Tuesday, February 26, 2013

Citi To Hear From Merck CFO Tomorrow In Manhattan, at 9:35 AM

I think Citi -- since at least July 2012 -- has had a "buy" recommendation out on Merck, with a price target of $50.

Back then, it was late to the party, but was right about the directionality.

Merck's CFO, Peter N. Kellogg will present at the Citi health care conference in mid-town Manhattan tomorrow morning. He is likely cover (or be asked about, at least) the various news items affecting Merck, post its year end conference call. Those are likely to include the Venezuelan $200 million currency devaluation charge, the $688 million settlement of the ENHANCE-era federal securities class actions (thanks, Fred Hassan!), the smallish loss in the Scheinberg Fosamax ONJ bellwether trial. . . and -- of course -- the latest developments/evolution in the New Merck R&D pipeline (including 2013's revamped bio-similars approach -- with the Samsung Bioepis/Biogen Idec JV).

See the Yahoo! Finance blurb, in any event -- for webcast details:

. . . .Peter N. Kellogg, executive vice president and chief financial officer, Merck, is scheduled to present at the Citi 2013 Global Healthcare Conference in New York on February 27 at 9:35 a.m. EST. Investors, analysts, members of the media and the general public are invited to listen to a live audio webcast of the presentation at [the Company's Investor page]. . . .
If anything truly noteworthy occurs, we will blog on it, likely in the late afternoon. So stay tuned, tomorrow.

1 comment:

Condor said...

Nothing of note -- really -- was in the slides.

Seems the webcast was all about the sleep med candidate, and Sugammadex. . . a science pipeline talk.