Merck & Co., Inc. (MRK) Stock Surges on Lung Cancer Drug Success

Advertisement

Merck & Co., Inc. (NYSE:MRK) shares were soaring on Tuesday following the company’s release of its latest lung cancer treatment results.

Merck & Co., Inc. (MRK)The company rolled out a combination of immunotherapy Keytruda and two chemotherapy medications, which helped lung cancer patients live longer and stopped the illness from advancing, according to early results from a study.

The results will be unveiled at an upcoming medical meeting, although the date and location of the meeting are unknown. The announcement helped appease investor concerns as the European application of the drug was withdrawn by Merck and there were delays with the testing of it.

The company had conducted an earlier trial with the initial treatment of the drugs, which also improved survival, but the sample size wasn’t large enough to definitively know how effective Keytruda and the chemotherapy treatments were.

The move marked advancement for Merck as the company is in a good position to become among the best biopharmaceutical companies in developing drugs that can be used as the initial treatment for patients with a common type of lung cancer.

These results are encouraging outside of the U.S. as they increase the chances of being approved by European regulators. Merck has already garnered regulatory approval in the U.S. thanks to its latest results.

Keytruda brought in more than $1 billion in sales during the company’s third quarter of the most recent fiscal year.


Article printed from InvestorPlace Media, https://investorplace.com/2018/01/merck-co-inc-mrk/.

©2024 InvestorPlace Media, LLC