Keytruda brought in its usual stacks of cash, but Merck’s Q3 earnings call focused largely on a recent alliance with Daiichi Sankyo and the pharma’s growing emphasis on cancer ADCs.

As a first-line treatment for anemia in patients with myelodysplastic syndromes, Reblozyl is approved for indications that will account for 75%-80% of the $4bn-plus in sales Bristol has forecast by 2029.

Private Company Edition: Venture capital mega-rounds of $100m or more held steady in April after a slow January and February then a surge in March, but VC fundraising is down overall this year. In recent raises, Enveda series B expanded to $119m, Vedanta brought in $106.5m and Convergent raised $90m.

Merck has taken two important steps towards its goal of achieving eight new cardiovascular drug approvals by 2030, presenting promising data for two potential blockbusters at the ACC meeting.