Merck's dealmaker warns of increased M&A activity as Keytruda patent expires

Merck's chief M&A officer says the company expects a surge in deal flow as the patent for its flagship immunotherapy, Keytruda, approaches expiration.

The leadership has been pursuing acquisitions and partnerships with urgency over the past few years to replenish the pipeline and mitigate the impact of the upcoming patent cliff.

CEO Robert Davis emphasized that the strategy is to secure promising assets now, and the firm is actively evaluating targets across oncology and other therapeutic areas.

Analysts note that increased M&A could help sustain revenue growth but also bring integration risks and higher spending.