Merck and Eisai entered a global strategic oncology collaboration to jointly develop and commercialize Lenvima (lenvatinib) as monotherapy and in combination with Keytruda (pembrolizumab). Merck paid $300M upfront, up to $650M in option rights, $450M in R&D reimbursement, plus up to $4.36B in milestones. Eisai books all Lenvima sales globally with profits shared equally.
Did it work? Outcome assessment
Strategic verdict
Partially Achieved
Financial impact
Accretive
Pipeline outcome
Mixed
Assessment window: 5yr post-close.
Key facts
AnnouncedMar 08, 2018
ClosedMar 08, 2018
Deal value$5.8B
Deal typeCo-Development
Therapeutic areaOncology
IndicationsEndometrial Cancer, Hepatocellular Carcinoma, NSCLC, Head and Neck Cancer, Renal Cell Carcinoma
Key assetsLenvima (lenvatinib), Keytruda/Lenvima combination data