Mid-sized M&A, collaborations, creative financing, and biotech consolidation will feature in 2023. IPOs and follow-ons play bit-parts.

Leading Japanese firm reports solid growth in its fiscal nine months as it hints more may be to come after recent major deals to expand the mid- to late-stage pipeline and highlights progress for some key internal assets.

In this week's podcast version of Five Must-Know Things: Merck & Co. tells Scrip oncology will remain a key priority; J&J is responsibly cautious on growth; Takeda pays big for HutchMed drug; industry looks at likely US IRA impact; and lecanemab misses out on EU fast-track treatment.

The Japanese pharma agreed to pay $400m up front plus up to $730m in milestones for a colorectal cancer drug already on the market in China and nearing regulatory filings in the US, EU and Japan.