Merck & Company (MRK) gained over 8% to close at $81.40 on October 1. Merck is a biopharmaceutical firm whose main product is the PD-L1 inhibitor Keytruda, which treats melanoma. Keytruda accounts for a significant portion of the company's sales, but Merck is looking for ways to diversify its product portfolio and decrease its reliance on the drug. Merck's share price has increased by only 11% in the last six months, but the latest statement regarding the new COVID-19 pill might be a game-changer for the business.
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Merck (NYSE:MRK)
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Merck (NYSE:MRK)
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