The U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy Designation to Merck’s enpatoran. This investigational oral TLR7/8 inhibitor treats adult systemic lupus erythematosus patients with active skin manifestations. The designation fast-tracks development and review for drugs targeting serious or life-threatening conditions.
Wells Fargo analyst Mohit Bansal reiterated an Overweight rating on Merck. Bansal raised the price target from $145 to $150. Merck pays its previously announced quarterly dividend of $0.85 per share today.