One Pipeline — How Merck Combines Internal Science with External Dealmaking ($50B Since 2019)

"One Pipeline" is the operating philosophy of Merck Research Laboratories — the idea that the best science wins, whether it comes from inside Merck's labs or from a partner. This module covers Dean Li's strategy, the BD&L hubs in Boston/Cambridge/London/Shanghai, and the specific deals (Verona, Cidara, Acceleron) that shape how Merck talks about collaboration in interviews.