The U.S. Food and Drug Administration issued an alert on issues discovered in ongoing studies of Merck & Co., Inc. MRK 0.12%’s Keytruda Roche’s Tecentriq, according to a headline from Bloomberg. Regulators reportedly found that some patients had decreased survival.
Why It’s Important
Keytruda, which is already approved for the treatment of cancers such as melanoma, non-small cell lung cancer and Hodgkin lymphoma, is a considered a major opportunity for Merck. Updates on the drug are enough to move the stock and sway bearish experts.
A threat to Keytruda is notable for Merck, but it also carries implications for Bristol-Myers Squibb Co BMY 0.06%, whose Opdivo competes for market share. BMO Capital Markets recently noted the drugs are “more similar than different.”
Merck shares initially fell 3 percent on the news, while Bristol Myers rose marginally.
What’s Next
The FDA has not yet published a report on the matter, but clarity on the alleged “issues” could help or hurt the rival drugmakers.
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