Merck's stock jumps 3.3% to pace the 28 of 30 Dow components trading higher
Merck's stock jumps 3.3% to pace the 28 of 30 Dow components trading higher
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Merck's stock jumps 3.3% to pace the 28 of 30 Dow components trading higher
Merck's stock climbs 2.3% to pace Dow's premarket gainers after positive trial news
Shares of Merck & Co. Inc. surged 2.6% in premarket trade Monday, after the drug maker said its cancer treatment Keytruda met the primary endpoint of a phase 3 trial evaluating the Keytruda as monotherapy for the first-line treatment of metastatic non-small cell lung cancer. The primary endpoint was overall survival. An independent data monitoring committee (DMC) determined that treatment with Keytruda resulted in significantly longer overall survival than platinum-based chemotherapy in tested patients. Based on the DMC's finding, the trial will continue to evaluation progression-free survival, which is the secondary endpoint. Merck's stock has lost 5.2% year to date through Monday, while the SPDR Health Care Select Sector ETF has shed 3.4% and the Dow Jones Industrial Average has slipped 3.2%.
Merck's stock up 1.5% premarket after Keytruda trial meets primary endpoint
NewLink Genetics Corp. plans to review its clinical programs after the failure of a similar drug in a Merck and Incyte clinical trial. NewLink noted that the mechanism of its drug, an IDO pathway inhibitor called indoximod, was different from other such products but said that it will nonetheless conduct a clinical program review because of the Incyte news. NewLink shares plummeted nearly 45% in Friday trade after Merck and Incyte said a trial testing their two drugs in combination did not meet its primary endpoint and that they are stopping the trial. NewLink shares have dropped nearly 55% over the last three months to $4.09, compared with a 5.4% drop in the S&P 500 .
NewLink says its IDO inhibitors are different but will still conduct clinical program review
NewLink Genetics plans to review clinical programs after Merck, Incyte trial failure
NewLink Genetics Corp. shares plummeted 39.2% in premarket trade Friday after Merck and Incyte Corp. said their trial testing a combination including a type of cancer drug called an IDO inhibitor had failed. NewLink has focused its research and development on IDO as a target for its cancer drugs, and its two lead therapies -- indoximod and NLG802 -- target the IDO pathway. The phase 3 trial tested Incyte's epacadostat, which is an IDO inhibitor, in combination with Merck's Keytruda, and was seen as an important trial for the entire IDO class of drugs. However, the combination did not improve progression-free survival for patients as compared with Keytruda alone, Merck and Incyte said on Friday, and the companies are stopping the trial. Drug companies have made big investments in these types of combination treatments, betting that pairing them will boost effectiveness, though Friday's trial results may undermine the theory. Bristol-Myers Squibb, another company that has invested in the IDO space, had shares decline 0.6% premarket. NewLink shares have dropped 18.7% over the last three months, compared with a 2.9% drop in the S&P 500 .
Shares of Incyte Corp. plunged 19% in premarket trade Friday, and Merck & Co. Inc.'s stock dropped 1.9%, after the companies said an external data monitoring committee (eDMC) determined that results from a phase 3 study evaluating Incyte's epacadostat with Merck's Keytruda in patients with metastatic melanoma did not meet the primary endpoint of improving progression-free survival. Incyte's stock had been halted until 8 a.m. ET for news. The companies said the second primary endpoint of overall survival was also not expected to reach statistical significance. The companies said they decided to stop the study based on the eDMC's recommendation. "While we are disappointed that this study did not confirm the efficacy of epacadostat in combination with KEYTRUDA in patients with unresectable or metastatic melanoma, data from ECHO-301/KEYNOTE-252, including analyses of an extensive biomarker panel, will contribute to our understanding of the role of IDO1 inhibition in combination with PD-1 antagonists, and may inform our broader epacadostat clinical development program," said Incyte's Chief Medical Officer Steven Stein. Incyte's stock had shed 16.8% over the past three months through Thursday, while Merck shares had lost 4.3% and the Dow Jones Industrial Average had slipped 3.1%.
Incyte shares fall 19% after resuming trade following a halt
All 29 of the Dow Jones Industrial Average components trading in the premarket are declining, as growing worries of a trade war with China has sent Dow futures tumbling. Only DowDuPont Inc.'s stock is still inactive ahead of the open. Among the biggest decliners, shares of Boeing Co. dropped 2.2%, Merck & Co. shed 2.1% and Caterpillar Inc. dropped 1.4%. The most-active stock is Apple Inc.'s , which fell 1.4%. Dow futures shed 269 points.
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Update includes extra information, analyst sales forecast and updated share price AstraZeneca PLC (AZN.LN) said Tuesday that regulators in Europe and the U.S. have accepted applications for cancer treatments Lynparza and Moxetumomab Pasudotox. In the U.S., the Food and Drug Administration has accepted the biologics license application for Moxetumomab Pasudotox, the company said, adding that the treatment--which is used to treat adult patients with hairy-cell leukemia--has been granted priority-review status.
