Merck: shares extend gains with Keytruda
(CercleFinance.com) - Shares in Merck (+0.
7% at 60.6 dollars) continue to rise on Tuesday, after the European Medicines Agency (EMA) accepted the US group's application for review of Keytruda in combination with pemetrexed and chemotherapy for the first-line treatment of metastatic nonsquamous non-small cell lung cancer.
This means that the centralized review process has begun for the company's Type II Variation, based on overall survival and progression-free survival data from a phase III trial.
If approved by the agency, this would mark the third indication for Keytruda in metastatic NSCLC.
For the record, the stock already rose by 2.4% yesterday, after Goldman Sachs upgraded it from "neutral" to "buy," upping its previous 12-month price target from 63 dollars to 73 dollars, saying the narrative is quickly changing with the success of Keytruda.
According to the broker, the drug could has the potential to become a 16 billion dollar asset by 2025.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
7% at 60.6 dollars) continue to rise on Tuesday, after the European Medicines Agency (EMA) accepted the US group's application for review of Keytruda in combination with pemetrexed and chemotherapy for the first-line treatment of metastatic nonsquamous non-small cell lung cancer.
This means that the centralized review process has begun for the company's Type II Variation, based on overall survival and progression-free survival data from a phase III trial.
If approved by the agency, this would mark the third indication for Keytruda in metastatic NSCLC.
For the record, the stock already rose by 2.4% yesterday, after Goldman Sachs upgraded it from "neutral" to "buy," upping its previous 12-month price target from 63 dollars to 73 dollars, saying the narrative is quickly changing with the success of Keytruda.
According to the broker, the drug could has the potential to become a 16 billion dollar asset by 2025.
Copyright (c) 2018 CercleFinance.com. All rights reserved.