Dutch Court Halts Keytruda SC Sales in 8 EU Countries Over Patent Dispute
MRK sits 78% above its 52-week low of $82.01.
Summary
A Dutch court found Merck infringed Halozyme's MDASE patent and ordered a halt to Keytruda SC manufacture and sales in eight European countries. Merck disputes the verdict and is reviewing options. This is a material setback for the subcutaneous Keytruda franchise in Europe, though the full financial impact is not yet quantified. Separately, Merck began construction of a $3B Virginia plant as part of its >$70B U.S. investment plan, and two analysts raised price targets (JPMorgan to $165, Cantor to $145). The company was also named in a U.S. funding-related research-site inquiry, with no evidence of illegal activity noted.
At the time of this announcement, MRK was trading at $145.60 on NYSE in the Life Sciences sector, with a market capitalization of approximately $359.2B. The 52-week trading range was $82.01 to $156.92. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.