Merck's Strategic Pivot: Heavy Investment in Acquisitions to Shape Post-Keytruda Era, Tempering Near-Term Earnings Outlook
Merck & Co. reported solid fourth-quarter revenue growth driven by its blockbuster cancer drug Keytruda, but the pharmaceutical giant forecasts a slowdown in earnings growth as it absorbs billions in costs from recent acquisitions aimed at diversifying its pipeline ahead of Keytruda's patent expiration.