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Covington Represents Merck In $2.7B Acquisition of Cancer Drug Developer

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  • Covington Represents Merck In 2 7B Acquisition of Cancer Drug Developer

WASHINGTON—Covington represented Merck & Co., Inc. in its definitive agreement under which Merck, through a subsidiary, will acquire ArQule for $20 per share in cash for an approximate total equity value of $2.7 billion.

ArQule is a publicly traded biopharmaceutical company focused on kinase inhibitor discovery and development for the treatment of patients with cancer and other diseases. ArQule’s lead investigational candidate, ARQ 531, is a novel, oral Bruton’s tyrosine kinase (BTK) inhibitor currently in a Phase 2 dose expansion study for the treatment of B-cell malignancies.

The Covington team was led by Catherine Dargan and Mike Riella, and included Drew Fischer and Kevin Silk (M&A), Van Ellis (life sciences), Robert Newman (employee benefits), Mike Labson and Robin Blaney (regulatory), and Ansgar Simon (tax).

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