We believe investors with a long-term horizon should stay invested in MRK stock, while short-term investors should consider selling the same.
Merck & Co., Inc. (NYSE:MRK ) Jefferies London Healthcare Conference November 21, 2024 6:30 AM ET Corporate Participants Joe Romanelli - President, Human Health International Marjorie Green - SVP and Head of Oncology, Global Clinical Development, Merck Research Laboratories Conference Call Participants Akash Tewari - Jefferies Akash Tewari Good morning, everyone Day 3. We're at the end of it.
2 Beaten-Down Healthcare Stocks to Buy Hand Over Fist
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.