Merck’s Frazier Urges Businesses To Use ‘Every Instrument At Their Disposal’ To Reduce Racial Inequity
‘What we have to guard against is that when the streets quiet down … a lot of people are going to go back to their normal lives,’ Merck CEO Ken Frazier says in an interview with CNBC.
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Private Company Edition: The latest $100m-plus VC financings include $112.5m for PepGen, Deep Genomics’ $180m series C round and a $166m series D for Rakuten Medical. Also, Lumira Ventures raised a $220m fourth fund and will manage a separate $35m fund backed by Angelini Pharma.
Merck & Co.'s CFO Robert Davis will succeed Ken Frazier as CEO. Frazier was one of the architects of the Schering-Plough acquisition, which shaped the pharma for the next decade and delivered its top-selling drug, Keytruda.
The company previously cut 2020 revenue expectations by $2.5bn, including $1.7bn for pharma products. Keytruda’s dominance and portfolio diversification also may dominate second quarter call.