Report: Merck Searching Internally For Next CEO

Merck & Co., Inc. MRK is preparing for the departure of its CEO Kenneth Frazier and searching internally for a replacement, according to Bloomberg.

In May, Merck announced an agreement to acquire the clinical-stage biopharmaceutical company Peloton Therapeutics for $1.05 billion cash upfront and a further $1.15 billion if certain regulatory and sales milestones are reached.

On Wednesday, Merck & Co shares are trading up 0.19% at $84.66.

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Photo courtesy of Merck.