Core Viewpoint - The announcement of a 100% tariff on patented and branded drugs by the Trump administration starting October 1, 2025, aims to pressure pharmaceutical companies to relocate production to the U.S. [1] Market Reaction - Global pharmaceutical stocks, including Pfizer and Merck, experienced declines of over 2% in the U.S. market, while related stocks in A-shares and Hong Kong also fell significantly, impacting companies like Kanglong Chemical and Kylin Pharmaceutical [3] Policy Background - The tariff policy is not sudden; it has been hinted at since April, with escalating threats of high tariffs on imported drugs. Economists warn that such high tariffs could disrupt supply chains and potentially increase drug prices for U.S. consumers [4] Impact on Chinese Pharmaceutical Companies - Chinese innovative pharmaceutical companies face both challenges and opportunities. Short-term market volatility is expected, but the established global competitiveness of Chinese firms may allow them to adapt by accelerating overseas production to avoid tariffs [5] Industry Outlook - The fundamental drivers of innovative drug development remain unchanged despite national policies. China's pharmaceutical industry is transitioning from a "big pharmaceutical country" to an "innovative pharmaceutical powerhouse," with significant advancements in cutting-edge fields like stem cell and gene therapy [6]

第一财经记者从默克集团获悉，自2026年5月1日起，默克集团现任电子业务CEO毕康明（Kai Beckman）将接任葛丽鹤（Belén Garijo）担任集团执行董事会主席兼首席执行官。葛丽鹤将按计划在 2026年4月底完成任期，以确保管理层平稳过渡。她已在默克任职15年，其中6年担任医疗健康业务 CEO。 自明年5月1日起，默克集团现任电子业务CEO毕康明将担任集团执行董事会主席兼首席执行官。 ...

Core Insights - Evaxion has achieved a significant milestone by having MSD (Merck) exercise its option to license the EVX-B3 vaccine candidate, marking the first instance of a pharmaceutical company in-licensing a vaccine candidate discovered using AI [3] Company Updates - The licensing of EVX-B3 is a notable achievement for Evaxion and highlights the potential of AI-driven drug development in the pharmaceutical industry [3] - MSD also holds an option on another vaccine candidate, EVX-B2, with an extended evaluation period and a decision on potential in-licensing expected in the first half of 2026 [4]

At Friedrich Global Research we are searching for what we believe will be the safest and best performing companies in which to buy stocks. We focus on free cash flow, efficient capital allocation, and consistently superior results to identify the highest quality management teams.Founder of Bern Factor LLC, an independent research and publishing firm located in Virginia. I have nearly 40 years of investing and analysis experience. I am a former CPA (1990 -2017) and became a CFA charter holder in 2000. I cons ...

Company Overview - Merck & Co. is based in Kenilworth, NJ, and has over six blockbuster products, with Keytruda, a PD-L1 inhibitor, accounting for approximately 50% of its pharmaceutical sales [12] - Keytruda has significantly contributed to Merck's steady revenue growth in recent years, although there are concerns about the company's heavy reliance on this drug and the need for product diversification [12] Zacks Rank and Style Scores - Merck is currently rated 3 (Hold) on the Zacks Rank, with a VGM Score of B, indicating a solid position but not a strong buy [13] - The company has a Value Style Score of A, supported by attractive valuation metrics such as a forward P/E ratio of 8.92, which may appeal to value investors [13] - In the last 60 days, seven analysts have revised their earnings estimates higher for fiscal 2025, with the Zacks Consensus Estimate increasing by $0.06 to $8.93 per share [13] - Merck has an average earnings surprise of +3.9%, suggesting a positive trend in earnings performance [13] Investment Considerations - With a solid Zacks Rank and top-tier Value and VGM Style Scores, Merck is recommended for investors' consideration [14]

Core Viewpoint - Verona Pharma plc has received shareholder approval for its acquisition by Merck & Co., Inc. at a valuation of approximately $10 billion, with the transaction expected to close on October 7, 2025 [1][2]. Group 1: Transaction Details - The acquisition will be executed through a scheme of arrangement under English law, pending court sanction [2]. - The court hearing for the sanction of the scheme is scheduled for October 6, 2025, with the effective date of the scheme expected to be October 7, 2025 [3]. Group 2: Voting Results - At the Court Meeting, 99.49% of the voting Scheme Shareholders approved the resolution for the scheme [5]. - At the General Meeting, 99.51% of votes supported the special resolution to amend the Articles of Association, and 81.19% voted in favor of the advisory proposal regarding executive compensation related to the transaction [6]. Group 3: Expected Timetable of Principal Events - Key dates include the Court Sanction Hearing on October 6, 2025, and the last day for dealings in American Depository Shares (ADSs) on the same date [8]. - The formal suspension of dealings in ADSs on Nasdaq is set for October 7, 2025, coinciding with the effective date of the scheme [8].

Welcome back. Mark getting FDA approval for an injectable version of its blockbuster cancer therapy. Kitruda Angelica Peoples here with the story fresh off an interview with the CEO.Angelica. Hey Leslie. Well, MK thinks that this shot will be an attractive option for patients since it could be administered in about a minute in a doctor's office versus 30 minutes at a hospital or an infusion center.And the shot's also a way for Merc to manage the IV form of Kruda going off patent in 2028. And Merc hasn't spe ...

Core Viewpoint - The approval of an injectable version of Kitruda is expected to enhance patient convenience and maintain market share as the IV form approaches patent expiration in 2028 [1][2][3] Company Strategy - The injectable Kitruda can be administered in about one minute in a doctor's office, compared to 30 minutes for the IV version, making it a more attractive option for patients [1] - The company plans to manage the transition as Kitruda's IV form goes off patent in 2028, with expectations of lowering prices as competition increases [2][3] - Kitruda generated nearly $30 billion in sales last year, accounting for about half of the company's overall revenue, but the company aims to diversify its portfolio across various therapeutic areas including oncology, cardiometabolic, ophthalmology, and HIV [3][4] Market Dynamics - The company anticipates that 30-40% of current Kitruda users will switch to the injectable version, which is seen as a more convenient option rather than a significant price reduction strategy [8][10] - The company is preparing for competition from less expensive options entering the market, raising questions about the balance between convenience and cost for insurance companies [10] Vaccine Concerns - The company is a major player in the vaccine market and is concerned about vaccine hesitancy, which could lead to a resurgence of diseases previously thought to be under control [5][6] - Recent CDC recommendations regarding vaccines have raised concerns about the lack of new scientific support for changes, potentially impacting public trust in vaccination [5][12] - The company emphasizes the safety and effectiveness of its vaccines and is focused on combating misinformation that may deter people from getting vaccinated [6][12]

The FDA has approved the injectable version of Merc's cancer therapy, Kruda. That drug accounts for nearly half of Merc's revenue. And joining us right now on set is Robert Davis.He is the chairman and CEO of Merc. Also our very own Angelica Peebles. And welcome.It's good to see both of you. Uh Robert, let's talk about this first of all, the injectable version. Why is this better. Why will patients want this.>> Yeah. Well, well, first, you know, we're we're very excited about this because I do think this is ...

The FDA has approved the injectable version of Merc's cancer therapy, Kruda. That drug accounts for nearly half of Merc's revenue. And joining us right now on set is Robert Davis.He is the chairman and CEO of Merc. Also our very own Angelica Peebles. And welcome.It's good to see both of you. Uh Robert, let's talk about this first of all, the injectable version. Why is this better. Why will patients want this.>> Yeah. Well, well, first, you know, we're we're very excited about this because I do think this is ...