Merck & Co. Inc. ($MRK) Stock | Shares Get A Lift On FDA Approval

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Merck & Co. Inc. (NYSE: MRK)

 

 

Merck Earnings & Technicals

MRK Chart

Merck & Co. finally got the approval they were looking for from the Food and Drug Administration for their new treatment of hepatitis C called Zepatier. The drug is take once-dailly as a single-tablet that will compete with the leaders in this sector, Gilead (GILD) and AbbVie Inc. (ABBV). This should help MRK’s position and increase their overall bottom line as the 12-week treatment runs for about $54,600. Shares of MRK were up in the post market hitting highs of $50.86 after closing the day down at $49.20, just over a 3% increase.

 

Shares of MRK have been hit like most stocks for 2016 but bounced off support at the $49 level and look to reclaim the big $50 level after this news. We should see some resistance come in at $50.71 and $51 levels as the moving averages are directly above current trading prices so we’ll need to see a nice push with volume to substantiate any positive move. Currently the 200-day moving average is sitting at $55.28 and longer term resistance will be met at $55.65. Currently analysts have an average price target of $60.95.

 

MRK Profile

Merck & Co., Inc. provides various health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products worldwide. It is a global research-driven pharmaceutical company that discovers, develops, manufactures and markets vaccines and medicines to address unmet medical needs. The company operates through the following segments: Pharmaceutical, Animal Health and Alliances. 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 company sells these products primarily to drug wholesalers and retailers, hospitals, government agencies and managed health care providers, such as health maintenance organizations, pharmacy benefit managers and other institutions. Its vaccine products consist of preventive pediatric, adolescent and adult vaccines, primarily administered at physician offices. The company sells these vaccines primarily to physicians, wholesalers, physician distributors and government entities. 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 company was founded in 1851 and is headquartered in Kenilworth, NJ. (MarketWatch)

 

 

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