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  • Merck eyes more...

Merck eyes more acquisitions for life science after USD 600M Mirus Bio deal

Written By : Farhat Nasim Published On 2024-10-20T10:15:27+05:30  |  Updated On 20 Oct 2024 10:15 AM IST
Merck eyes more acquisitions for life science after USD 600M Mirus Bio deal
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Merck also said it will intensify the in licensing of drug candidates in its Healthcare division.

Gdansk: German science and technology group Merck is open to more acquisitions for its Life Science business after announcing in May it would buy Mirus Bio for $600 million, it said ahead of its Capital Markets day on Thursday.
"Our guiding principle is and always has been, the right target, at the right time, for the right price," CEO Belen Garijo said in a statement.
Read also: Merck gets positive EU CHMP opinions for Keytruda regimens for patients with two types of Gynecologic cancers
"For larger future transactions, Merck is focusing on the Life Science business sector," the firm added.
Shares in the group were up 6.06% at 0727 GMT. ODDO BHF analyst Oliver Metzger attributed the move chiefly to gains in German pharma peer Sartorius, whose shares jumped 13% on Thursday after it said it expects an improved second half.
Merck narrowed expectations for its Life Science business, aiming for annual organic sales growth in a 7-9% range from a previously anticipated 7-10%.
It also said it will intensify the in-licensing of drug candidates in its Healthcare division.
The Hesse-based company changed its outlook for its Healthcare business to "slight growth", compared to a previously expected mid-single-digit percentage range, due to "recently announced pipeline setbacks", the statement said.
Merck has reported a string of setbacks in the development of cancer and multiple sclerosis drugs in recent years.
The company however raised the mid-term outlook for its electronics division to a 5-9% range from a previous 3-6%, benefiting from high demand for chips for AI applications.
Read also: Merck, EyeBio announce initiation of Phase 2b/3 clinical trial for Restoret for Diabetic Macular Edema
MerckLife Science DivisionMirus BioBelen Garijoacquistion
Source : Reuters
Farhat Nasim
Farhat Nasim

    Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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