Pharma companies rush in to buy what they hope will rival Keytruda - ?3 Jun 2025 22:08
Pharmaceutical companies are actively pursuing acquisitions and partnerships to secure next-generation cancer immunotherapies that could rival Merck’s blockbuster drug Keytruda, especially as its U.S. patent expiration looms in 2028. 
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🔬 Key Developments in the Race to Replace Keytruda
1. Merck’s Strategic Moves
• Acquisition Talks with MoonLake Immunotherapeutics: Merck has engaged in acquisition discussions with Swiss biotech firm MoonLake Immunotherapeutics for a potential deal exceeding $3 billion. This move aims to bolster Merck’s pipeline as it anticipates revenue challenges with Keytruda’s upcoming patent expiration. 
• Investment in LaNova Medicines: Merck agreed to pay $588 million upfront, with potential additional payments up to $2.7 billion, to acquire global rights to LM-299, a bispecific antibody targeting PD-1 and VEGF. This class of drugs has shown promise in outperforming Keytruda in certain trials. 
2. Bristol Myers Squibb and BioNTech Collaboration
• Bristol Myers Squibb has entered a partnership with BioNTech, investing $1.5 billion upfront in a deal that could total over $11 billion. The collaboration focuses on co-developing BNT327, a bispecific antibody targeting PD-L1 and VEGF-A, aiming to enhance cancer treatment efficacy. 
3. AstraZeneca’s Acquisition of Fusion Pharmaceuticals
• AstraZeneca acquired Canadian biotech Fusion Pharmaceuticals for up to $2.4 billion. Fusion is developing radioconjugates, a novel class of targeted cancer therapies that aim to minimize damage to healthy cells, offering a potential alternative to traditional treatments like chemotherapy. 
4. Emerging Competitors from China
• Chinese biotechs, in collaboration with Western partners, are introducing PD-1/PD-L1 inhibitors to the U.S. market. Notably, Summit Therapeutics’ ivonescimab demonstrated superior progression-free survival compared to Keytruda in a Phase III lung cancer trial, highlighting the growing competition in this space. 
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💡 Implications for the Oncology Market
These strategic moves underscore a significant shift in the oncology landscape, with pharmaceutical companies seeking innovative therapies to maintain their market positions post-Keytruda’s patent expiration. The focus on bispecific antibodies and novel treatment modalities reflects the industry’s commitment to advancing cancer care and addressing unmet medical needs.
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