Merck & Co joins ranks of big pharma firms pursuing the SHP2 area of oncology as it picks up global rights to a portfolio of inhibitors originating from two affiliates of Japan's Otsuka Pharmaceutical.

2020 has kicked off with a major European biotech deal that will see the Italian conglomerate Angelini take over Switzerland's Arvelle which is on the verge of getting EU approval for an anti-epilepsy drug licensed from SK Bio that got the green light in the US two years ago.

One expert said the company should focus efforts on developing the drug for maintenance treatment of AML.

Lundbeck also makes progress in the third quarter with its early clinical-stage neuroscience candidates and indication extension studies for its psychiatry products, while confirming and narrowing  revenues and earnings forecasts for the year.