Merck & Co., Inc. (NYSE:MRK) is in talks to buy cancer drug developer Revolution Medicines, Inc. (NasdaqGS:RVMD) in a $28 billion to $32 billion deal, the Financial Times reported on January 8, 2026, citing a person familiar with the matter. Revolution shares jumped nearly 16% in extended trading following the report. Merck has been pursuing an acquisition of Revolution Medicines, however, a deal has not been finalised, the report said, citing people familiar with the matter, adding a tie-up would be at least several weeks away.
Other large pharmaceutical groups were still circling the biotech and another suitor might yet prevail, the FT report said, adding a transaction is not a foregone conclusion. A potential buyout of Revolution by Merck would mark the biggest deal in the pharmaceutical sector in nearly three years since Pfizer's $43 billion takeover of cancer biotech Seagen. Revolution Medicines and Merck did not immediately respond to Reuters' requests for comment.
