Biotech Values

[DewDiligence]

MRK—I think investors will be surprised in their internal biologics efforts in a few years forward.

For the first few years, sales from MRK’s biologics program will be mostly or exclusively the Enbrel biosimilar from Hanwha, which is in phase-3 trials in Korea (#msg-64164954).

All told, I think MRK’s stock is somewhat less attractive than NVS, ABT, and PFE at the current valuations.