Verona Pharma (NASDAQ: VRNA) jumped over 20% after Merck (NYSE: MRK) announced it was buying the company for $10 billion, or $107 per American Depositary Share (ADS). VRNA stock currently trades at $104.77 per share and is up 484.33% in the past year. Merck wants to reduce its dependence on Keytruda through this acquisition.

Verona Pharma plc (NASDAQ:VRNA) is one of the 11 Best Mid-cap Healthcare Stocks to Buy According to Hedge Funds. Piper Sandler increased the price target on the company’s stock to $160 from $76, while maintaining an “Overweight” rating.

Stocks traded higher Wednesday as Wall Street focused on the latest tariff developments from President Donald Trump and minutes from the Federal Reserve’s June meeting signaled year-end rate cuts, though officials were divided over how many.

President Trump threatened to impose up to 200% tariffs on pharmaceuticals imported into the U.S., but not immediately

Merck & Co. Inc. (NYSE:MRK) is one of the most undervalued NYSE stocks to buy now. On July 9, Merck announced its acquisition of UK-based Verona Pharma for ~$10 billion.

U.S. drugmaker Merck is nearing a deal worth about $10 billion to buy Verona Pharma, a company focused on therapies for lung diseases, the Financial Times reported on Wednesday. Merck will pay $107 per American depository share for Verona,