Why Merck (MRK) Is Up 8.5% After Promising Phase 3 Data for Oral Cholesterol Drug Enlicitide

• In recent days, Merck shared initial Phase 3 results showing its investigational once-daily oral PCSK9 inhibitor, enlicitide decanoate, led to substantial and sustained reductions in LDL cholesterol for patients with familial hypercholesterolemia and at-risk adults, with data presented at the American Heart Association Scientific Sessions 2025.
• The findings highlight enlicitide’s clinical impact across several lipid markers, high adherence rates, and a safety profile similar to placebo, underscoring its potential significance in addressing cardiovascular risk.
• We'll examine how these compelling Phase 3 results for enlicitide could influence Merck’s investment narrative and growth outlook moving forward.

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Merck Investment Narrative Recap

To be a shareholder in Merck today, you need confidence in the company’s ability to continuously deliver innovative therapies that offset revenue pressures from competition and eventual patent expirations. The recent Phase 3 results for enlicitide decanoate, with substantial LDL-C reduction and a safety profile comparable to placebo, may strengthen Merck’s profile as a pipeline-driven pharmaceutical leader, but do not materially shift the central near-term catalyst or the primary risk: Merck’s dependency on replacing eventual KEYTRUDA revenue losses with new approvals.

Among recent announcements, Merck’s continued clinical progress with KEYTRUDA in multiple cancers remains the most significant to its short-term outlook. Regulatory wins and expanded indications for KEYTRUDA highlight how critical it is for Merck to sustain strong performance from this franchise while pipeline therapies like enlicitide move towards commercialisation.

In contrast, investors should be mindful that revenue concentration in a few blockbuster drugs like KEYTRUDA can expose the business to sudden changes if...

Read the full narrative on Merck (it's free!)

Merck's narrative projects $72.0 billion revenue and $24.3 billion earnings by 2028. This requires a 4.2% yearly revenue growth and a $7.9 billion increase in earnings from $16.4 billion today.

Uncover how Merck's forecasts yield a $102.33 fair value, a 13% upside to its current price.

Exploring Other Perspectives

Thirty-three Simply Wall St Community members estimate Merck’s fair value anywhere from US$74.77 to US$228.66 per share, with perspectives clustering across the spectrum. As new therapies gain traction, the ability to deliver on pipeline potential will shape whether these valuations prove timely or cautious, explore how different views align with your own expectations.

Explore 33 other fair value estimates on Merck - why the stock might be worth 18% less than the current price!

Build Your Own Merck Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Merck research is our analysis highlighting 5 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Merck research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Merck's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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