Merck & Co., Inc. (MRK) May Use Bayer AG (BAYZF) Cash To Hunt For Companies With Promising Experimental Drugs
5/7/2014 8:05:45 AM
The pharmaceutical giant Merck & Co. is pushing forward its pipeline of drugs — including a melanoma treatment that is getting priority review by federal regulators — but it is also open to making deals that will accelerate its growth, top executives told a gathering of investors in Boston. That was made clear Tuesday, when Merck agreed to sell its consumer care business to the German drug maker Bayer AG for about $14.2 billion, while striking a collaboration with Bayer to co-develop and market cardiovascular disease treatments. Merck officials told more than 150 stock analysts and other investors that they might use money from the sale to buy companies with promising experimental treatments, particularly in biotechnology, where Merck has been lagging.
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