That may sound good to people who don't know much, but it would not save their existing patent. It could lead to a new way of giving the drug and add a new version of the patent, but it would not protect the existing monopoly. Other manufacturers would be able to step in and sell it in its current form and they would have all the previously approvals to target, whereas Merck would have to prove again that subcutaneous administration works as well as the previous method in every instance. It's not a useful way to save the existing administration and they have already said they are looking at large and potentially surprising acquisitions to protect their current franchise.
Merck has lots, and lots of cash, and the CEO has said he intends to spend it to ensure growth. He has also said that we should not be surprised by this and what they might buy. The strategy you point to would be just another option among many, but not the main effort driving Merck's protection of its huge franchise at this point.
That's not to say that Merck would be the only potential suitor. Could be BMY, and could be other companies. And of course NWBO might not take any offers at this time and we might never hear about anything. But I think your view of Merck, as not being out to acquire assets and ways to extend their franchise or improve it, is incorrect. Clearly they are acquiring companies and they intend to continue doing so.
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