Schering’s Organon Grab Made Merck's Merger Magic Happen
This article was originally published in The Pink Sheet Daily
Takeover in 2007 proved no permanent fix for Schering, but it was enough to lure an even bigger deal.
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Cultural transformation was the main topic of Warburg Pincus managing director Fred Hassan’s keynote talk at the Therapeutic Area Partnerships meeting on Nov. 19, where the audience also drew on the investor’s extensive track record leading some of pharma’s most successful turnarounds.
The big pharma will establish a new oncology unit focused on bringing its anti-PD-1 immunotherapy MK-3475 to market as part of a massive R&D overhaul aimed at lowering costs while driving innovation. Merck isn’t one of the industry’s leading oncology players and may not have as much R&D expertise in the area as rivals, but it might not ultimately matter – as long as MK-3475 gets to market.
FDA’s Psychopharmacologic Drugs panel will likely consider supplemental data Schering submitted in response to an FDA complete response letter issued in January.