The analysts elaborated that the pipeline includes an expected increase in sales of Keytruda, a melanoma treatment drug used on President Jimmy Carter, which helped him become cancer free.
"Clinics around the country were hearing, 'I want what Jimmy Carter had,'" said Dr. Patrick Ott, a melanoma specialist at the Dana-Farber Cancer Institute in Boston.
To its benefit, Keytruda has been approved for additional indications.
The recent European approval of Hep C drug Zepatier in all 28 EU member states, is seen as revenue driver for the second half of 2016 as well, according to Argus.
Argus reiterated its Buy rating on Merck with a target price of $65.
At time of writing, Merck was down 1.99 percent at $61.95.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