The Dow Jones Industrial Average on Thursday was on track to snap a quarterly win streak, and the biggest contributor the end of that successful run has been 3M Co. Shares of 3M Co. have fallen 6.4%, sapping 129 points from the price-weighted index over the course of the first three months of 2018, according to WSJ Market Data Group. Boeing Co.' shares [: BA], meanwhile, the Dow's most influential component among its 30, by dint of its share price, was the biggest contributor to 121-year-old average in the first quarter, adding more than 170 points. That said, it was the biggest drag in the Dow's monthly performance, exacting a 290-point toll on the Dow, while shares of Merck & Co. provided the best lift for the month, 5 points. The Dow is set to decline 2% for the first three months of 2018, the S&P 500 index is set to fall 1% over the same stretch. Both benchmarks are on track to snap a streak of nine straight quarterly gains. For the month, the Dow is looking at a 3.3% drop in March, while the S&P 500 index is set to to fall 2.4%.
Here are some of the companies with shares expected to trade actively in Monday's session.
The drug industry has poured billions of dollars into novel drugs that fight cancer, generating significant value for biotech investors. It is a problem, then, when potential blockbuster drugs miss the mark.
Incyte said its experimental cancer drug failed in a clinical trial that paired it with Merck’s Keytruda, striking a blow to combination therapies.
Companies with shares expected to trade actively in Friday's session include Incyte, JPMorgan, Boeing and WageWorks.
The Trump administration has issued a policy change that could drive up prices of certain biologic drugs, implementing a new industry-backed measure that overturns existing regulation that promoted lower prices.
More prisoners with hepatitis C are becoming eligible for treatment with effective but costly drugs like Harvoni and Sovaldi from Gilead Sciences Inc., as a result of lawsuits filed by inmates in Massachusetts and Florida.
Johnson & Johnson says its net drug prices overall fell last year due to discounts and rebates. Revenue still rose 6.7%
Japan has approved a drug that its maker says can kill the flu virus in 24 hours, paving the way for what health experts believe could be a breakthrough in the way the illness is treated.
Pension manager Aimco bought 1.5 million more GE shares in Q4. It also sold most of its Pfizer stake.
The White House blamed Russia for a massive cyberattack last year that crippled computer networks at multinational firms worldwide, vowing the hack would be met with “international consequences.”
British officials blamed Russia for last June’s massive “Petya” cyberattack, which crippled computer networks at multinational firms including FedEx, container-ship giant A.P. Moeller-Maersk and pharmaceutical firm Merck & Co.
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As Americans suffer through the worst influenza outbreak in almost a decade, a Japanese drugmaker says it has developed a pill that can kill the virus within a day. But even if the experimental drug lives up to the claim, it likely won’t be available in the U.S. until next year at the earliest.
D.A. Davidson chopped its Chipotle stake by more than 40%. It cut the Qualcomm investment by a third.
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Among the companies with shares expected to trade actively in Friday's session are Apple, Amazon.com, Alphabet, Visa, Sprint, Mattel, Merck and Viacom.
Spinoffs and asset sales may benefit shareholders more than chasing growth in a frenzied health-care deals market.
Among the companies with shares expected to trade actively in Wednesday's session are Goldman Sachs, Bank of America, Juno Therapeutics, Ford Motor, Alphabet and Boeing.
Among the companies with shares expected to trade actively in Monday's session are Citigroup Inc., General Electric Co., UnitedHealth Group Inc., Apple Inc., Alphabet Inc. and Amazon.com Inc.
Shares of Merck had a boost early Monday after the firm announced that its Phase 3 trial of Keytruda for the treatment of metastatic non-small cell lung cancer met its primary endpoint.
Incyte's (INCY) epacadostat in combination with Merck's Keytruda fails to meet primary endpoint of PFS in a phase III melanoma study.
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Incyte saw its shares make a sharp left turn on Friday after the firm gave an update on its late-stage collaboration with Merck. NewLink Genetics felt the sting as well.
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Merck & Co., Inc. engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. It operates through the following segments: Pharmaceutical, Animal Health, Alliances and Healthcare Services. The Pharmaceutical segment includes human health pharmaceutical and vaccine products marketed either directly by the company or through joint ventures. Its human health pharmaceutical products consist of therapeutic and preventive agents, generally sold by prescription, for the treatment of human disorders. The Animal Health segment discovers, develops, manufactures and markets animal health products, including vaccines, which it sells to veterinarians, distributors and animal producers. The Alliances segment includes revenue from the company relationship with AstraZeneca LP. The Healthcare Services segment provides services and solutions that focus on engagement, health analytics and clinical services to improve the value of care delivered to patients. The company was founded in 1970 and is headquartered in Kenilworth, NJ. (See Full Profile)
Name | Chg % | Market Cap |
---|---|---|
Amgen Inc. | $121.28B | |
GlaxoSmithKline PLC ADR | $99.36B | |
Novartis AG ADR | $211.54B | |
Bristol-Myers Squibb Co. | $99.54B | |
Johnson & Johnson | $343.65B |