We are done talking, Merck ends acquisition talks with Revolution Medicines – Per WSJ

Merck & Co. (MRK) is no longer in discussions to acquire Revolution Medicines Inc. (RVMD), according to people familiar with the matter cited by the Wall Street Journal.

The pharmaceutical company had been in talks to acquire the cancer-drug biotech in a deal that could have valued Revolution Medicines at around $30 billion. The discussions ended after the companies could not reach an agreement on price, according to the sources.

Revolution Medicines is expected to release clinical trial data for its pancreatic and colorectal cancer drug candidates during the first half of this year. The sources indicated that talks could potentially restart or another buyer for Revolution Medicines could emerge.

Been around the world, Vanguard’s international assets hit $1 trillion milestone

Vanguard’s assets under management outside the United States have surpassed $1 trillion for the first time, according to a Financial Times report on Sunday.

The asset manager aims to more than double its international client base to nearly 40 million over the next five years, the FT reported.

Chris McIsaac, who leads Vanguard’s international operations, noted that the firm’s business outside the U.S. has doubled its assets over the past five years.

“At this pace, it will take us another five to attract the next $1 trillion,” McIsaac said.