Merck Germany Regains Exclusive Global Rights To Cancer Drug From Pfizer

Author: Vandana Singh | March 27, 2023 12:23pm

• Germany’s Merck KGaA (OTC: MKGAF) (OTC: MKKGY) has regained exclusive worldwide rights to develop, manufacture, and commercialize its checkpoint blocker Bavencio (avelumab) from Pfizer Inc (NYSE:PFE).
• The news comes just a few weeks after Pfizer announced plans to buy antibody-drug conjugate (ADC) company Seagen Inc (NASDAQ:SGEN) at $43 billion.
• Pfizer will exit its global partnership with Merck KGaA over the PD-L1 MAb on 30 June, handing over all future clinical work and commercialization and swapping a 50% profit share for a 15% royalty. 
• Merck KGaA and Pfizer will continue operationalizing their respective ongoing clinical trials for Bavencio, and Merck KGaA will control all future research and development activities. 
• Product manufacturing and supply chain will remain solely with Merck KGaA ensuring continuous and reliable access to Bavencio for patients.
• Bavencio was discovered in-house at Merck KGaA, and the alliance with Pfizer was executed in 2014 to co-develop and co-commercialize Bavencio. 
• Price Action: PFE shares are down 0.24% at $40.30 on the last check Monday.

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