Biotech Values

[Titan V]

Merck Has Good Reasons for Its Keytruda Delay
https://www.bloomberg.com/gadfly/amp/articles/2017-10-30/merck-delays-keytruda-chemo-trial-results-for-good-reason

Slow and steady has been winning the race for Merck & Co. Inc.'s Keytruda in the multi-billion-dollar market for immune-boosting cancer medicines. Now it's being punished for that approach.

Merck on Friday revealed a change to a highly anticipated trial of Keytruda in combination with chemotherapy in newly diagnosed lung-cancer patients. It may push trial results into 2019, a year past previous expectations. Merck revealed later on Friday it was withdrawing an application for European approval of the combo based on a smaller earlier study. Shares dropped 6 percent on Friday and fell another 6 percent on Monday after analyst downgrades.

The delay may slow sales growth and make it likelier that Merck has to share more of the lung market with rivals. But the company deserves some credit for sticking to its cautious guns.

...