Merck KGaA has long said it's not afraid to spend big on bolstering its pipeline, and part of the German drugmaker's value-creation plan is a sizable investment in biosimilars. The company is still keeping its eye out for pharma deals big and small, Chairman Karl-Ludwig Kley told investors, but it's also planning to invest €100 million ($138 million) in biosimilars, an effort Kley said will help the company jump-start its drug business. More