Revolution Medicines Rejects Merck’s Acquisition Bid, Stands Firm on Valuation Amid Ongoing Interest
Merck & Co. has backed out of acquisition talks with Revolution Medicines after failing to agree on a price, reportedly in the $28-32 billion range.
Revolution's shares initially dropped 16% to $97.91 following the news but have since recovered, trading around $117-119.
The company's lead asset, daraxonrasib, showed strong Phase I results with 29% ORR in second-line and 47% in first-line pancreatic cancer patients with RAS mutations, and received an FDA National Priority Voucher in October 2025.
Revolution is confident in its pipeline, including upcoming Phase III data for daraxonrasib in pancreatic cancer expected H1 2026, and other RAS inhibitors like elironrasib and zoldonrasib.
Other pharmas like AbbVie have shown interest, though denied, and analysts see validation of Revolution's value with potential for future deals.