Revolution Medicines’ CEO faces questions about acquisition

Adam Feuerstein is a senior writer and biotech columnist, reporting on the crossroads of drug development, business, Wall Street, and biotechnology. He is also a co-host of the weekly biotech podcast The Readout Loud and author of the newsletter Adam’s Biotech Scorecard. You can reach Adam on Signal at stataf.54.

SAN FRANCISCO — Investors attending the J.P. Morgan Healthcare Conference packed themselves into a hotel meeting room Monday to hear Revolution Medicines CEO Mark Goldsmith explain why Merck — or some other pharma buyer — should pay $30 billion or more to acquire the developer of targeted cancer drugs. 

Goldsmith didn’t specifically address the media reports of an imminent deal, of course. It was the subtext of his remarks, delivered in a dry, matter-of-fact style, that spoke much more loudly. 

J.P. Morgan analyst Brian Cheng, the host of the session, gave it a good try. “Do you see yourself building something bigger?” he asked Goldsmith. “How do you balance your goal in building a bigger company versus taking strategic transactions in front of you?”