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Biotech / Medical : Munch-a-Biotech Today
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From: sim111/4/2009 10:05:34 PM
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Merck CEO ‘Actively Looking’ for Biotech Deals.

November 4, 2009, 6:24 PM ET

By Jonathan D. Rockoff [WSJ/DJ]

A day after closing Merck’s $41 billion takeover of Schering-Plough, Merck CEO Dick Clark showed that his appetite for deal-making hasn’t been sated. Clark told us today that the newly combined company is “actively looking” for biotechs to buy or partner with.

For the moment, Clark said doing another mega-deal was “off the table right now” because the company needs to concentrate on combining Merck with Schering-Plough. But Merck is certainly interested in smaller deals, in the “single-digit billions” of dollars, the CEO said, without being more specific.

Executives at the “new Merck” are about to start reviewing the combined company’s lineup of current therapies and experimental treatments to determine what to focus on and if there is anything to forgo. As we noted earlier today, officials also still must decide on layoffs and other cost cuts.

But to compete effectively today, Clark said drug makers like Merck needed to abandon their traditional emphasis on in-house innovation. “We’ve gone much more external,” he said. As Clark noted, the combined company will generate about $15 billion in free cash flow each year to go hunting.

Health Blog Question of the Day: Who will Merck buy next?
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