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Merck KGaA’s $3.9 billion deal to buy SpringWorks Therapeutics Inc. will expand the German conglomerate’s presence in the US at a time when many companies are seeking to increase investment in the country.

Germany’s Merck agreed to acquire U.S. biopharmaceutical company SpringWorks Therapeutics for around $3.9 billion, in a bid to expand its oncology and rare disease business.