Merck & Co.'s immunotherapy drug, Keytruda, has successfully met both primary endpoints in the KEYNOTE-671 study for non-small cell lung cancer (NSCLC). This development has spurred an upcoming review by the U.S. Food and Drug Administration (FDA) for expanded use, with a decision due on Monday, October 16, 2023.
Keytruda's sales reached $12.06 billion in the first half of 2023, even with a 6.6% decline in the company's stock. According to InvestingPro data, Merck's market cap stands at $262910.0M USD with a P/E ratio of 83.93. The drug, which is currently approved for seven earlier-stage cancer indications and under trial for over 30 types of cancer, is projected to constitute around 25% of total global sales by 2025. The drug's performance and potential have led industry analysts to anticipate that Keytruda will significantly contribute to growth from early-stage treatment settings.
In other sector news, Alpine Immune Sciences (NASDAQ:ALPN) is showing promise with its 2023 loss estimate narrowed down to $1.18 per share. Aurinia Pharmaceuticals (NASDAQ:AUPH) has also been performing well, with an average earnings surprise of 45.61%.
Merck currently holds a #3 rank (Hold) at Zacks Investment Research. InvestingPro Tips reveal that Merck has raised its dividend for 12 consecutive years and is a prominent player in the Pharmaceuticals industry. Merck's stock generally trades with low price volatility and operates with a moderate level of debt. These factors, along with the company's successful trials and positive sales projections for Keytruda, position it as a notable player in the pharmaceutical industry. For a comprehensive set of investing tips and real-time metrics, consider subscribing to InvestingPro.
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