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A review of the latest executive moves in the pharma industry over the past several months.

On a collaboration streak, Merck is pouring a potential $3.5 billion into a partnership with circular RNA company Orna Therapeutics to develop and commercialize multiple oncology and infectious disease programs. 

With an investment valued at up to $1.1 billion, Merck is diving back into Alzheimer’s research through a collaboration with Cerevance.