Merck & Co., Inc. (NYSE:MRK) announced that the Committee for Medicinal Products for Veterinary Use (“CVMP”) has recommended marketing authorization in Europe for Bravecto Plus, a spot-on combination topical solution (fluralaner plus moxidectin) for cats. Bravecto Plus, is part of the company’s Animal Health unit.
The company’s shares are down 13.8% so far this year, against the industry’s gain of 8% in the period.
The veterinary medicinal product, upon approval, will be used for treatment of both internal and external parasite infestations like ticks and fleas, heartworm, roundworm and hookworm in cats. The drug starts its killing activity for ticks and fleas immediately and continues for 12 weeks, while it prevents heartworm disease for eight weeks.
Bravecto was first approved in 2014 in chewable tablet formulation for dogs and in 2016 the spot-on version was launched as a topical solution for dogs and cats in the United States.
In 2017, Bravecto was the major growth driver at Animal Health unit due to rising demand for both the formulations. If Bravecto Plus is ultimately approved in the EU, sales of the product will increase further.
However, products from the company’s Animal Health unit face competition from products of other companies like Zoetis Inc. (NYSE:ZTS) , Eli Lilly and Company’s (NYSE:LLY) Elanco and generic products.
Zacks Rank & Stocks to Consider
Merck currently carries a Zacks Rank #3 (Hold).
Pfizer Inc. (NYSE:PFE) is a better-ranked stock in the pharma sector, carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Pfizer’s earnings estimates increased to $2.95 from $2.76 for 2018 and to $3.04 from $2.87 for 2019 over the last 60 days. The company delivered a positive earnings surprise in three of the four trailing quarters with an average beat of 4.97%.
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