Look back at pharma news in the week to November 6, 2020
The biggest M&A deal announced last week was Merck & Co’s $2.75 billion buy of VelosBio, while Sanofi’s acquisition of Kiadis was notable because the latter company’s future was in doubt just a year ago. Elsewhere, Bristol Myers Squibb had a major pipeline breakthrough and a US Food and Drug Administration briefing document on the Alzherimer’s candidate aducacumab sent shares in Biogen spiralling.
Merck & Co moving to become a ‘cancer powerhouse’
US pharma giant Merck & Co’s buy of VelosBio is its latest ‘move toward both positioning itself as a cancer powerhouse’, in part through significant investment in ADCs, writes Genetic Engineering & Biotechnology News. Just in September, Merck committed up to $4.2 billion toward a pair of oncology partnerships with Seattle Genetics as well as an equity stake in the firm.
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