Merck wants to buy companies to expand its cancer and noncancer treatments.
Kenneth Frazier, Merck’s CEO, at a Senate committee hearing on drug pricing in February. Photo: Zach Gibson/Bloomberg News By Jared S. Hopkins June 19, 2019 5:30 am ET Merck MRK 1.43% & Co. is searching for small and midsize deals, including more transactions aimed at expanding its portfolio of cancer treatments beyond the company’s top-selling product Keytruda, according to people familiar with the matter.
Drug pricing is complicated and secretive. WSJ explains how the flow of money, drugs and rebates behind the scenes may drive up the price of prescription medicine for consumers. Illustration: Mallory Brangan Keytruda, which unleashes a patient’s own immune system to fight tumors, was once an afterthought buried in Merck’s research-and-development pipeline but has in the past few years become a commercial juggernaut for the company.
Now some investors and analysts are starting to worry that Merck may be too dependent on Keytruda for growth. By 2024, Merck’s $20 billion in cancer-drug sales will be nearly 40% of company revenue, JPMorgan Chase & Co. projects. Merck also sells other prescription drugs, in addition to its vaccines and animal-health medicines.
Among the likely topics is the company’s vaccines in development, including a potential competitor to Pfizer Inc.’s big-selling Prevnar vaccine, which protects against infections such as pneumonia and meningitis. JPMorgan analysts project Merck’s drug could reach sales of $1.5 billion.The company is investing in its animal-health unit, which sells products for pets and livestock animals. In December, it acquired animal-tech company Antelliq Group for $2.4 billion.
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