Merck & Co., Inc. - MRK STOCK NEWS

Merck (NYSE: MRK) announced that Frank Clyburn, Executive Vice President and Chief Commercial Officer, will participate in the Cowen 41st Annual Health Care Conference on March 3, 2021, at 1:20 p.m. EST. A live video webcast of the presentation will be available to investors, analysts, media, and the public. For over 130 years, Merck has been committed to advancing healthcare through innovative medicines and vaccines. The company focuses on addressing various diseases and improving population health through partnerships and policies.

AstraZeneca and Merck (MRK) announced that their Phase 3 OlympiA trial for LYNPARZA will proceed to early primary analysis following an Independent Data Monitoring Committee (IDMC) recommendation. The trial crossed the superiority boundary for the invasive disease-free survival (iDFS) endpoint versus placebo in patients with germline BRCA-mutated, HER2-negative breast cancer. Approximately 2.3 million women were diagnosed with breast cancer in 2020, with 5% having BRCA mutations. The trial aims to assess further secondary endpoints of overall survival and distant disease-free survival.

Merck (MRK) and Eisai presented new data from the Phase 3 CLEAR study for advanced renal cell carcinoma (RCC) at the 2021 ASCO GU. KEYTRUDA plus LENVIMA showed significant improvements in progression-free survival (PFS) and overall survival (OS) compared to sunitinib, with PFS of 23.9 months and a 34% reduction in death risk. The objective response rate (ORR) reached 71%. LENVIMA plus everolimus also improved PFS but did not enhance OS compared to sunitinib. These results may shape future RCC treatment options.

Merck (NYSE: MRK) reported its financial results for Q4 and the full year 2020, achieving 5% growth in quarterly sales to $12.5 billion, and a 2% increase in annual sales to $48 billion. However, the company faced substantial challenges, including a $2.7 billion impairment charge related to an acquisition and a $1.6 billion intangible asset impairment for ZERBAXA. Non-GAAP EPS increased 14% in Q4 to $1.32, while GAAP EPS dropped to $(0.83). The impact of COVID-19 reduced revenue by approximately $2.5 billion for the year, primarily in human health.

Merck (NYSE: MRK) announced Kenneth C. Frazier will retire as CEO on June 30, 2021, transitioning to executive chairman. Robert M. Davis, currently CFO, will become CEO effective July 1, 2021, and president on April 1, 2021. The board expresses confidence in Davis’s ability to foster innovation and drive future growth. Frazier, who has led the company for over a decade, commended Davis's strategic leadership. Davis aims to maintain Merck's commitment to scientific innovation, particularly in developing essential medicines and vaccines amid the ongoing pandemic.

Merck (NYSE: MRK) has appointed Dr. Stephen L. Mayo to its Board of Directors, effective March 15, 2021. Dr. Mayo, a professor at Caltech and a member of the National Academy of Sciences, will stand for election at the Annual Meeting of Shareholders on May 25, 2021. His expertise in protein design is expected to enhance the board's scientific acumen, bringing valuable insights to the company's strategies. With Dr. Mayo's addition, the Merck board will consist of 14 members, bolstering its governance and decision-making capabilities.

Merck (NYSE: MRK) announced a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) recommending approval for an expanded label of KEYTRUDA. This anti-PD-1 therapy is suggested as monotherapy for adult and pediatric patients over 3 years with relapsed or refractory classical Hodgkin lymphoma who have failed previous treatments, including autologous stem cell transplant. The recommendation is based on the KEYNOTE-204 trial, showing a 35% reduction in disease progression risk. A final decision from the European Commission is expected in Q1 2021.

Merck reported data from the Phase 3 KEYNOTE-598 study, evaluating the combination of KEYTRUDA and ipilimumab in patients with metastatic non-small cell lung cancer (NSCLC). Results showed no improvement in overall survival (OS) or progression-free survival (PFS) with the combination, and the addition of ipilimumab increased toxicity. The median OS was 21.4 months for the combination versus 21.9 months for monotherapy, while median PFS was 8.2 versus 8.4 months, respectively. The study was discontinued due to futility as per the Data Monitoring Committee's recommendation.

Merck (NYSE: MRK) has expanded its Safer Childbirth Cities initiative, offering funding for nine new city-based projects aimed at improving maternal health outcomes and addressing racial disparities. Launched in 2018, this initiative is part of Merck for Mothers, a $500 million global program. The selected projects will address health needs affected by COVID-19 and aim to increase maternal health equity through community-led solutions and support for women before, during, and after childbirth. The initiative responds to rising maternal mortality rates in the U.S., especially among Black and marginalized women.