One of the biggest concerns with healthcare giant Merck (NYSE: MRK) is its dependence on top-selling cancer drug Keytruda. While it has been a beast for the business over the years, generating billions in revenue, investors are always concerned about what else is ahead for the business in the long run and how strong the company’s growth prospects will be, especially as patents run out.
Recently, Merck announced an important acquisition, which may alleviate some of those concerns around its future growth. For the price of $10 billion, it’s acquiring Verona Pharma (NASDAQ: VRNA). Here’s what that might mean for Merck’s operations, and whether it makes the stock a no-brainer buy right now.
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