Merck Ends Talks to Buy Revolution Medicines, WSJ Reports

Merck & Co. is no longer in talks to acquire biotech firm Revolution Medicines Inc. after the two companies couldn’t agree on a price, the Wall Street Journal reported, citing people familiar with the matter.

A deal could have valued Revolution Medicines at around $30 billion, the report said, adding that talks could restart or another suitor could emerge. Merck is seeking deals that will strengthen its treatments portfolio to counter patent losses that will erode sales by $18 billion over the next five years.