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Merck, Bristol Myers Shares Move On Alleged FDA Alert On Keytruda

Merck, Bristol Myers Shares Move On Alleged FDA Alert On Keytruda
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The U.S. Food and Drug Administration issued an alert on issues discovered in ongoing studies of Merck & Co., Inc. (NYSE: MRK)’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 (NYSE: BMY), 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.

Related Links:

One Up, One Down: Morgan Stanley Flips Merck, Bristol-Myers Ratings

BMO Sees Balanced Risk-Reward In Bristol-Myers, Takes Neutral Position

Posted-In: Keytruda OpdivoNews Rumors FDA Best of Benzinga


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