Boston, MA 01\/14\/2013 (wallstreetpr) – Shares of Merck & Co., Inc. (NYSE:MRK)<\/b> rose to 6.5 percent on Monday close regular session at $53.12 on news that the company started submitting\u00a0 to Food and Drug Administration portions of completed application for its new cancer drug in an ongoing basis. This means that the drug could end by attaining early approval of FDA, thus benefiting the stock sooner than later.<\/p>\n
The proposed drug is targeted at treatment of advanced melanoma where there is currently limited therapy. Looking at the successful trials of the drug, it is poised to be a big thing in advanced melanoma treatment. Perhaps it is the leaked prospects of this drug that has sparked interest in Merck & Co., Inc. (NYSE:MRK) stock as it puts forward a review application of the drug to FDA.<\/p>\n
If all goes well, the application for the drug which is codenamed MK-3475 is expected to close in 1H2014. This drug candidate presents potential revenue milestone for Merck & Co., Inc. (NYSE:MRK). Coupled with the ongoing cost cutting efforts, the company headed for financial relief in medium term future.<\/p>\n
Cost cutting<\/b><\/p>\n
Merck & Co., Inc. (NYSE:MRK) is combining operation cost reduction and asset sales to reduce financial losses. The company just sold its $1.1 billion-acquired Sirna to Alnylam Pharmaceuticals<\/strong> (NASDAQ:ALNY).<\/strong> Although the company is selling this business for just a small fraction of what it was acquired for, it relieves it of a lot of financial burden that it has had to shoulder since 2006.<\/p>\n Sirna failed to translate into desirable value for Merck & Co., Inc. (NYSE:MRK) even though it was expected to leverage the company\u2019s foray into RNAi which was considered the next big thing in biotech and pharmaceutical sector.<\/p>\n Put next to peers such as Roche (NASDAQOTH:RHHBY)<\/strong> and Sanofi (NYSE:SNY)<\/strong>, Merck & Co., Inc. (NYSE:MRK) is fast driving to safer ground with its ongoing consolidation and revenue development. These should result in massive value return to investors this year and the upcoming years.<\/p>\n Perhaps it will be too late for these rivals to think about consolidation once they discover the real situation in the market. But during that time, Merck & Co., Inc. (NYSE:MRK) and its investors will be smiling all the way to the bank.<\/p>\n","protected":false},"excerpt":{"rendered":" Boston, MA 01\/14\/2013 (wallstreetpr) – Shares of Merck & Co., Inc. (NYSE:MRK) rose to 6.5 percent on Monday close regular session at $53.12 on news […]<\/p>\n","protected":false},"author":15,"featured_media":5562,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[4345,1683,4346,1123,3599,4347],"stock_ticker":[],"class_list":["post-13583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-alnylam-pharmaceuticals-nasdaqalny","tag-merck-co-inc-nysemrk","tag-nasdaqalny","tag-nysemrk","tag-nysesny","tag-sanofi-nysesny","entry"],"acf":[],"yoast_head":"\n