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 Its medicine is a so-called anti-PD-L1 agent, one of a number of new
drugs from rival companies within the hot research area of immuno-oncology
that are designed to make tumor cells more vulnerable to attack by
the body’s immune system.
U.S.-based Merck & Co, Bristol-Myers Squibb, Roche and AstraZeneca
are viewed as the main players in this new field, which analysts
believe could develop into a market worth tens of billions of
dollars in annual sales.
As a mid-sized competitor, Merck KGaA has decided to seek a partner
for its product, which has already been given to more than 500
patients in early-stage Phase I tests and is seen as a potential
treatment in lung, ovarian and Merkel cell skin cancer.
"We have initiated a competitive process to select the best partner
for the global co-development and co-commercialization of our
anti-PD-L1 compound,” Stefan Oschmann, the head of its pharmacy
business, said in a statement on Thursday.
"We are currently in advanced discussions with major oncology
players and aim to reach an agreement by year-end."
Merck added that it planned to invest an additional 130 to 150
million euros ($168 to $192 million) next year in its unit
developing cheaper copies of biotech drugs, known as biosimilars, on
top of 100 million euros this year, depending on the outcome of
ongoing clinical studies.
It said it would expand existing partnerships with India's Dr
Reddy's and Brazil's Bionovis with another, as yet undisclosed
in-licensing agreement for a late-stage biosimilar, initially for
smaller emerging markets.
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The Darmstadt-based company also announced it had appointed the head
of its pharma business, Stefan Oschmann, as deputy chief executive.
Oschmann, 57, will share strategic management functions and
representation of the company with CEO Karl-Ludwig Kley as of Jan.
1, 2015, putting him in the frame to possibly succeed Kley, whose
contract runs until September 2016.
Belen Garijo, 54, will take over leadership of the entire pharma
business. Garijo is already CEO of Merck's biopharmaceutical
division, Merck Serono, to which she will add consumer health,
allergy treatments and biosimilars.
(1 US dollar = 0.7759 euro)
(Reporting by Georgina Prodhan and Ben Hirschler; Editing by David
Holmes)
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