Forward-looking statements include, but are not limited to, statements regarding the Company’s ability to satisfy the continued listing requirements of The Nasdaq Capital Market. Steven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. The new move notably keeps Merck’s animal health division, which has been a frequent source of spinoff speculation over the years. The idea of spinning off dead weight while keeping highly profitable (and expensive) new drugs aimed at cancer or other diseases has been popular with investors for more than a decade, so much so that Frazier has answered questions about the notion multiple times over the past decade. Merck & Co. Inc. published this content on 11 March 2020 and is solely responsible for the information contained therein. Part of the reason is that sales of Keytruda, only met expectations, instead of beating them. The companyâs biopharma revenue grew about 3% to $10.2 billion in 3Q while Upjohn (the off-patent drugs unit) continued to be a drag on Pfizerâs performance with an 18% drop in revenue to $1.9 billion. “That’s all well and good,” Frazier said, “but you get to a point where the focus on your peak growth drivers raises the question of how you can make the best use, get the greatest impact from the standpoint of public health, from the standpoint of individual patient health and from the standpoint of shareholder value with the rest of the portfolio.”. -0.58% SHW, Dividend savvy investors might prefer Pfizer over Merck based on Pfizerâs dividend yield of 3.98% compared to Merckâs yield of 3.06%. The stock scores a Moderate Buy analyst consensus based on 8 Buys, 3 Holds and no Sells. Next up, a highly anticipated outside expert review. Backtested performance is developed with the benefit of hindsight and has inherent limitations. SGP, Stockholders owning shares via a broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to their brokers’ particular processes, and will not be required to take any action in connection with the reverse stock split.About OrganovoThe Company has historically focused its efforts on developing its in vivo liver tissues to treat end-stage liver disease and a select group of life-threatening, orphan diseases, for which there are limited treatment options other than organ transplantation. The reverse stock split will take effect at 5:00 pm (Eastern Time) on August 18, 2020, and the Company’s common stock will open for trading on The Nasdaq Capital Market on August 19, 2020 on a post-split basis. The analyst stated, âIt appears Pfizer has wisely decided to no longer provide running updates on the progress of the trial and, instead, will next communicate when they have conclusive results (positive or negative) from the DMC[data monitoring committee]. Organon has been an important part of Merck since the 2009 Schering-Plough acquisition. Since trades have not actually been executed, results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity, and may not reflect the impact that certain economic or market factors may have had on the decision-making process. About OrganovoThe Company has historically focused its efforts on developing its in vivo liver tissues to treat end-stage liver disease and a select group of life-threatening, orphan diseases, for which there are limited treatment options other than organ transplantation. It has also teamed up with Ridgeback Biotherapeutics to develop an oral antiviral candidate for COVID-19. Hassan said on the conference call that the company won't be cutting jobs for at least a year and didn't see much overlap. Fueled by its leading contraceptives and fertility businesses, Organon will invest in innovations that support the distinct health care needs of women today. KENILWORTH, N.J., March 11, 2020 – Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced that Organon & Co. will be the name of the new company to be created through the intended spinoff of its women’s health, trusted legacy brands and biosimilars businesses. to boost its paints division. Intraday Data provided by FACTSET and subject to terms of use. God wants you to be rich: 5 faith-based rules, The 15-minute tip: Deep-in-the-money call options, Mars, Buffett to buy Wrigley for $23 billion, I’ve already been injected with a COVID vaccine. The definitive proxy statement is available free of charge from the sources indicated above.Organovo:Taylor J. Crouch 858 224 1000 info@organovo.com, Discover new investment ideas by accessing unbiased, in-depth investment research, NasdaqCM - NasdaqCM Real Time Price. This is why I’m cheering for the Novavax underdog, Legendary investor