FDA Approves Merck's Blockbuster Cancer Drug For Type Of Gastric Cancer
Portfolio Pulse from Vandana Singh
The FDA has approved Merck & Co Inc's (NYSE:MRK) Keytruda for first-line treatment of a type of gastric cancer, marking its seventh gastrointestinal cancer indication and 38th overall in the U.S. The approval is based on the Phase 3 KEYNOTE-859 trial, showing Keytruda plus chemotherapy reduced death risk by 22% compared to chemotherapy alone. Merck's shares rose 0.72% in premarket trading.
November 17, 2023 | 1:42 pm
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POSITIVE IMPACT
Merck's Keytruda receives FDA approval for a new gastric cancer treatment, potentially boosting its market share in oncology drugs. Shares increased in premarket trading.
FDA approvals typically lead to increased sales potential and market confidence, which can positively impact a company's stock price. The premarket share price increase indicates a positive market reaction to the news.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100