Merck KGaA Eyes Life Science Targets After SpringWorks Purchase

Merck KGaA is still scouting for acquisition targets after the German drug-to-semiconductor group completed its $3.9 billion takeover of SpringWorks Therapeutics Inc. on Tuesday.

“The SpringWorks acquisition will not restrict and prevent us from making other moves,” Chief Executive Officer Belen Garijo said in an interview. “If we find something bigger, we’ll be able to do it as well.”

SpringWorks, based in Stamford, Connecticut, is focused on developing therapies for severe rare diseases and cancer, and will contribute to Merck’s revenues “immediately,” Garijo said.

Merck is looking for deals that focus on innovation rather than scale, pointing to a shift ...