After $600M sales hit from pandemic, Merck's open to 'all forms' of M&A deals, incoming CEO says.
With Merck's sales dragging from the pandemic and the company becoming increasingly reliant on immuno-oncology superstar Keytruda, the pharma giant's executive team unveiled a willingness to flex its M&A muscle.
“We are open to any opportunity to add a meaningful asset,” president and soon-to-be CEO Rob Davis said on a Thursday call with investors. “We are open to all forms of deals and we have the capital” for those deals, he added.
The comments came during Merck’s first-quarter earnings call, where the drug giant reported sales for the period of $12.08 billion. Cancer mainstays Keytruda and Lynparza held the line, alongside surgery drug Bridion and the drugmaker’s animal health business. Elsewhere, pandemic disruptions took their toll.
With Merck's sales dragging from the pandemic and the company becoming increasingly reliant on immuno-oncology superstar Keytruda, the pharma giant's executive team unveiled a willingness to flex its M&A muscle.
“We are open to any opportunity to add a meaningful asset,” president and soon-to-be CEO Rob Davis said on a Thursday call with investors. “We are open to all forms of deals and we have the capital” for those deals, he added.
The comments came during Merck’s first-quarter earnings call, where the drug giant reported sales for the period of $12.08 billion. Cancer mainstays Keytruda and Lynparza held the line, alongside surgery drug Bridion and the drugmaker’s animal health business. Elsewhere, pandemic disruptions took their toll.