Page 158 - CW E-Magazine (13-5-2025)

News from Abroad

BIOTECH BOOST

Merck to buy US-based SpringWorks for $3.9-bn

Germany’s Merck has signed a deal ability to pursue larger transactions.
to buy US biotech company Spring- SpringWorks’ portfolio complements
Works Therapeutics for an equity value Merck’s progress in rare tumours,
of $3.9-bn. with Merck recently exercising an
option for worldwide commercia-
“The agreed acquisition of lisation rights for pimicotinib, an
SpringWorks is a major step in our investigational therapy developed by
active portfolio strategy to position Abbisko Therapeutics for patients
Merck as a globally diversified, inno- with tenosynovial giant cell tumour
vation and technology powerhouse. (TGCT).
For our Healthcare sector, it sharpens
the focus on rare tumours, accelerates value of about $3.9-bn, or an enter- “We have the unique opportunity
growth, and strengthens our presence prise value of $3.4-bn (3-bn euros), with SpringWorks to establish a
in the US,” said Mr. Belén Garijo, when SpringWorks’ cash holdings leadership position in rare tumours
Chair of the Executive Board and are deducted. and build a strong foundation for
CEO of Merck. further investments in this area,
The acquisition will be funded where a large unmet medical need
The company said in a statement with available cash and new debt. exists,” said Mr. Peter Guenter,
that the purchase price of $47 per Beyond this planned transaction, member of the Executive Board and
share in cash represents an equity Merck said it will still retain the CEO of Healthcare at Merck.

Stepan Company starts production at new

alkoxylation hub in US

American chemicals firm, Stepan
Company, has announced the start
of production at its new alkoxylation
facility in Pasadena, Texas (US), in early
April.

The facility includes capabilities for
both ethoxylation and propoxylation with
an annual capacity of 75,000 metric tons
of alkoxylates. “Our state-of-the-art faci-
lity is strategically located in the US Gulf
Coast, near key raw materials, which will
help reduce potential supply chain disru-
ptions and improve our speed to market,”
the company stated. This facility is
Stepan’s third alkoxylation plant, strate-
gically enhancing long-term capacity for
its growing product portfolio in surfactant
technologies. These technologies are
essential to various markets, including
agricultural, oilfield, construction, cleaning
and personal care markets.

158 Chemical Weekly May 13, 2025

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