Merck & Co., Inc. (NYSE:MRK ) Goldman Sachs 45th Annual Global Healthcare Conference Call June 11, 2024 10:00 AM ET Company Participants Robert Davis - Chairman, President and Chief Executive Officer Dean Li - Executive Vice President and President, Merck Research Laboratories Conference Call Participants Chris Shibutani - Goldman Sachs Chris Shibutani Okay, let's get underway. Good morning, everybody, and welcome to the Second Day of the conference.
Merck is focused on second and third-generation opportunities in the cardiometabolic drugs market, which includes treatments for obesity, the drugmaker said at a healthcare conference on Tuesday.
Merck's Keytruda drug has shown promising results in treating bowel cancer, according to Germany's largest newspaper. Merck has significantly increased its oncology portfolio, with Keytruda achieving nine U.S. approvals in earlier-stage cancers. The company's phase III trials targeting earlier-stage cancers have shown impressive outcomes, including a reduction in the risk of death for patients with lung and renal cell cancers.
Several notable billionaire hedge fund managers have bought shares of Pfizer or Merck recently. Despite immediate or upcoming headwinds, both companies look like strong picks for income investors.
The latest trading day saw Merck (MRK) settling at $129.45, representing a +0.57% change from its previous close.
Merck & Co., Inc. (NYSE:MRK ) Investor Event at ASCO 2024 June 3, 2024 7:00 PM ET Company Participants Peter Dannenbaum - Senior Vice President, Investor Relations Dean Li - President of Merck Research Labs Eliav Barr - Chief Medical Officer & Head of Global Clinical Development Marjorie Green - Senior VP & Head of Late-Stage Oncology, Global Clinical Development Chirfi Guindo - Senior VP & Chief Marketing Officer of Human Health Joanne Monahan - Senior Vice President, US Oncology Conference Call Participants Carter Gould - Barclays Chris Schott - JPMorgan Evan Seigerman - BMO Capital Markets Akash Tewari - Jefferies Steve Scala - TD Cowen Chris Shibutani - Goldman Sachs Trung Huynh - UBS Mohit Bansal - Wells Fargo Dan Ziment - Morgan Stanley Daina Graybosch - Leerink Partners Operator Thank you for standing by. Welcome to the Merck & Co., Inc. Investor Event at the American Society of Clinical Oncology Annual Meeting.
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.