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Merck & Co. has acquired worldwide rights to LaNova Medicines' cancer therapy LM-299 for $588 million, a bispecific immunotherapy targeting PD-1 and VEGF, currently in Phase 1 testing. This move comes as a response to increasing competition, particularly after ivonescimab outperformed Keytruda in a lung cancer trial. The deal could yield LaNova up to $2.7 billion based on development milestones, highlighting Merck's strategy to bolster its pipeline ahead of Keytruda's patent expiration in 2028.
UBS is under investigation by US authorities regarding Russian clients inherited from its acquisition of Credit Suisse. The Office of Foreign Assets Control (OFAC) is scrutinizing these accounts, prompting UBS to segregate suspicious funds and close certain accounts to mitigate potential repercussions. While UBS is cooperating, the extent of problematic Russian funds remains unclear, as the bank sheds unwanted clients linked to Russia.
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merck invests in new cancer immunotherapy to counter keytruda competition
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01:00 14.11.2024
us investigates ubS over russian client accounts following cs acquisition
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08:19 13.11.2024
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