Merck KGaA Is Looking for Deals With €20 Billion War Chest

Merck KGaA has as much as €20 billion ($21.6 billion) of dealmaking firepower and is “scanning the market permanently” as the German company looks to accelerate growth, Chief Executive Officer Belen Garijo told Bloomberg TV at Davos.

Merck especially likes the life science sector, which includes research labs and biotech and pharma companies, because of the highly predictable and stable demand from customers, Garijo said.

The company is also interested in making deals — either bolt-on or bigger takeovers — to bolster its portfolio of medicines or to strengthen its semiconductor solutions business. Merck’s last multibillion deal was the 2019 ...