Merck KGaA is paying $1.3 billion for a Phase 2 siRNA that has not started Phase 3, entering a polycythemia vera market the FDA opened with Takeda's weekly injection two months ago. The bet rests on quarterly dosing and durable hematocrit control.
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Wound care is becoming one of big medtech's next frontiers, and Swedish wound-care leader Mölnlycke just announced a separation into an independent wound-care company. At the center of that landscape sits MediWound (NASDAQ: MDWD).
The FDA has accepted the first publicly announced biosimilar filing for Keytruda, built with no comparative Phase 3 trial. The pathway shortcut, not the molecule, is what reshapes the $31.7 billion franchise.
Viatris is paying $1.65 billion for Pacira, roughly 2.2 times trailing revenue. The price only makes sense if you count EXPAREL's early 2030 licensed generic cliff and the four years of runway before it.