Opdivo is expected to see 2020 sales declines, but key upcoming readouts could drive growth in 2021
Within the pipeline, Ozanimod, Liso-cel, and Ide-cel all are expected to receive approval and have shown promising data
This bodes well for the CVR, but note that the timelines are tight, especially for Liso-cel
Merck: Keytruda Competition Not Seen as a Threat, but Could Act as Stock Overhang in Near-Term
Keytruda is key to Merck’s growth prospects, as the drug’s growth makes up most of the company’s revenue growth for 2019
Two competing drug regimens announced positive results in 1L NSCLC recently, which could negatively impact Keytruda’s growth trajectory
Keytruda sets a high bar in efficacy and safety, and the street does not think that competitors will be able to meet this bar to commercially impact Keytruda sales
With that said, the trial results could act as an overhang in the near-term until full results are released in 2020