A consortium led by CVC Capital Partners and Groupe Bruxelles Lambert launched a €10.7 billion ($12.4 billion) cash bid for Italian drugmaker Recordati. The group offered €51.29 per share to take the company private. This price represents a 13% premium over Recordati's share price before acquisition interest surfaced in March. The transaction aims to provide strategic flexibility to accelerate Recordati's rare disease portfolio.
Merck and Sichuan Kelun-Biotech released positive Phase 3 data for the antibody-drug conjugate sacituzumab tirumotecan combined with Keytruda. The combination therapy targeted treatment-naive non-small cell lung cancer. It reduced the risk of disease progression or death by 65% compared to Keytruda monotherapy.