Merck's Keytruda-Padcev Combo Nears EU Approval for Bladder Cancer After Positive EMA Opinion
MRK sits 57% above its 52-week low of $75.4.
Summary
Merck received a positive opinion from the EU's CHMP for its Keytruda-Padcev combination to treat a subset of bladder cancer patients. This recommendation is a key step towards market authorization in the EU for a new indication for Keytruda, a blockbuster drug. The combination is already approved in the U.S. A final decision from the European Commission is anticipated in Q3 this year.
At the time of this announcement, MRK was trading at $118.74 on NYSE in the Life Sciences sector, with a market capitalization of approximately $286.2B. The 52-week trading range was $75.40 to $125.14. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.