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Buoyed By US Tax Reform, Merck Plans $12bn In Capital Investments

Executive Summary

Keytruda had a great year in 2017 with $3.8bn in sales, but some Merck investors would like to see more M&A activity to bolster the company's pipeline, relaxing dependency on the blockbuster PD-1 inhibitor. However, the company revealed $12bn in capital investments to support planned growth.

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