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Robert M. Davis

Robert M. Davis

CEO of Merck

Appears in 2 stories

Education: Northwestern Pritzker School of Law

Notable Quotes

"The acquisition of Terns builds on our growing presence in hematology with TERN-701, a potential best-in-class candidate for the treatment of certain patients with chronic myeloid leukemia." — March 25, 2026

"This transaction further diversifies and strengthens our position in oncology as we continue to look for opportunities to broaden our portfolio into other therapeutic areas."

Davis has told investors Merck plans to build a portfolio of roughly 20 new launches by 2030, calling business development 'a top capital allocation priority.'

Stories

Merck races to rebuild its drug portfolio before Keytruda's patent expires

Money Moves

Leading Merck's patent-cliff strategy

Keytruda, the world's best-selling drug, generated $31.7 billion for Merck in 2025 — roughly 40% of the company's total revenue. Its key U.S. patents expire in 2028, and when they do, cheaper copies will enter the market and that revenue will begin to evaporate. Merck has now spent over $25 billion on three acquisitions in nine months to build the portfolio that will need to replace it.

Updated May 30

Big pharma's debt-funded biotech buying spree

Money Moves

Executing pipeline strategy to offset Keytruda's 2028 U.S. patent loss

Merck borrowed billions in the investment-grade bond market on Monday. The cash refinances its $6.7 billion all-cash purchase of Terns Pharmaceuticals, a small California biotech the company closed on two weeks ago.

Updated May 18