BUZZ-Merck rises on license deal with China's Hansoh Pharma

Reuters

2024/12/18

** Shares of drugmaker Merck MRK.N rise 1.5% to $101.57 premarket

** MRK and Chinese biotech Hansoh Pharma 3692.HK have signed global licensing deal for experimental obesity drug, HS-10535, co says

** Hansoh to receive $112 mln upfront and $1.9 bln in milestone payments

** MRK will take $112 mln charge before taxes in Q4 2024 as part of the deal

** 21 of 28 brokerages rate the stock "buy" or higher and 7 "hold"; their median PT is $130 - LSEG

** As of last close, stock has fallen 8.2% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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