Merck & Co., (MRK) Gets Conditional Approval For EXZOLT CATTLE-CA1

​Merck & Co., Inc. (NYSE:MRK) is one of the Cheap NYSE Stocks to Buy Now. On December 5, an analyst from Guggenheim raised the firm’s price target on Merck & Co., Inc. (NYSE:MRK) from $104 to $122 and maintained a Buy rating on the stock.

​A day earlier, on December 4, the company announced receiving a conditional approval for EXZOLT CATTLE-CA1 from the FDA. EXZOLT CATTLE-CA1 is a topical solution containing fluralaner. The drug prevents and treats infestations caused by the New World screwworm larvae, which cause myiasis. Management noted that the regulatory process was accelerated by the FDA through priority zoonotic drug designation for treatments addressing serious diseases, speeding EXZOLT’s availability. The drug is still pending a full demonstration of effectiveness and is only conditionally approved. Management noted that CATTLE-CA1 will be available for prescription in the first quarter of 2025.

​Analysts from Guggenheim noted that their increased price target of Merck & Co., Inc. (NYSE:MRK) is based on the inclusion of probability-adjusted revenues for Winrevair in patients with Combined Post and Precapillary Pulmonary Hypertension. The firm believes that Winrevair represents an annual revenue potential of more than $5 billion, if the Phase 3 trials go smoothly.

​Merck & Co. Inc. (NYSE:MRK) is a global healthcare company that uses scientific innovation to develop and provide health solutions, including prescription medicines, vaccines, biologic therapies, and animal health products.

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