|Day's range||5.50 - 5.50|
ERVEBO® (Ebola Zaire Vaccine, Live) Now Registered in Four African Countries, Within 90 Days of Reference Country Approval and WHO Prequalification
(Bloomberg) -- Merck & Co. stock fell to a three-month low on Wednesday after what appeared to be promising data in an aggressive form of breast cancer. But it’s not the data moving shares, Evercore ISI told investors.Instead that as much as 2.5% drop was driven by a rotation away from Merck and into “another large cap pharma name,” Umer Raffat concluded. Evercore declined to comment on which peer it was, saying it was restricted on that stock.That leaves open the door to a number of possibilities as health-care traders pointed to a move away from long investments and toward crowded short names like AbbVie Inc. or Bristol-Myers Squibb Co. Both those companies have more than twice the notional short interest than Merck’s $2.1 billion, according to data from S3 Partners. Evercore suspended coverage on AbbVie last year and has been advising the drugmaker on its deal for Allergan Plc.Technicals could also be spurring the move lower after Merck dropped below its 200-daily moving average Wednesday. The stock has fallen 5.7% since announcing plans for a spinoff last week that analysts warned would only increase its reliance on its top-selling drug Keytruda.To contact the reporter on this story: Cristin Flanagan in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Merck’s KEYTRUDA in Combination with Chemotherapy Met Primary Endpoint of PFS as First-Line Treatment for Metastatic Triple-Negative Breast Cancer
The yearly results for Merck & Co., Inc. (NYSE:MRK) were released last week, making it a good time to revisit its...
(Bloomberg) -- Merck & Co.’s plan to spin off its women’s health and biosimilar medicines units is sparking debate about its dependence on its top-selling drug among Wall Street analysts.The move to shed assets will further increase the drugmaker’s reliance on its blockbuster cancer medicine -- Keytruda -- and that’s not sitting well with some. That strategy may fuel a bulls vs bears controversy as Keytruda faces off against lower-priced competition in China and trial results may challenge the medicine’s supremacy in the U.S.A once “easy to own” story introduces a “valuation debate into a well-owned stock,” RBC analyst Randall Stanicky cautioned. “While perhaps unfair, we expect Keytruda concentration to become a bigger theme into competitor data that, while lower-risk, will add questions,” he wrote to clients in a note.Stanicky is one of four of the 20 analysts tracked by Bloomberg who remain neutral on Merck. He trimmed his share price target on the sector perform-rated company to $92 from $99. The company’s stock has dropped over 3% since it announced the spinoff.Even before Merck announced the new set up and ahead of Thursday night’s earnings SVB Leerink analyst Daina Graybosch voiced her concerns about Keytruda drawing political scrutiny during an election year after it overtook Revlimid last year to be the world’s top-selling cancer medicine. Bloomberg compiled sales estimates show Keytruda is on pace to overtake AbbVie Inc.’s Humira as the world’s top-selling medicine in 2023.“Investors have been wary of companies that rely on a single-product,” and Keytruda is set to become half of Merck’s sales by 2027 or 2028, she wrote earlier today.Competitive results -- like those from a kidney cancer drug combination from Bristol-Myers Squibb and Exelixis Inc. expected in the first quarter -- could hurt Keytruda’s dominance if they are able to demonstrate more efficacy, she said. Despite potential Keytruda “roadblocks” Graybosch kept her outperform rating while trimming her share price forecast to $100 from $103 on reimbursement concerns outside the U.S.Morgan Stanley’s David Risinger remained bullish: “Although Keytruda faces competitive threats, we assume that Keytruda’s efficacy bar remains difficult to beat. If there is a novel therapy that outperforms Keytruda some day, that regimen would likely carry additional toxicity...which would likely raise questions about its benefit-risk ratio.”Risinger took down his price target by $4 to $97. The current average price target of $99 implies Merck shares may advance 15% over the next year.(Updates to add chart)\--With assistance from David Tung, Tara Israel and Michael J. Burdette.To contact the reporter on this story: Cristin Flanagan in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Divya Balji, Scott SchnipperFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Bristol-Myers (BMY) beats both earnings and sales estimates in the fourth quarter, primarily on robust sales of Eliquis and acquisition of Celgene.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Merck (MRK) have what it takes? Let's find out.
U.S. stocks rallied for a third straight day on Wednesday on encouraging U.S. economic data and waning fears of the financial fallout from a virus out of China but losses in Tesla shares pulled the Nasdaq off its record high. The ADP National Employment Report showed private payrolls jumped by 291,000 jobs in January, the most since May 2015, while a separate report showed U.S. services sector activity picked up in January, suggesting the economy could continue to grow moderately this year even as consumer spending is slowing. "There is at least not as much of a fear of an outcome of a pandemic that will have as much economic pressure globally as maybe initially was thought,” said Delores Rubin, senior equities trader at Deutsche Bank Wealth Management in New York.
Monthly private-sector payrolls from Automatic Data Processing (ADP) for January posted their highest level this morning since May 2015, to a whopping 291K new private-sector jobs having been created.
Merck (MRK) beats estimates for earnings but misses the same for sales in fourth-quarter 2019. The company plans to spin off Women Health drugs/biosimilars into new company. Shares down.
Investing.com - Merck&Co; reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced financial results for the fourth quarter and full year of 2019.
Merck to Focus on Key Growth Pillars Through Spinoff of Women’s Health, Trusted Legacy Brands and Biosimilars Products into New Company ("NewCo")
Investors will focus on the performance of Opdivo, Revlimid and Eliquis along with the regular top and bottom-line numbers when Bristol-Myers (BMY) reports fourth-quarter results.
AbbVie's (ABBV) Q4 top-line results are expected to reflect biosimilar competition for Humira in international markets. However, oncology drugs might demonstrate strong growth.
Bristol-Myers (BMY) has withdrawn its application in the EU for the Opdivo and Yervoy combo for the treatment of advanced NSCLC based on data from the CheckMate-227 study.