What's Going On With Merck Stock On Monday?
Portfolio Pulse from Vandana Singh
Merck & Co Inc (NYSE:MRK) announced the exercise of an option to convert its co-development and co-commercialization agreement with Orion for opevesostat into an exclusive global license. Merck will now have global exclusive rights to develop and commercialize the drug and will assume all associated expenses. Orion will receive milestone payments and royalties. MRK shares are up 3.44% following the announcement.
July 01, 2024 | 5:26 pm
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Merck has exercised an option to convert its co-development agreement with Orion for opevesostat into an exclusive global license, assuming all development and commercialization expenses. This move grants Merck global exclusive rights to the drug.
The exclusive global license allows Merck to fully control the development and commercialization of opevesostat, a promising drug for hormone-dependent cancers. This strategic move is likely to boost investor confidence, as reflected in the 3.44% rise in MRK shares.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100