Pharma BD Deal Intelligence

Merck & Co. Inc. / Bristol-Myers Squibb Company

2017 · Licensing/Option · $625M · Complete

CALLED IT — OFF BY 11
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Jan 23, 2017 BioPharma Dive Neutral

Merck pays $625M to settle patent battle with Bristol-Myers Squibb and Ono over PD-1 antibody Keytruda intellectual property rights

Apr 17, 2026 Merck Neutral

Merck announces settlement and license agreement resolving Keytruda pembrolizumab patent litigation with BMS and Ono for $625 million

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Merck settled patent litigation with BMS and Ono Pharmaceutical over Keytruda (pembrolizumab) by paying $625M upfront plus ongoing royalties on worldwide Keytruda sales. The settlement resolved disputes over anti-PD-1 antibody intellectual property, enabling Merck to continue marketing Keytruda, which became the world's top-selling drug exceeding $25B in annual sales.

Key facts

Related deals — scored

DealYearValueOutcome
Merck & Co. Inc. / Bristol-Myers Squibb Company (this deal)2017$625M74
Merck & Co. Inc. / Acceleron Pharma Inc.2021$11.5B90
Merck & Co. Inc. / Peloton Therapeutics Inc.2019$2.2B88
Merck & Co. Inc. / AstraZeneca PLC2017$8.5B87
Merck & Co. Inc. / Moderna, Inc.2022$250M86
Merck & Co. Inc. / Moderna, Inc.2016$250M84
Merck & Co. Inc. / Eisai Co., Ltd.2018$5.8B83

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