Germany's Merck says in late-stage discussions to buy SpringWorks for $3.5 billion

Merck KGaA Acquisition Talks: Merck KGaA is in late-stage negotiations to acquire U.S.-based SpringWorks Therapeutics for approximately $3.5 billion, which would enhance its cancer treatment portfolio and provide access to a recently approved rare disease drug.

Market Impact and Challenges: The potential acquisition comes as Merck faces slowing sales from its cancer drug Bavencio and challenges with its multiple sclerosis treatment Mavenclad, while SpringWorks has seen a decline in share value since February.