Core Viewpoint - Merck has ceased discussions regarding the acquisition of Revolution Medicines, a company focused on developing cancer drugs, as reported by the Wall Street Journal [1] Company Summary - Merck is a major player in the pharmaceutical industry, known for its extensive portfolio in drug development, including oncology [1] - Revolution Medicines specializes in innovative cancer therapies, indicating a strategic interest in the oncology sector [1] Industry Summary - The oncology drug market continues to attract significant attention from large pharmaceutical companies, highlighting the competitive landscape in cancer treatment development [1] - The cessation of acquisition talks may reflect broader market dynamics or strategic realignments within Merck and its investment priorities in the oncology space [1]

Group 1 - The drugmaker is in discussions to acquire RevMed, a cancer-drug biotech [1] - The potential deal could value RevMed at approximately $30 billion [1]

Group 1: Ebola Vaccine Initiative - Merck & Co., Inc. and CEPI are launching a $30 million program to create an updated version of Merck's Ebola vaccine to make it cheaper and easier to distribute in low- and middle-income countries [2] - The partnership will focus on improving the manufacturing process of Merck's WHO-prequalified Ebola vaccine, Ervebo, which is currently complex and expensive to produce at scale [3] - Planned upgrades are expected to increase yield, extend shelf life, and allow Ervebo to be stored in standard refrigerators for several months, enhancing distribution capabilities [4] Group 2: Revenue Growth Outlook - Merck has raised its revenue forecast for new growth drivers to $70 billion by the mid-2030s, driven by the launch of additional drugs [6] - The company now expects cardiometabolic and respiratory treatments to generate about $20 billion in sales, an increase from the previous forecast of $15 billion [7] - Infectious disease drugs are projected to contribute roughly $15 billion, significantly up from an earlier estimate of $5 billion [7] Group 3: Company Overview - Merck & Co., Inc. is a global healthcare giant focused on discovering, developing, manufacturing, and marketing prescription medicines, vaccines, biologic therapies, and animal health products [8]

Core Insights - The WomenHeart Summit aims to elevate women's voices in heart care, advance research, and ensure every woman receives the heart care she deserves [1][5] - The Summit will feature the Heart Health IS Women's Health Forum and the Wenger Awards on February 2, 2026, focusing on gender-specific risks and actionable solutions in women's cardiovascular care [1][4] Event Details - The Heart Health IS Women's Health Forum will gather clinicians, researchers, advocates, policymakers, and women with heart disease experiences to discuss emerging science and policy priorities [1][4] - Dr. ShantaQuilette Carter-Williams will serve as the keynote speaker and emcee for the Wenger Awards, bringing her personal story as a heart attack and stroke survivor to inspire attendees [2] Advocacy Efforts - On February 3, 2026, WomenHeart Champions will participate in Advocacy Day on Capitol Hill, advocating for increased federal research funding and improved access to heart health resources for women [3] - Key advocacy priorities include expanding clinical trial participation and enhancing preventive heart health screening programs like WISEWOMAN [3] Sponsorship and Support - The Summit is supported by various sponsors, including Merck & Co. as the Diamond Sponsor and Medtronic, Amgen, and Novartis as Platinum Sponsors, all committed to advancing women's cardiovascular health [5] - WomenHeart is recognized as the first national patient-centered organization dedicated to improving the lives of women at risk for heart disease through support and advocacy [6]

根据ChemLex发布的声明，此次合作旨在提升默克各业务部门在早期发现与开发工作流程中的速度、效 率与结果可重复性。合作探索领域将涵盖自动化合成、反应优化、高通量实验及化学平台集成等前沿方 向。 ChemLex是一家专注于开发AI驱动自动化化学合成平台的技术公司。其创始人兼首席执行官Sean Lin表 示，公司专有的化学合成平台能够借助AI闭环反馈机制实现全天候运行，正重新定义化学合成的效率 边界。他进一步指出，与默克中国的深入合作为验证和优化其技术在更广泛场景中的应用提供了宝贵机 会。 中化新网讯 1月20日，德国默克集团与新加坡科技初创企业ChemLex签署合作谅解备忘录，双方将共同 探索利用人工智能与自动化技术提升化学研发效率的新路径。这一合作标志着传统化工巨头与新兴AI 技术公司在赋能研发数字化转型方面的战略协同进入实质性探索阶段。 双方初步合作将聚焦于识别具有高影响力的化学研发项目，并规划未来潜在的合作路径。目前，两家公 司将继续在备忘录框架下展开讨论，以评估后续具体步骤。 ...

