FDA Clears Keytruda Combo for Kidney Cancer, Reducing Recurrence Risk by 28%
MRK sits 55% above its 52-week low of $76.66.
Summary
The FDA has approved two Keytruda-based combinations with Welireg for specific patients with clear cell renal cell carcinoma after surgery. This approval is based on a Phase 3 study demonstrating a 28% reduction in the risk of cancer recurrence, spread, or death compared to Keytruda plus placebo. This expands Keytruda's market into a new, significant indication and marks the first approved combination of a PD-1 drug and an HIF-2 inhibitor, reinforcing Keytruda's blockbuster status.
At the time of this announcement, MRK was trading at $119.17 on NYSE in the Life Sciences sector, with a market capitalization of approximately $294B. The 52-week trading range was $76.66 to $125.14. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.