Germany's Merck KGaA said on Thursday it is in late-stage talks to acquire U.S.-based SpringWorks Therapeutics for about $3.5 billion, a deal that could give it access to a recently approved rare disease drug and expand its portfolio of experimental cancer treatments.

Bengaluru: Merck KGaA, a science and technology company, is in late-stage negotiations to buy SpringWorks Therapeutics, a US based commercial-stage biopharmaceutical company for approximately

Merck KGaA has confirmed that it is in late-stage discussions with SpringWorks, valuing the deal at a price of around $47 per share.