Same Old Story
Merck Does a Fine Deal, But Not the One It Needs
Instead of finding new growth sources, the drugmaker doubles down on Keytruda.
Workers enter a Merck facility located in Summit, New Jersey, Tuesday, October 1, 2013.
Photographer: Emile Wamsteker/Bloomberg via Getty ImagesThis article is for subscribers only.
Merck & Co. Inc. just keeps doubling down on Keytruda.
On Wednesday, the company said it was paying A$502 million to buy Australian biotech Viralytics Ltd. It's a risky bet on early-stage trial data for a drug that could be a combination partner for Keytruda, the anchor of Merck's immune-boosting cancer-drug program.