With Keytruda, Merck has shown it has the wherewithal to compete in immuno-oncology against more experienced rivals. Now, as management outlined at ASCO, the company is digging its heels into the field, studying Keytruda in 30 tumor types and evaluating other early stage assets.

Biopharma financing increased 53% in Q4 to $8.8 billion; Actavis’ $65 billion takeover of Allergan topped the M&A activity, and Janssen led in dealmaking with six alliances.

Oncology companies have been garnering the most investment from venture capital firms over the last 10 years due to their high levels of innovation, according to a new report from the industry group.

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, Pharmaceuticals, and Research/Analytical – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced December 2014.