J.P. Morgan Calls Merck & Co's Hep C Treatment A "Modest Positive"

According to J.P. Morgan, Merck & Co

got FDA approval for the Victrelis (boceprevir) for Hepatitis C, both in treatment-naive and treatment-experienced patients, on Friday. J.P. Morgan said that, while it views Victrelis as a nice incremental product opportunity, it (and the Street) does not view the product as a major driver for Merck shares. “That said, we view this news (especially the relatively clean label) as a modest positive.” Merck & Co closed Friday at $37.08.