Rossetti Sets A High Bar At Merck Serono
Once-moribund Merck Serono has hired former Merck R&D exec Luciano Rossetti to re-energize its attempts at an R&D turnaround. A deal with Pfizer for the PD-L1 inhibitor avelumab has the company off to a good re-start.
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Later-than-expected tenders in Europe and emerging clinical data are expected to allow sales of best-seller Erbitux to start growing again after an unexpected first-quarter decline, as the German company starts late-stage studies with PD-L1 inhibitor avelumab in its collaboration with Pfizer.
Merck KGAA’s $13 billion acquisition of Serono in 2006 created an unwieldy pharmaceutical organization further hobbled by expensive clinical setbacks. Seven years later, driven by new leadership, it is in the midst of an overdue transformation.
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