• The FDA has granted accelerated approval to Bavencio (avelumab), the first approved therapy for metastatic Merkel cell carcinoma, developed through Merck KGaA and Pfizer's collaboration.
• Bavencio becomes the fourth checkpoint inhibitor to enter the market, joining established immunotherapies from Bristol-Myers Squibb, Merck & Co, and Roche in the oncology space.
• The drug's peak sales are projected to reach $4-6 billion, with development ongoing in multiple cancer indications including first-line lung cancer, gastric cancer, and ovarian cancer.