A flurry of deals suggests that drug firms favour buying their way out of trouble
Even though Prometheus makes no profits to speak of and has no approved drugs on its slate, the big prize for Merck is023, a drug approaching the late-stage of clinical trials developed by Prometheus to treat ulcerative colitis, Crohn’s disease and other nasty autoimmune conditions. For now, Prometheus is burning through cash at a fast-rising rate. Merck’s decision to scoop it up is a bet on what comes next.
The problem goes industry-wide. Patents for more than 190 drugs will expire before the end of the decade, leaving sales worth as much as $236bn at risk of a dramatic drop-off. Few will be spared the coming onslaught. The world’s ten biggest drugmakers, including Merck and Pfizer, an American rival, stand to lose around 46% of their revenues, which amounted to over $500bn combined in 2021, according to, a consultancy.
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