Shares of Summit Therapeutics Inc. SMMT, +272.06% jumped more than 270% Thursday after the company said its experimental cancer drug outperformed Merck & Co. Inc.'s blockbuster Keytruda in a late-stage clinical trial.
Merck's (MRK) acquisition of EyeBio is set to add the latter's lead pipeline candidate, Restoret, a novel Wnt agonist antibody being developed for treating retinal diseases.
Merck & Co Inc (NYSE:MRK, ETR:6MK) announced it is acquiring Eyebio, a privately held ophthalmology-focused biotech firm, in a deal valued up to $3 billion. Through a subsidiary, Merck will acquire Eyebio for an upfront payment of $1.3 billion in cash with a further potential $1.7 billion in development, regulatory and commercial milestone payments.
Merck stock is still a buy despite near-record stock prices. Thanks to its growth outlook, its current valuation is still far below the Graham P/E, leaving a wide margin of safety. Its well-balanced business model, top-grossing Keytruda franchise, and superb financial strength further skew the return/risk profile.
The pharmaceutical company agreed to buy eye drug company Eyebiotech for up to $3 billion as it moves to diversify its pipeline and intensifies its acquisition efforts.
Merck said on Wednesday it would acquire eye disease drug developer EyeBio for up to $3 billion, in the latest acquisition by the U.S. drugmaker as it looks to boost growth.
Merck & Co. Inc. MRK, -2.63% announced Wednesday an agreement to buy privately held Eyebiotech Ltd., an ophthalmology-focused biotechnology company, in a deal that could be valued at up to $3 billion.
Merck & Co is nearing a $1.3 billion cash deal to buy ophthalmology biotechnology company Eyebiotech in an agreement that could see an additional $1.7 billion in milestone payments, the Wall Street Journal reported on Tuesday.
The "Sell in May and go away" adage suggests selling stocks in May and returning in November, but historical data shows that June and July have been strong months. September is consistently the worst month for the stock market, with unpredictable returns, while November has historically been the best month. Selling stocks should be based on valuation rather than following a seasonal strategy, focusing on rotating out of overvalued stocks and into undervalued ones.
Vaccination of boys and men against the human papillomavirus (HPV) reduces their risk of head and neck cancers and other malignancies, a new analysis shows, adding to the vaccine's proven benefit in protecting women from cervical cancer.
A vaccine that's widely known to help protect women from cervical cancer can also offer big health benefits for men, new research shows.
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