- Merck (NYSE:MRK) shareholders now know the main reason behind today's selloff. After the close, it announced that it has withdrawn its marketing application in Europe seeking approval to use Keytruda (pembrolizumab), in combination with pemetrexed and carboplatin, for the first-line treatment of nonsquamous non-small cell lung cancer (NSCLC), a large potential market being hotly pursued by a list of competitors.
- The company says it is "confident" in the clinical data supporting the application, generated in the KEYNOTE-021 study, Cohort G1, but apparently not overconfident considering the withdrawal.
- Topline data from the KEYNOTE-189 study, also in first-line NSCLC, is being anxiously awaited by investors.
- Shares are off a fraction after hours on robust volume.
- Previously: Merck announces follow-up data with Merck’s KEYTRUDA (June 3)
- Now read: Why The Anti-Amyloid Approach To Alzheimer's Disease Has Failed
Original article