Merck & Co., the second-biggest U.S. drugmaker by sales, will work with three other drugmakers to find the most-promising combination treatments for its top pipeline prospect, an immune system-based cancer medicine.
Merck & Co.’s new top scientist is planning major changes for the second-largest U.S. drugmaker, including cutting dead-end research projects and focusing its laboratories on biotechnology and cancer medicines.
Novartis AG is in talks with Merck & Co. to trade its animal-health and human vaccines businesses for the New Jersey drugmaker’s over-the-counter health-products unit, people familiar with the matter said.
Merck & Co. hired Roger Perlmutter, Amgen Inc.’s former top scientist, to replace Peter Kim as head of research after several of the drugmaker’s experimental medicines suffered setbacks during testing.
Merck & Co., facing generic competition to what was once its best-selling drug, cut its full-year guidance in anticipation of lower sales and said it would start buying back as much as $15 billion in shares.