Way back in July of 2016 (when we last mentioned a BMO prognostication), while we were indicating what a game changer pembrolizumab was going to be, the folks at BMO had Merck as fully valued at $58. I suppose that wasn’t a terribly risky call — but even as a critic, I thought it was being under-appreciated.
Fast forward to today — and Merck has a fairly clear runway to 2034-35, on patents on what is now called Keytruda, clocking about $25 billion a year in sales revenue. That’s pretty nice… runway.
So BMO now calls Rahway as an outperformer, even at ~$104, today. BMO’s new call? $132.
Yes. I agree. (But think of how much BMO clients missed, via the call that it was fully valued at $58! Yikes.)
Merck has a minimum of 25 per cent upside just in the next six months of elapsed time.
We won’t become a silly maximalist here — ever the balance, right?
But it does look pretty good for the old George Merck firm, through 2025, to a near certainty. Now you know — and c’mon, let my Buffs steal one from UCLA tomorrow night! Out.
नमस्ते
Powerline Lies... 