默克公司同意以每股107美元的价格收购 维罗纳制药公司。据悉，此次收购对维罗纳的估值约为100亿 美元。 ...

默沙东同意以107美元/ADS的价格收购维Verona。（彭博） ...

默克公司同意以每股107美元的价格收购维罗纳制药（Verona ）。 ...

默克：收购维罗纳制药总交易价值约为100亿美元。 ...

智通财经7月9日电，默克公司同意以每股107美元的价格收购维罗纳制药（Verona ），总交易价值约为 100亿美元。 ...

Core Viewpoint - The introduction of the domestic nine-valent HPV vaccine "Xinkening®9" at a price of 499 yuan per dose intensifies competition in the HPV vaccine market, prompting a potential price war among manufacturers [1][8]. Market Expansion - The global coverage rate for the first dose of the HPV vaccine among girls is projected to reach 27% by 2024, while the coverage rate for women aged 9 to 45 in China is only 10.15%, showing significant room for growth compared to the global average and the 67% coverage in Western countries [5][6]. Market Challenges - Expanding market space is a major challenge for all companies involved in HPV vaccine development. Companies are actively seeking to open up the market, with the approval of new indications for the "Jiadaxiu9" vaccine, which is now the first and only nine-valent HPV vaccine approved for both males and females in China [7][8]. Competitive Landscape - Domestic HPV vaccine manufacturers are shifting focus to price competition after missing the first-mover advantage. However, raising public awareness and vaccination rates is seen as a more effective strategy than price cuts [9][10]. Vaccine Efficacy Evidence - Real-world studies have shown significant reductions in HPV infection rates and cervical cancer cases due to vaccination, with a Scottish study indicating a 90% decrease in HPV infections since the vaccine's introduction in 2008 [11][12]. Conclusion - The competition in the HPV vaccine market is expected to evolve, with data on vaccine efficacy becoming a crucial factor in establishing trust and market presence for new entrants [12].

Core Insights - The pharmaceutical industry is facing its most severe "patent cliff" in a decade, with drugs worth approximately $180 billion in annual revenue set to lose patent protection in 2027 and 2028, impacting nearly 12% of the global market [1][6] - Major companies like Bristol-Myers Squibb, Pfizer, and Merck are expected to be significantly affected by this wave of patent expirations [1] - The current funding model for drug innovation is under scrutiny, as high innovation costs contrast with low replication costs, leading to substantial revenue losses for original drug manufacturers once patents expire [1][6] Patent Expiration Impact - Merck's Keytruda, a leading cancer drug, generated $29.5 billion in sales last year but will lose patent protection in 2028, contributing to a 35% decline in Merck's stock price over the past year [2][6] - Analysts highlight that Merck faces a "huge revenue gap" that cannot be filled by a single drug, prompting the need for accelerated growth strategies through mergers and acquisitions [5][6] Mergers and Acquisitions Strategy - Pharmaceutical companies are increasingly resorting to acquisitions to fill their product pipelines, with an estimated $1.3 trillion available for mergers [7] - Merck is reportedly close to acquiring London-based Verona Pharma for $10 billion as a strategic move to address the Keytruda patent cliff [7] - The political environment poses challenges, with concerns over regulatory scrutiny and potential tariffs impacting merger activities [7] Focus on Chinese Assets - Unlike previous patent cliffs, companies are now looking towards China for acquisition targets, often purchasing early-stage drug rights outside China for later trials [8][9] - The value of licensing deals between Chinese companies and Western partners has reached $35 billion this year, indicating a growing interest in the Chinese biotech sector [9] Patent Extension Strategies - Companies are also employing strategies to extend existing drug patent protections, exemplified by AbbVie's Humira, which has created a "patent thicket" to delay expiration until 2034 [10] - However, such strategies are facing increased political scrutiny, with calls for legislation to combat patent manipulation [10] Biological Drugs and Market Dynamics - The upcoming patent expirations are primarily for biologics, which are more challenging to replicate than traditional drugs, potentially leading to a less steep decline in prices [11] - The FDA is accelerating the approval process for biosimilars, which may change the market dynamics for companies like Merck [11]

智通财经7月9日电，三位知情人士称，Merck（默克）将以每股美国存托股票107美元的价格收购 Verona，这一报价较Verona周二收盘价溢价23%。此次收购对Verona的估值约为100亿美元，交易最快可 能周三宣布。 默克接近收购呼吸系统药企Verona 交易估值100亿美元 ...

Merck is closing in on an approximately $10 billion deal to acquire respiratory drugmaker Verona Pharma, the Financial Times reports https://t.co/M1uekdxh0f ...

默沙东接近达成以100亿美元的价格收购呼吸系统药物制造商Verona的交易。 ...