Morgan Stanley analyst David Risinger raised his rating on Merck to overweight from underweight, saying the company’s prospects for a new cancer drug have improved and could bring more than $6 billion in annual sales by 2020. Shares were up 3% to $53.57 in recent action.
Risinger noted Merck’s decision to file for approval for the drug – known as MK-3475, it is geared toward boosting the immune system to fight cancer –a year earlier than expected. He also pointed out Bristol-Myers Squibb Co. revealed on Friday it’s not sure its competitor to MK-3475, a combination of drugs known as Yervoy and PD-1, may not dominate the market for treatment of lung cancer.
Market Data 
Markets 
AI
