Merck KGaA Company Analysis

The publisher explores Merck KGaA’s prescription pharmaceutical performance and outlook over 2019–29.

Snapshot

Overview: Merck KGaA’s sparse late-stage pipeline and exposure to generics mean an increased reliance on newly launched Mavenclad and Bavencio.
Key themes: [1] Initial launch of Mavenclad is exceeding expectations, with significant market share gains in the US and 5EU [2] A significant portion of Merck KGaA’s portfolio has lost patent protection, but the company is maintaining sales growth due to emerging markets such as China [3] Late-stage pipeline predominantly related to Bavencio label expansions, although bintrafusp alfa and tepotinib could see regulatory filings based on Phase II data.

Model updates (14 May 2020)

Model updates (5 March 2020)

Model updates (14 November 2019)

Bavencio forecast adjusted lower due to sales performance and management guidance
Mavenclad forecast adjusted higher due to accelerating pace of sales ramp across all regions.

Model updates (8 August 2019)

Bavencio forecast adjusted lower due to trajectory of launch ramp and timing of supplemental approvals in renal cell carcinoma
Glucophage forecast adjusted higher due to strong growth in China
Mavenclad forecast adjusted higher due to strong launch in the US
Rebif forecast adjusted lower due to competition in the interferon market, as well as from oral dosage forms
Erbitux forecast adjusted higher in RoW due to addition to National Reimbursement Drug List in China, and lower in 5EU due to increased competition
Bintrafusp alfa forecast added
Tepotinib forecast added.

Company Background

Recent Earnings Review

Company Forecast

Company Profile

Clinical Trial Overview

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