Merck Gains Ahead Of Organon Listing Following Hexavalent Vaccine Launch By Investing.com

Merck Gains Ahead Of Organon Listing Following Hexavalent Vaccine Launch

Stock MarketsJun 03, 2021 09:52AM ET

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Merck Gains Ahead Of Organon Listing Following Hexavalent Vaccine Launch

By Dhirendra Tripathi

Investing – Merck (NYSE:MRK) shares rose 1% Thursday ahead of the day’s listing of Organon (NYSE:OGN_w), its spun-off business that has a broad portfolio of medicines and products.

The spinoff is expected to net Merck incremental operating efficiencies of approximately $1.5 billion over three years, with approximately $500 million realized during 2021. In connection with the spinoff, Merck received approximately $9 billion of Organon.

The announcement of the spin-off is one of the several positive developments that have happened at the German company this month.

The completion of the spin-off follows three announcements on Tuesday, only one of which was made by Merck.

The first was the launch of VAXELIS, the only hexavalent (six-in-one) combination vaccine in the U.S. indicated for active immunization to help prevent diphtheria, tetanus, pertussis, poliomyelitis, hepatitis B, and invasive disease due to haemophilus influenzae type b.

VAXELIS is approved for use as a 3-dose series in children 6 weeks through 4 years of age (prior to the 5th birthday).

The novel vaccine has been developed as part of a U.S.-based partnership between Merck and Sanofi Pasteur (NASDAQ:SNY).

In Tuesday’s second announcement, biotechnology company Immutep (NASDAQ:IMMP) announced it will collaborate with Merck in the safety trial of an immunotherapy treatment the Sydney, Australia-based company is developing for cancer.

The trial will be done in combination with another immunotherapy that Merck and GlaxoSmithKline (NYSE:GSK) are jointly developing.

Tuesday’s third disclosure involving Merck was California-based Sutro Biopharma (NASDAQ:STRO) saying it has received a milestone payment from Merck for patient enrollment to study next-generation cancer and autoimmune therapeutics.

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Comments (2)

Luis Caito Jun 03, 2021 12:17PM ET

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Dear Dhirendra MRK is not German. It is called MSD outside USA and Canada. The German Merck (which logo is shown) is another company.

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Luis Caito Jun 03, 2021 12:15PM ET

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MRK is not German. It is called MSD outside USA and Canada. The German Merck (which logo is shown) is another company.

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Merck Gains Ahead Of Organon Listing Following Hexavalent Vaccine Launch

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