called this stock market a ‘Real McCoy’ bubble, and now Jeremy Grantham’s fund is trailing the S&P 500 by 14 percentage points, Bitcoin price plunges over 10% to stage Thanksgiving correction, What you need to know about new U.S. crude oil price benchmarks. The TipRanks Smart Score performance is based on backtested results. Copyright © 2020 MarketWatch, Inc. All rights reserved. Historical and current end-of-day data provided by FACTSET. While once expected to be a high-growth area, biosimilars have so far stalled in the U.S.; Merck said in its statement that the new company would be a leader in this field. Follow Steve on Twitter: @MKTWgoldstein. Merck is hanging its hat on Keytruda with plans to spin out its women's health and cardiovascular drugs, as well as some other brands into Organon & Co. next year. Information regarding the special interests of the Organovo directors and executive officers in the matters to be considered at the 2020 Annual Meeting is included in the definitive proxy statement referred to above. ', Usage of the new company logo and brand is effective upon completion of the spinoff in the first half of 2021. KENILWORTH, N.J., March 11, 2020 – Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced that Organon & Co. will be the name of the new company to be created through the intended spinoff of its women’s health, trusted legacy brands and biosimilars businesses. Specifically, backtested results do not reflect actual trading or the effect of material economic and market factors on the decision-making process. Within the biopharma business, Pfizerâs rare heart disease drugs Vyndaqel and Vyndamax delivered revenue of $351 million in 3Q, reflecting a 125% growth. Information regarding the special interests of the Organovo directors and executive officers in the matters to be considered at the 2020 Annual Meeting is included in the definitive proxy statement referred to above. Excluding the Upjohn business, it expects a five-year revenue growth rate (CAGR) of at least 6% on a risk-adjusted basis and adjusted EPS growth of about 10%. Private Securities Litigation Reform Act of 1995. BOSTON (MarketWatch) -- Schering-Plough Corp. on Monday said it would buy Dutch biotech group Organon BioSciences for $14.4 billion (11 billion euros) in a deal aimed at boosting its product portfolio in biotech-based drugs, women's healthcare and animal care products. Carving off 14% of Merck’s sales into what it is still calling “NewCo” should allow the core company to grow faster, attracting investors who want to bet on the rising sales of the company’s cancer drug, Keytruda, which by itself generates $11 billion in annual sales and grew at a 55% clip in 2018, as well as its businesses in vaccines and hospital drugs. Schering-Plough expects the deal to lift earnings by about ten cents a share in its first full year, excluding purchase-accounting adjustments and acquisition-related costs. On a conference call early Monday, Hassan stressed that the Organon buy would build out Schering-Plough's presences in central nervous system drugs, women's healthcare and animal products. Merck to Buy OncoImmune for $425 Million Amid Race for Covid-19 Treatments --.. Merck to Buy OncoImmune Amid Covid-19 Vaccine Development, Chairman, President & Chief Executive Officer, CFO & Executive Vice President-Global Services. The companyâs strong oncology sales along with growth in its Animal Health business helped it in delivering better-than-anticipated results in the third quarter. Investors will have to wait for the next Form 13F to see what Buffett does with the shares of Viatris that all Pfizer shareholders received. Adjusted EPS in the quarter declined 4% to $0.72 as revenue fell 4.3% Y/Y to $12.1 billion with the pandemic impacting the top-line by $500 million. In other countries, generic drugs are less trusted and less popular. (See MRK stock analysis on TipRanks). More broadly, the key to making investors happy will be to make them want to own NewCo. Its animal health business Intervet had 2006 sales of $1.5 billion. Like Merck, Pfizer is looking to get more focused by merging its Upjohn generic-drug business with Mylan in a new company called Viatris that's scheduled to start trading on Tuesday. For more information visit merck.unleashinggrowthpotential.com. Schering-Plough Valspar We continue to see upside from the vaccine and, more importantly, the rest of Pfizer’s pipeline.â. The spin-off is expected to be completed in 2Q21 and will help Merck focus on its oncology, vaccines and animal health businesses.
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