Merck is in talks to acquire Revolution Medicines for about $30 billion.

Merck is discussing an acquisition of Revolution Medicines valued at roughly $28–$32 billion, and people familiar with the matter say talks could conclude as soon as this month though they could still fall apart.

Merck is in discussions to acquire Revolution Medicines, according to people familiar with the matter. Reported talks place the deal value between $28 billion and $32 billion. Sources said a transaction could come as soon as later this month, while also cautioning the talks could fail or another suitor could prevail. Revolution develops experimental drugs that target the RAS molecular driver found in several cancers. Key details: - People familiar with the matter say Merck has been discussing a deal in the $28 billion to $32 billion range. - The talks could conclude as soon as later this month, but they could still fall apart or face competing bidders. - Revolution’s market value was about $16 billion before the reports; its stock rose and exceeded $20 billion after the news. - Revolution is developing RAS-targeting experimental drugs aimed at cancers including lung, pancreatic and colon. - Mizuho Securities analysts estimate the pancreatic-cancer candidate could generate roughly $10 billion in worldwide sales by 2035 if it proves safe and effective. - Merck, with a market value near $275 billion, reported Keytruda sales of $29.5 billion in 2024; Keytruda’s main patent protection is set to lapse in 2028, and Merck has recently pursued other acquisitions including Cidara and Verona Pharma. Summary: If completed, the transaction would add Revolution’s RAS-focused programs to Merck’s portfolio. The talks are ongoing and could finish this month, but their outcome remains uncertain. Undetermined at this time.