DIRS.INFO The most relevant business & tech news

☆ Merck results beat expectations on strong Keytruda sales, surprise Covid drug growth
▼ + stars: | 2023-10-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Merck on Thursday reported third-quarter revenue and adjusted earnings that topped expectations on strong sales of its blockbuster cancer drug Keytruda, HPV vaccine Gardasil and surprisingly, its Covid drug Lagevrio. Merck lowered its adjusted profit guidance to $1.33 to $1.38 per share, from a previous forecast of $2.95 to $3.05 a share. But that updated outlook reflects an upfront charge of $5.5 billion, or $1.70 per share, related to the company's recent drug collaboration agreement with Daiichi Sankyo. Excluding Lagevrio, pharmaceutical sales grew 9%. The Covid antiviral treatment brought in $640 million in sales for the quarter, up 47% from the third quarter of 2022.

Persons: Merck Organizations: Merck, Prometheus Biosciences, Imago BioSciences, Kelun, Biotech, LSEG, U.S Locations: Japan, Australia

July 3 (Reuters) - AstraZeneca (AZN.L) said on Monday an experimental precision drug slowed progression of lung cancer in a late-stage trial, but the company's shares fell as much as 6% as analysts said the benefits may not be as pronounced as hoped. It declined to provide more trial details, saying they would be presented at an as yet undisclosed medical conference. At 0855 GMT, shares in AstraZeneca were down 5.8% at their lowest level in more than three months. Gilead (GILD.O) has pioneered the targeting of TROP2 with an ADC named Trodelvy, approved to treat certain types of breast and bladder cancer. AstraZeneca said that the datopotamab deruxtecan trial would continue as planned to assess the effect of the drug on overall survival of patients, another important efficacy criterion.

Persons: datopotamab, AstraZeneca, British drugmaker, Kelun, Maggie Fick, Ludwig Burger, Sinchita Mitra, Lucy Raitano, Krishna Chandra Eluri, Susan Fenton Organizations: AstraZeneca, Japan's, Merck & Co, Biotech of, Barclays, Thomson Locations: British, Biotech of China, London, Frankfurt, Bengaluru

☆ ASCO conference will put the focus on the fight against cancer. These stocks are in the spotlight
▼ + stars: | 2023-05-28 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Developments in cancer research will be in the spotlight as the American Society of Clinical Oncology hosts the world's biggest cancer research conference in Chicago, starting Thursday. The pair has already has won regulatory approval for Enhertu for metastatic HER2-low breast cancer, but the companies are also studying its use in a variety other HER2 tumors in breast cancers. Lilly's drug, Verzenio, is used in high-risk patients with HR-positive HER2-negative breast cancer that is more likely to reoccur and has already breached the patient's lymph nodes. In a research note earlier this month, Guggenheim analyst Seamus Fernandez said Kisqali is already taking market share from Pfizer's Ibrance in metastatic breast cancer. Merck's Keytruda is also being watched for what benefits it could offer early-stage lung cancer patients .

Citi is bullish on Merck , saying that the company's drug pipeline is underappreciated by the market. The exclusive license and collaboration agreement for ADC development helps Merck in developing more cancer treatment drugs — and Citi thinks it could rival its competitors' offerings. Citi anticipates further upside for Merck shares from the Inflation Reduction Act. To be sure, Baum noted a key downside risk to his valuation is if the ADC pipeline disappoints. Further risks include lower-than-anticipated value share capture by the company's Melanoma treatment drug Keytruda, and a slowdown in its animal health business.

Search resuls for: "Kelun"

4 mentions found