Frazier, one of America’s most prominent Black executives, stepped down as CEO of Merck after a decade-long tenure during which he revitalized the drugmaker. He remains executive chairman. He took a major new role as the chairman of health assurance initiatives at General Catalyst, the venture capital firm known for its backing of companies like Airbnb and Stripe. “We’re going to use our network, our resources, our talent infrastructure and our convening power to address health equity issues,” Frazier said in October. Things haven’t been quiet on the Merck front: The company helped develop one of the first Covid antiviral pills, molnupiravir, and granted a royalty-free license to it to a U.N.-backed patent pool. That means lower-income countries may have better access to the drug.