Merck (MRK) Jumps 6.8% on Trump Tariffs, Stellar Pulmonary Hypertension Drug Trial

We recently published 11 Stocks Crushing Wall Street With Whopping Gains. Merck & Co., Inc. (NYSE:MRK) is one of the top performers on Tuesday.

Shares of Merck & Co. Inc. (NYSE:MRK) rallied for a third straight day on Tuesday, as investors snapped up shares on twin catalysts, including tariffs on pharmaceutical imports and stellar results from its clinical trial for a treatment candidate for pulmonary arterial hypertension (PAH).

During the session, Merck & Co., Inc. (NYSE:MRK) finished the day up by 6.81 percent to close at $83.93 apiece, with investors loading portfolios in US-based pharmaceutical companies a day ahead of the official imposition of 100 percent tariffs on pharmaceutical imports.

By October 1, drugs entering the US will face a hefty tariff unless they invest in manufacturing facilities in the country.

The announcement sparked optimism for US pharmaceutical firms, including Merck & Co., Inc. (NYSE:MRK), as tariffs would make domestically produced products much cheaper and more appealing to consumers.

Additionally, Merck & Co., Inc. (NYSE:MRK) announced impressive results from the phase 3 trial of Winrevair for patients with PAH.

During the study, Merck & Co., Inc. (NYSE:MRK) said Winrevair reduced the risk of clinical worsening events by 76 percent. The trial enrolled patients who were within their first year of diagnosis.

The safety of Winrevair was also generally consistent.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.