Merck Soars as Space-Based Research Takes Next Step

Merck's shares rose approximately 1.0% to $146.39 on Thursday, following a concrete step into commercial space research.

The pharmaceutical giant is building upon previous work conducted in orbit aboard the International Space Station, which helped scientists better understand protein crystallization and contributed to the development of a faster subcutaneous formulation of Keytruda, the company's blockbuster cancer drug.

Keytruda generated about $8.37 billion of Merck's latest $16.61 billion quarter, roughly half of total revenue, while its subcutaneous version contributed $463 million to Keytruda sales.

However, regulators still lack a purpose-built approval framework for medicines manufactured in space, posing challenges to the commercialization of space-based research.