CompetitionCompetitor Summit Therapeutics presented detailed data from their HARMONi-2 Phase 3 trial in PD-L1 positive NSCLC showing a statistically significant median PFS benefit compared to MRK's Keytruda.
Operational IssuesIssues involving the broader vaccine market in China, which continue to evolve, and specific operational issues with its partner Zhifei contributed to weaker than expected 2Q sales and prompted a tempering of the 2H24 growth outlook for the product.
Sales EstimatesThe market appears to be immediately anchoring towards the bear case scenario, essentially complete loss of revenue contribution from Gardasil in China.