Touted as a game-changer therapy in oncology, Keytruda witnessed a strong demand in patients with advanced melanoma, first-line lung cancer, as well as head-and-neck cancer. The drug – launched in nearly 50 international markets—has received widespread approval as an effective therapy.
With this latest update, Merck has expanded its market and has set a high bar for its rivals including Bristol-Myers Squibb (BMY) and Swedish biopharmaceutical giant AstraZeneca Plc (AZN).
Credit Suisse expects Merck’s blockbuster drug to generate over $10 billion in sales by 2023.
Meanwhile, Incyte (INCY) shares traded in red after the company stated that it’s closely watched drug epacadostat failed to boost the effectiveness of Keytruda when the two were combined to treat those who were newly diagnosed with cancer.
Merck has been, over the years, increasing its dependence on cancer portfolio for growth. During the fourth quarter of 2017, Keytruda’s revenue rose to $1.3 billion from a mere $484 million a year ago.