Merck is no longer in discussions to buy cancer drug developer Revolution Medicines , the Wall Street Journal reported on Sunday.
The drugmaker had recently been in discussions to acquire RevMed in a deal that could have valued the cancer-drug biotech at around $30 billion.
Merck (MRK) concluded the recent trading session at $111.11, signifying a +1.52% move from its prior day's close.
Gardasil's sharp sales slump in China and Japan puts Merck under pressure heading into Q4 earnings, with the vaccine's sales expected to stay under strain.
MRK is up over 32% in three months, but declining estimates, Keytruda's upcoming LOE and Gardasil declines keep the stock sell-rated.
Merck stock surged more than 10% in a month after management delivered a confidence shock on January 12th. They're now projecting that their next-generation drugs—treatments for cardiometabolic, respiratory, and infectious diseases—will yield $70 billion by the mid-2030s.
Keytruda drives over half of MRK's pharma revenues, but softer Q3 sales put investor focus on whether the blockbuster drug can lift Q4 sales performance.
Merck & Co., Inc. (MRK) Presents at 44th Annual J.P. Morgan Healthcare Conference Transcript
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Revolution is developing drugs that target a molecular driver of cancers.
Merck is in talks to acquire RVMD, which could bolster its oncology pipeline, according to a Financial Times report.
Merck (MRK) concluded the recent trading session at $110.99, signifying a +2.2% move from its prior day's close.