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"
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