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MKKGY - Merck KGaA FDA Approval Moves It Towards A Competitive Space
Merck KGaA ADR
Merck KGaA (MKKGY) (MKGAY) and its partner Pfizer (PFE) announced that they had obtained FDA approval for their drug Bavencio to treat first-line advanced kidney cancer. This is good news because the PD-1/PD-L1 inhibitor will finally have the shot at another market. Bavencio has struggled in the past to find a solid indication that it works for. The bad news is that despite solid footing, Bavencio will have competition from U.S. Merck's (MRK) Keytruda and Bristol-Myers Squibb's (BMY) Opdivo. This will set up a highly competitive landscape.