Merck & Co is on the brink of a $1.3 billion cash splash to acquire Eyebiotech, a biotech firm specializing in ophthalmology, with an extra $1.7 billion in milestone payments potentially on the table, according to the Wall Street Journal on Tuesday.
The ink might dry on this deal as soon as Wednesday, insiders whispered.
While Merck played the silent game and Eyebiotech refused to blink, the scoop is out.
Eyebiotech, a transatlantic firm with roots in the U.S. and the UK, is tackling vision-threatening diseases. Their star pupil, Restoret, is in the clinical spotlight, targeting retinal diseases that cause vision impairment.
Back in February, Merck revealed its shopping spree ambitions, eyeing deals up to $15 billion to counteract looming revenue losses from Keytruda, their blockbuster cancer immunotherapy.
Keytruda raked in $25 billion in 2023 and is expected to surpass $30 billion by 2026, but its patent will expire by decade’s end, leaving Merck to seek new horizons.