (acoramidis) to treat transthyretin amyloidosis with cardiomyopathy. The approval triggers a $75 million milestone payment from Bayer, which holds European commercial rights through a 2024 partnership agreement that guarantees BridgeBio at least a “low thirties” percentage royalty on European sales. The drug was previously approved in the United States under the brand name Attruby in November.
Meanwhile, Biohaven’s experimental treatment for spinocerebellar ataxia has been granted priority review by the FDA, setting up a potential decision within six months. If approved, the drug
troriluzole would become the first authorized treatment for this neurodegenerative condition affecting muscle coordination. Clinical testing demonstrated the drug’s ability to slow disease progression when compared to untreated patients, and Biohaven indicates it is prepared for a potential launch this year pending regulatory approval.
Third Harmonic Bio announced plans to reduce its workforce by half and narrow its focus to advancing its drug candidate THB335 into Phase 2 testing for chronic spontaneous urticaria. The company is exploring strategic options, including potential mergers, sales, or licensing deals to maximize shareholder value. As of December 31, Third Harmonic maintained $285 million in cash and equivalents, following its $185 million initial public offering in 2022.
Additionally, Eli Lilly is strengthening its position in
radiopharmaceuticals by expanding its collaboration with AdvanCell, which recently secured $112 million in Series C financing. The enhanced partnership will focus on AdvanCell’s technology for producing the lead radioisotope Pb-212, though specific financial terms were not disclosed. This move aligns with Lilly’s ongoing investment strategy in radiopharmaceutical development through various partnerships and investments.
The series of announcements reflects ongoing dynamics in the pharmaceutical industry, with companies pursuing strategic
acquisitions, receiving regulatory approvals, and advancing clinical programs. These developments highlight the industry’s continued focus on bringing innovative treatments to market while seeking strategic partnerships and organizational optimization to advance drug development efforts.