Merck Expands Keytruda Trial Reach Amid Strong Recent Run

Merck (MRK) has expanded its oncology footprint by partnering with Perspective Therapeutics to supply Keytruda for a trial combining targeted alpha therapy [212Pb]PSV359 with immunotherapy in certain lung and colorectal cancers. This move comes after Merck's recent presentations at major healthcare conferences and a dividend announcement.

The shares currently trade at $143.79, with a 30-day share price return of 5.85% and a 90-day share price return of 24.56%. The company has nearly tripled its late-phase pipeline since 2021, which is expected to have a potential commercial opportunity of over $50 billion by the mid-2030s.

Merck's strong recent run could be due to growing conviction in its oncology and pipeline story, or simply a hotter mood around big pharma. According to most followed narrative, fair value stands at $150.42, just above the recent close of $143.79.