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MERCK AND COMPANY (MRK)
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Merck & Co., Inc. : Merck On Track to File Application for Insomnia Drug This Year

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06/13/2012 | 02:52pm CET
   By Victoria Stilwell 
 

Merck & Co. (MRK) said it is on track to file a new drug application for its experimental insomnia medicine this year, making the drug one of six major filings planned for 2012 and 2013.

Data from a Phase 3 clinical trial showed Merck's insomnia drug suvorexant reduced the time it took patients to fall asleep and increased the time patients stayed asleep as early as the first night and at the three-month point compared with a placebo.

The drug met statistical significance on 15 out of 16 primary endpoints. The findings were to be presented at the Annual Meeting of the Associated Professional Sleep Societies.

Merck, like its rivals, has been cutting costs as part of an effort to soften the hit from increased generic competition. The company's top-selling allergy and asthma medication Singulair loses patent exclusivity in August and the ripple-effect from generic versions of rival Pfizer Inc.'s (PFE) cholesterol fighter Lipitor have contributed to a decline in sales of Merck's anticholesterol drug Vytorin.

Merck reported in April first-quarter earnings rose 67% as the drug maker's cost controls helped offset slower-than-expected sales growth.

Shares closed at $38.43 Tuesday and were inactive in premarket trade. The stock is up 8.8% in the past 12 months.

Write to Victoria Stilwell at [email protected]

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ChangeLast1st jan.
MERCK AND COMPANY 0.04% 54.57 Delayed Quote.-2.29%
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Financials ($)
Sales 2018 41 703 M
EBIT 2018 13 718 M
Net income 2018 8 465 M
Debt 2018 13 842 M
Yield 2018 3,52%
P/E ratio 2018 16,80
P/E ratio 2019 13,51
EV / Sales 2018 3,90x
EV / Sales 2019 3,75x
Capitalization 149 B
Chart MERCK AND COMPANY
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Merck and Company Technical Analysis Chart | MRK | US58933Y1055 | 4-Traders
Technical analysis trends MERCK AND COMPANY
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 66,2 $
Spread / Average Target 21%
EPS Revisions
Managers
NameTitle
Kenneth C. Frazier Chairman, President & Chief Executive Officer
Robert M. Davis CFO & Executive Vice President-Global Services
Clark Golestani Chief Information Officer & Executive VP
Roy D. Baynes Chief Medical Officer
Thomas Henry Glocer Independent Director
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