|Bid||48.10 x 2700|
|Ask||48.17 x 5100|
|Day's Range||48.03 - 48.75|
|52 Week Range||36.81 - 50.24|
|PE Ratio (TTM)||11.63|
|Dividend & Yield||1.64 (3.44%)|
|1y Target Est||N/A|
Merck and Co Inc said on Thursday the U.S. Food and Drug Administration (FDA) tentatively approved its follow-on biologic version of French drugmaker Sanofi SA's blockbuster diabetes treatment, Lantus. Merck's copycat, if launched, would challenge Lantus as a cheaper alternative that could chip away at the drug's sales, which reached 5.71 billion euros ($6.6 billion) last year and represented over a sixth of Sanofi's total sales.
Merck (MRK) secures a tentative FDA approval for its insulin candidate, Lusduna Nexvue, a biosimilar version of Sanofi's Lantus. The sanction is provisional owing to an ongoing litigation with Sanofi.
Pharma sector second quarter earnings season has started with industry bellwether Johnson & Johnson (JNJ) reporting earlier this week while AstraZeneca and Merck provided regulatory updates.