Germany's Merck KGaA has struck a deal to buy U.S. biotech company SpringWorks Therapeutics for an equity value of $3.9 billion to add rare cancer t

KEY TAKEAWAYS German drug company Merck KGaA said Monday it has struck a deal to buy U.S. biotech firm SpringWorks Therapeutics for around $3.9 billion, expanding its portfolio of rare disease and cancer treatments.

Merck & Company, Inc. (MRK) to acquire SpringWorks Therapeutics, Inc. (SWTX) for $47/share in cash, creating synergies for rare tumor treatments and immediate revenue growth.