Homepage / Investment / Merck shares dive after multiple firms downgrade on cancer drug withdrawal
Les Gambling establishments en Ligne en France 2024 200% Reward + 300 Free Rotates LevelUp Internet casino Melbourne En İyi ve Güvenilir Casino Siteleri Canlı Casino Siteleri 2023 Listesi En İyi ve Güvenilir Casino Siteleri Canlı Casino Siteleri 2023 Listesi Le meilleur casino en ligne franзais Extra Casino avec le dйpфt minimal le in addition bas Yeni Casino Siteleri ᐈ Çevrimiçi Kumarhaneler Mart 2024 Les gambling establishments en ligne proposent une grande variйtй de jeux de internet casino gratuits. Türkiye’deki Resmi Web Sitesi Google Play, Türkiye’de kumar oyunlarına izin verecek Her Gün Tatil Olsa ORDU’DA PAZARTESİ GÜNÜ FINDIK FİYATI NASIL? كازينو اون لاين الكازينوهات الممتازة على الإنترنت ألعاب الكازينو المباشرة مينا كازينو العر Google Play, Türkiye’de kumar oyunlarına izin verecek Domain Sorgulama & Domain Fýrsatlarý Canlı Casino Siteleri: 2024 Güvenilir Siteler Seçilmiştir Golden Easter Slot İncelemesi 2024, Demoyu Ücretsiz Oynayın Golden Easter Slot İncelemesi 2024, Demoyu Ücretsiz Oynayın 1xbet Türkiye Giriş Empieza Kayıt 202 Kumar Ve Kumarhaneler Hakkında Pek İlginç 21 Bilgi Kumarhane Doğru Yazımı Nedir? Tdk Ile Kumarhane Kelimesinin Doğru Yazılışı! Mobilbahiste En İyi Kumar Bonusları Ve Kazançlar Mobilbahis Giriş Sayfası On Line Casino Siteleri En Iyi Casino Siteleri 2024 Mostbet: Türkiye’de Internet Casino Mostbet Online Slotlar Ve Canlı-casin Pin Up Casino Oyna Türkiye, Pinup’un Sah Web Sites Ifade Haberleri Son Dakika Ifade Hakkında Güncel Haber Ve Bilgiler “önceliğimiz Transferin Önünü Açmak, Görüştüğümüz Yerler Var” On Line Casino Nuh’un Gemisi Deluxe Resort & Spa, Kıbrıs Bonus Veren Siteler 3 000 Den Fazla Online Oyunu Ücretsiz Oyna En Tehlikeli Kumar Oyunu Ekşi Sözlük Deneme Bonusu Veren Siteler Deneme Bonusu 2024 Explore the Magic of WildCardCity Güvenilir Bahis Siteleri En İyi Kumar Siteleri Balıkesir Triatlonuna Avrupadan Ödül Tricks of the Aviator gambling establishment game by Spribe Çevrim Içi Kumar Siteleri “bonus” Yalanıyla Kandırıyor En Güvenilir Canlı On Line Casino Siteleri Xbetting-tips Com Uncovering the Abundant Tapestry of Ozwin Gambling establishment Evaluating Board Portal Providers Uncovering the Wealthy Tapestry of Ozwin On line casino Electronic Data Area Providers Evaluation Cobra Internet casino: Raising the Australian On the internet Video gaming Practical experience 4 Things to Search for in Safeguarded Cloud Safe-keeping Fastpay On line casino Australia – Simple and No-Taxation Wagering Web page officielle franзaise de Joka Gambling establishment The Software Development Universe Game Woo Internet casino – Enjoy Slot machine games around australia Ostdeutsche Biersorten What Are Virtual Data Rooms? Vitamin D Receptor Polymorphisms Revue du Casino BlackLabel Faktory, kterй ovlivnujн hodnocenн ceskэch online kasin How to Make the Most of Your Web Development Organization and Advertising Efforts L’essor des casinos en ligne en France Boost Meeting Efficiency With Boardroom Technology Developments WildJoker Casino WildCardCity On line casino – Guaranteed Australian Gambling Portal WildCardCity Casino – The Ideal On the internet Gambling establishment within australia Modern Technologies Produce Sharing Documents Online Faster and More Protect Free Virtual Info Room pertaining to Speedy Due Diligence A Review of Data Area Software For people who do buiness Five Board Bedroom Features Which will help You Acquire a More Productive Boardroom Electronic Systems To your Business Understanding Legal Terms and Laws in Today’s World The Laws and Contracts of Hollywood: A Sunset Blvd. Tale Legal Discussion Between Johnny Cash and Antonin Scalia Legal Insights: What Teens Should Know Legal Issues and Exceptions: What You Need to Know Legal Insights and Expert Analysis Celebrity Dialogue: Legal Matters in the 21st Century Famous Personalities Discuss Legal Issues The Boys in the Boat: Legal Advisors and The Quest for Legal Knowledge Understanding Legal Matters: Q&A on Criminal Law, Joint Ventures, and More Enticing Title The Departed: Understanding Basic Work Requirements and Legal Rights Youth Slang Blog Article Legal Insights: A Journey into the World of Law The Ins and Outs of Legal Matters: Everything You Need to Know Legal Insights and Trends: A Rap Guide Mysterious Legal Matters Unveiled Insights and Information: Understanding Various Laws and Regulations Famous People of the 21st Century The Circle of Legal Life The Intersection of Fashion Law, Legal Translation, and THC Oil: A Modern Legal Guide Legal Q&A: Understanding Joinder Federal Rules and More Understanding Legal Terms and Conditions: A Comprehensive Guide Understanding Legal Documentation in a Fun Way! Understanding Legal Aspects: From Islamic Law of Inheritance to Farm Law Protests Understanding Legal Rights: A Guide to Legal Regulations and Requirements Understanding Legal Guidelines and Agreements Famous 21st Century People in Conversation Mysterious Legal Matters Unveiled Legal Matters and Real Estate: A Conversation Between Cameron Boyce and Donald Trump Understanding Legal Expertise and Why It Matters Legal FAQs and Expert Services Understanding Legal Ramifications: Common Law Ontario Health Benefits and More The Ins and Outs of Legal Requirements: From FBI Academy Physical Requirements to Silver Lake Fishing Rules The Legal Underworld: Understanding the Significance of Laws and Rights Legal Conversations: A Dialogue Between Jon Jones and Chadwick Boseman Legal Beats: Bobcats, Real Estate, Babysitting, and More

