XLRN - Merck eyeing more M&A deals as patent cliff for key cancer drug nears - FT
With patent protection for blockbuster cancer therapy Keytruda set to expire in 2028, Merck (NYSE:MRK) is on the deal hunt, The Financial Times reports citing Mirati Therapeutics (NASDAQ:MRTX), Arcturus Therapeutics (NASDAQ:ARCT), and Biogen (NASDAQ:BIIB) as potential candidates. According to people briefed on the matter, privately held biotech Strand Therapeutics could also be a target, while others have said that the company is unlikely to pursue megamergers for fear of issues in integration and the risk of drawing regulatory scrutiny. Merck (MRK) has just announced a deal to acquire Acceleron Pharma (NASDAQ:XLRN), which has a late-stage asset to treat pulmonary arterial hypertension, for more than $11 billion in cash. The company’s recently appointed CEO, Rob Davis, is looking for further deals to make up for an eventual decline in sales when cheaper versions of Keytruda enter the market in 2028. “I’m confident we have the firepower, the capability, the focus and urgency to
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Merck eyeing more M&A deals as patent cliff for key cancer drug nears - FT