Merck shells out US$10bil in bid to diversify

The acquisition eases pressure on Merck to replace that revenue but does not eliminate the need for further deals. — Reuters

NEW YORK: Merck says it will acquire London-based Verona Pharma for about US$10bil, gaining a promising respiratory treatment as it faces pressure to diversify beyond its blockbuster cancer drug Keytruda.

Merck is set to lose revenue from Keytruda, the world’s top-selling drug with nearly US$30bil in annual sales, as key patents begin to expire in 2028.