Investment

Merck shares dive after multiple firms downgrade on cancer drug withdrawal

Merck shares dove after multiple firms downgraded the company, citing delays in lung cancer trial results and a withdrawal of the company’s application to market oncology drug Keytruda for lung cancer in the European Union.

The company announced Friday after the closing bell that it was pulling its application, a decision analysts at SunTrust Robinson Humphrey deemed “troubling.” Keytruda received accelerated approval from the Food and Drug Administration for treatment of non-small cell lung cancer in May, but analyst John Boris suggested that Merck may be holding off overseas until U.S. regulators get a better sense of trial data from research studies known as “Keynotes.”

Boris said the withdrawal signals that regulators aren’t comfortable with the drug.

“The delay also shaves off valuable time for Merck to establish itself as the immune-oncology standard-of-care in first-line non-small cell lung cancer patients,” he said.

Shares of Merck fell roughly 4.8 percent Monday.

Boris highlighted that competition from Bristol-Myers Squibb’s Opdivo may take advantage of Merck’s delay in Europe, putting downward pressure on Wall Street’s sales estimates for Keytrude in 2018 and 2019. Bristol-Myers Squibb shares added 2.6 Monday.

Company spokesperson Pamela Eisele told CNBC in an email said Merck has “a number of ongoing studies” for the drug. “We look forward to sharing future study findings and remain committed to working with the (European Medicines Agency) to bring new treatment regimens to patients who urgently need new options,” she said.

Eisele added that the company plans to submit a new application to the EU once additional data in its patient population is available.

Opdivo and Keytruda belong to new class of drugs called PD-1 inhibitors, which work by blocking a mechanism tumors use to avoid the immune system.

Boris cut his Merck price target to $54 from $73, representing 7 percent downside from Friday’s close. He also cut his fiscal year 2018 earnings per share estimate to $4.07 from $4.12.

Morgan Stanley also downgraded the company to equal-weight on the Keytruda delays and cut earnings expectations.

“We and consensus had expected a delay, but not of that duration,” wrote Morgan Stanley analyst David Risinger in a note to clients. He said Merck shares likely will not outperform until the drug tests successfully, and could face pressure from competitors coming on line.

Rounding out the group, Barclays analyst Geoff Meacham also downgraded the stock Monday.

“Our prior thesis had assumed that Keytruda could drive better than expected growth over the intermediate term,” wrote Meacham. “We see less upside potential for Keytruda sales in lung cancer, the biggest immuno-oncology market. We don’t think this means that immuno-oncology rivals will leapfrog Merck, but both Bristol and Roche could have front-line non-small cell lung cancer data in late 2017/early 2018 that could further weigh on sentiment.”

Source: Investment Cnbc
Merck shares dive after multiple firms downgrade on cancer drug withdrawal

Comments are closed.