Merck seeks more deals to prepare for Keytruda revenue decline
Written By : Ruchika Sharma
Medically Reviewed By : Dr. Kamal Kant Kohli
Published On 2024-02-04 07:00 GMT | Update On 2024-03-22 08:40 GMT
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Merck & Co on Thursday said it was in the market for deals of up to around $15 billion as it plans for a loss of revenue from its aging cancer immunotherapy Keytruda, the world's top-selling prescription medicine.
The drugmaker, which also reported better-than-expected fourth-quarter results on strong Keytruda sales, has already inked multiple deals over the last year, including a $5.5 billion payout to Japan's Daiichi Sankyo for the right to co-develop three antibody drug conjugate cancer drugs.
"While I feel very good about the progress we've made and the growing portfolio, the diverse and deep portfolio we have in our pipeline, we do continue to believe we need more, and we will continue to prioritize business development," Chief Executive Officer Rob Davis said on a conference call.
In addition to deals, Davis said Merck would look for more collaborations similar to the Daiichi Sankyo transactions.
Read also: Merck gets USFDA nod for Keytruda plus chemoradiotherapy for FIGO 2014 Stage III-IVA Cervical Cancer
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