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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

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


Related Articles (BMY + MRK)

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