US pharma giant Merck & Co (NYSE: MRK) is having a ghastly Halloween season.
On Friday, its shares closed 6% down after the company presented financial results for the latest quarter that included confirmation of increasing competition, a costly cyber attack and further expenses that hit revenue and earnings.
Another reason for the share slipping late on Friday – and the likely cause of its further 5% drop by Monday lunchtime to $55.43, was news that Merck had withdrawn its European application for Keytruda (pembrolizumab) in combination with pemetrexed and carboplatin as a first-line treatment for metastatic non-squamous non-small cell lung cancer (NSCLC).
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