We will see where Merck closes, but at the moment, it is off a fair bit — from yesterday’s NYSE close.
This may be a bit immodest, but throughout the mid-morning hours this morning, Merck had been steadily rising on the NYSE, and on pretty solid volume, too.
Then, at 10:55 a.m. local New York time, I published the FDA/J&J Invokana® speculation, in the immediately-below post. The $5.8 billion franchise Merck runs — in Januvia®/Janumet® — would clearly be impacted, and as soon as the next quarter, should FDA vote to approve Invokana, tomorrow evening.
Now look at the day’s chart (thus far), courtesy Yahoo! stocks:
I have searched, and seen no earlier — or contemporaneous — mention of the likely Merck/Januvia impact, here. In addition, my traffic spiked in the 11 am to Noon time frame, Eastern — much of it from in and around Manhattan. I’ll name no names — but all the usual Wall Street firms’ IP backbones were well-represented. Highly entertaining.
Now, we wait for tomorrow’s FDA approval action — or complete response letter.