Merck CEO Plays Down Cost Concerns Over Intismeran — ‘We Don't See Cost As A Limit To Access’

• On Thursday, MRNA shares plunged more than 17% after Phase 3 trial data was leaked ahead of Saturday’s ESMO presentation.
• Intismeran, combined with Keytruda, reduced the risk of melanoma recurrence or death by 58% after six months, compared with Keytruda alone.
• Merck and Moderna anticipate potential approval of the drug in 2027.

Merck (MRK) CEO Rob Davis expressed confidence in the commercial potential of the much-talked-about personalised cancer vaccine, Intismeran, playing down concerns that its complex manufacturing process could make the treatment too expensive for patients.

His comments came after Citi questioned whether the vaccine’s clinical benefits justify the cost and complexity of production.

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In an interview with CNBC on Friday, Davis credited Moderna’s mRNA technology and specialized manufacturing process for making personalized cancer vaccines commercially viable.

“We think we will have very competitive costs, and we don’t see cost as a limit to access,” Davis said.

At the time of writing, MRK shares were down 2.2% while MRNA stock traded 0.1% lower.

Davis ‘Very Confident’ On Delivering Vaccine On Scale

Intismeran is a personalized cancer vaccine being developed using Moderna’s mRNA technology. The two companies are jointly developing the treatment, which is being tested alongside Merck’s blockbuster cancer drug Keytruda. Unlike traditional vaccines, Intismeran is customized using genetic mutations identified in each patient’s tumor.

Davis said the process currently takes about six weeks, from analyzing a patient’s tumor to manufacturing the vaccine. “So it’s actually very efficient, and one, we feel very confident, we can deliver on scale,” Davis added.

Intismeran, Keytruda Reduced Risk Of Melanoma Recurrence Or Death By 58% After Six Months

On Thursday, MRNA shares plunged more than 17% after Phase 3 trial data, which was leaked ahead of Saturday’s ESMO presentation, fell short of investors’ expectations, triggering what analysts described as a “sell-the-news” reaction.

Merck and Moderna subsequently released the official findings, with Intismeran, combined with Keytruda, reducing the risk of cancer returning or death by 42% compared with Keytruda alone. The results were even better after six months, with the combination reducing the risk of melanoma recurrence or death by 58%, compared with Keytruda alone.

“What’s not appreciated is because this is an immunisation, much like you would get if you got a vaccine, you really need to look at the six-month data. That’s the time that allows your body to fully mount an immune response at six months, and it has reduced the risk of recurrence or death by 58%. So this is meaningful if you’re a patient,” Davis said.

Potential Approval in 2027

Davis said Merck and Moderna are moving quickly to seek regulatory approval for Intismeran, with hopes of filing an application before the end of 2026.

"We’re working as fast as we can right now to get the file in,” Davis said, adding that the companies anticipate potential approval sometime in 2027.

Retail’s Take On MRNA, MRK

Retail sentiment surrounding MRK on Stocktwits remained ‘bullish’ over the past 24 hours while sentiment for MRNA turned ‘neutral’ from ‘bearish’ over the same period.

Chatter largely centered on the data, which left some users disappointed.

While MRK shares have climbed 36% so far this year, MRNA continues to be among the top biotech gainers, with a 550% surge.

Also read: BE Stock Extends Selloff After Q3 Print, But Morgan Stanley Sees A Production Ramp Ahead

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