BUZZ-Street View: Merck signals renewed confidence in growth after Keytruda patent loss

Reuters01-13
BUZZ-Street View: Merck signals renewed confidence in growth after Keytruda patent loss

** Merck on Monday raised its outlook for new growth drivers, forecasting $70 billion in revenue from these fresh businesses by mid-2030s as it navigates looming competition to its blockbuster cancer therapy Keytruda

NEW YEAR AND A NEW MERCK

** Bernstein ("market perform," PT: $95) says Keytruda patent loss remains "the industry's largest challenge", potentially affecting about 50% of revenue

** Says Merck showcased clearer navigation plan and stronger visibility into its pipeline and that it is open to deals potentially in "multi‑tens of billions" category

** BMO Capital Markets ("outperform," PT: $130) says Merck's commentary at J.P. Morgan Healthcare Conference around managing Ketruda LOE "projects new confidence we have not heard recently"

** Adds that raised outlook is "broadly supportive of the opportunity we see with recent deals"

** Citi ("neutral"," PT: $110) says Merck is "making solid progress towards offsetting the patent impact but is not yet in the clear"

(Reporting by Mariam Sunny in Bengaluru)

((Mariam.ESunny@thomsonreuters.com))

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