Merck is the top performer in the Dow Jones industrial average this week. It has climbed 4 percent, compared with a drop of slightly more than 1 percent for the overall average.
A big driver has been promising results from a preliminary study on the effectiveness of lambroliz-umab, an experimental drug for advanced melanoma – skin cancer that has spread or is inoperable. It’s part of a new cancer research area called immune-oncology that within several years could bring safer treatments and mean billions in revenue for drugmakers.
Such a payoff would be welcome news for Merck investors. The company must replace several billion dollars in revenue lost to recent generic competition for several drugs, including Singulair, an asthma and allergy pill.Associated Press