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news.Aims to boost its drugs pipeline by acquiring rights to drug candidates or buying smaller research-based companies
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Merck KGaA (Merck) has sufficient funds and is planning to go for acquisitions in pharmaceuticals and chemical industries, reported Reuters, quoting a German newspaper.
Karl-Ludwig Kley, chief executive officer of Merck, said: “In principle, I can very well imagine acquisitions in both areas, in the pharma and chemical sectors. The company had enough funds to finance small as well as big acquisitions, but did not specify. But it also needs to fit,” as quoted in Sueddeutsche Zeitung.
Reportedly, earlier in September, Elmar Schnee, head of the pharmaceuticals unit at Merck, has informed Reuters regarding its plan of purchasing research-based companies for growth in the field of research and development.
Regarding the company’s Erbitux drug rejection by an European expert panel on drug approvals in November, the CEO of the company said: “The fact that our drug Erbitux was not approved for the indication of lung cancer has surprised us. We are still convinced of the drug’s effectiveness,” reported the news agency.