In recent weeks, financial participants have remained pessimistic about Merck's development prospects, partly due to the nomination of Robert F. Kennedy Jr. as head of HHS. However, I believe Mr. Market overreacted to this news, given the strong performance of Merck's oncology franchise in recent quarters. So, sales of Keytruda amounted to $7.43 billion for the three months ended September 30, 2024, an increase of 17.2% year-over-year.
The company has been preparing for the 2028 expiration of its patents protecting Keytruda.
CNBC's Angelica Peebles reports on news from Merck.
The news may help Merck retain sales of Keytruda, which is the world's best-selling drug.
Merck said on Tuesday a study showed that its injectable version of cancer drug Keytruda was not inferior to the currently approved intravenous formulation of its treatment, likely making it even more accessible and easier to administer.
The CHMP renders a positive opinion recommending approval for MRK's Keytruda for the first-line treatment of malignant pleural mesothelioma.
This is my latest article where I provide predictions of upcoming dividend increases from companies with long-term dividend growth histories. I expect 10 companies to announce their annual increases in the second half of November, including modest increases from Merck and a 10%+ increase from Raymond James Financial. Hormel Foods is expected to announce its 59th consecutive year of dividend growth, highlighting its long-term commitment to dividend increases.
MRK in-licenses a bispecific antibody, based on the same mechanism as SMMT's lead drug, which outperformed its blockbuster drug, Keytruda, in a lung cancer study.
Merck's stock is undervalued, trading at less than 4x expected 2024 revenues, despite strong revenue growth from Keytruda and other drugs. Keytruda's revenue is projected to increase by 70% from 2024 to 2032. Declining Gardasil sales in China and competition from Summit Therapeutics and Roche's Tecentriq may have contributed to recent stock volatility.
Merck has signed a licensing agreement worth up to $3.3 billion with Shanghai-based LaNova Medicines to develop, make and sell an experimental cancer drug, the two companies said on Thursday.
Merck & Co., Inc. (NYSE:MRK ) UBS Global Healthcare Conference November 13, 2024 12:30 PM ET Company Participants Jannie Oosthuizen - President of Human Health of the U.S. Joerg Koglin - SVP of Clinical Research Conference Call Participants Trung Huynh - UBS Trung Huynh Okay, great. I think we're at time here.
Recently, Zacks.com users have been paying close attention to Merck (MRK). This makes it worthwhile to examine what the stock has in store.