Merck KGaA to Acquire Silence Therapeutics for $1.1 Billion

Merck KGaA is acquiring British specialty pharmaceutical firm Silence Therapeutics for $1.1 billion, a move intended to strengthen its portfolio in rare disease treatments and position the company as a leading global provider of specialized medicines. The offer values each US American Depositary Share (ADS) of Silence Therapeutics at $20, representing a total valuation of $1.1 billion (980 million euros), according to a company announcement.

Silence Therapeutics is poised to enter Phase 3 clinical trials for “Divesiran,” its siRNA-based treatment for Polycythemia vera (PV), a rare blood disorder. Merck intends to leverage this pipeline asset to expand its footprint in the specialized pharmaceutical market. The acquisition price represents an 82 percent premium on Silence Therapeutics’ 30-day volume-weighted average share price.

The transaction has been approved by the Silence Therapeutics board and is anticipated to be finalized in the first quarter of 2027. Merck will finance the acquisition through new credit facilities. This acquisition signals Merck’s strategic focus on targeted therapies and its willingness to invest in innovative technologies like siRNA, which offers potential for precise gene silencing.

With the acquisition pending completion, the integration of Silence Therapeutics’ pipeline and expertise will be crucial for Merck to realize the anticipated benefits. The success of Divesiran in Phase 3 trials will be a key indicator of the deal's ultimate value and Merck’s ability to capitalize on the growing market for rare disease treatments.