Core Insights - Merck (MRK) and AbbVie (ABBV) are prominent pharmaceutical companies with strong positions in oncology and immunology, with AbbVie also expanding into aesthetics, neuroscience, and eye care, while Merck has a more diversified portfolio including vaccines and animal health [1] Group 1: Revenue and Growth Drivers - Oncology represents over 60% of Merck's total revenues, with Keytruda accounting for approximately half of its pharmaceutical sales [2] - AbbVie's immunology segment is the largest revenue contributor, with drugs like Humira, Skyrizi, and Rinvoq generating about half of total sales [2] - AbbVie has successfully managed the loss of exclusivity for Humira by launching new immunology drugs, Skyrizi and Rinvoq, which are projected to exceed combined sales of $25 billion in 2025 and $31 billion by 2027 [4][5] Group 2: Financial Performance - AbbVie's oncology segment generated $5.0 billion in revenue in the first nine months of 2025, a 2.7% increase year-over-year, while neuroscience drug sales rose 20.3% to nearly $7.8 billion [6] - Merck's Keytruda achieved sales of $23.3 billion in the first nine months of 2025, reflecting an 8% year-over-year growth [10] - AbbVie's stock has increased by 26.6% over the past year, while Merck's stock has risen by 15% [22] Group 3: Pipeline and M&A Activity - AbbVie has engaged in over 30 M&A transactions since early 2024 to enhance its early-stage pipeline, particularly in immunology [7] - Merck's phase III pipeline has nearly tripled since 2021, with plans to launch around 20 new vaccines and drugs, including a new pneumococcal vaccine and a pulmonary arterial hypertension drug [12] - Merck has been active in acquisitions, including the $9.2 billion purchase of Cidara Therapeutics and around $10 billion for Verona Pharma, to bolster its pipeline [13][14] Group 4: Challenges and Competitive Landscape - AbbVie faces near-term challenges such as biosimilar erosion of Humira and competitive pressures on Imbruvica, with aesthetics sales declining by 7.4% in the first nine months of 2025 [8] - Merck is heavily reliant on Keytruda, with concerns about its ability to grow non-oncology business ahead of Keytruda's patent expiration in 2028 [16] - Both companies are facing competitive pressures, with Merck's Gardasil sales declining due to weak performance in China and other vaccines also experiencing sales drops [15] Group 5: Valuation and Estimates - The Zacks Consensus Estimate for AbbVie's 2026 sales and EPS indicates a year-over-year increase of 10.2% and 38.4%, respectively, while Merck's estimates imply a 3.7% sales increase but a 15.9% decrease in EPS [17] - AbbVie trades at a higher price/earnings ratio of 14.84 compared to Merck's 13.81, although both are below the industry average of 17.75 [22] - AbbVie's dividend yield is 3.06%, slightly lower than Merck's 3.2% [26]

Core Insights - Moderna's shares increased by 15.8% following the announcement of positive five-year follow-up data from a phase IIb study on its personalized cancer therapy for high-risk melanoma patients [1][6] Group 1: Study Overview - The KEYNOTE-942/mRNA-4157-P201 study assessed Moderna's mRNA-based individualized neoantigen therapy (intismeran autogene) in combination with Merck's PD-L1 inhibitor, Keytruda, for treating high-risk melanoma patients post-surgery [2][7] - The study showed that the combination therapy significantly improved recurrence-free survival, reducing the risk of recurrence or death by 49% compared to Keytruda alone [3][4] Group 2: Long-term Efficacy and Safety - The follow-up analysis indicated sustained and clinically meaningful improvements in recurrence-free survival, marking a significant milestone for the therapy [3][4] - The safety profile of intismeran autogene combined with Keytruda remained consistent with previous studies [5] Group 3: Future Developments - Moderna and Merck plan to present additional follow-up data at upcoming medical meetings [4][7] - Beyond melanoma, the therapy is being evaluated in pivotal phase III studies for non-small cell lung cancer and other cancer types, with a commercial launch targeted for next year [9] Group 4: Pipeline Expansion - Moderna is focusing on expanding its oncology pipeline, including the development of mRNA-4359, an investigational therapy for melanoma and metastatic non-small cell lung cancer, with data expected in 2026 [10]

Core Viewpoint - Raludotatug Deruxtecan (R-DXd, DS-6000a) has received Breakthrough Therapy Designation (BTD) from the China National Medical Products Administration (NMPA) for the treatment of adult patients with platinum-resistant epithelial ovarian cancer, primary peritoneal cancer, or fallopian tube cancer who have previously been treated with Bevacizumab and express CDH6 [1] Group 1 - Raludotatug Deruxtecan is developed by Daiichi Sankyo and co-developed with Merck [1] - The drug is a CDH6-targeted antibody-drug conjugate (ADC) [1]

本文源自：金融界AI电报 摩根大通：将默沙东(MRK.N)目标价从120美元上调至125美元。 ...

Core Viewpoint - Merck and the Coalition for Epidemic Preparedness Innovations have announced a partnership to develop an updated version of Merck's Ebola vaccine, with a funding commitment of $30 million aimed at improving public health responses to the Ebola virus [1] Group 1 - The partnership focuses on enhancing the existing Ebola vaccine to better address the needs of populations at risk [1] - The $30 million program is intended to support research and development efforts in vaccine technology [1] - This collaboration highlights the importance of public-private partnerships in addressing global health challenges [1]