Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Merck & Co., Inc. (NYSE: MRK) securities.
If you suffered a loss on your Merck investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 03 2022 - Feb 03 2025
CASE DETAILS: According to the complaint, defendants provided investors with material information concerning Merck’s expected revenue of $11 billion from sales of Gardasil by 2030. Defendants’ statements included, among other things, confidence in Merck’s purported ability to utilize successful consumer activation and education efforts on the benefits of Gardasil in order to drive demand and capitalize on eligible populations for vaccination, resulting in confidently optimistic reports and forecasts of Gardasil’s growth in China. The full truth finally emerged on February 4, 2025, when Merck announced it would no longer achieve the long-forecasted $11 billion in sales of Gardasil by 2030, as it would cease shipments of Gardasil to China “through at least midyear” to facilitate a “rapid reduction of inventory.” Defendants claimed this was necessitated by the continued over-inflation of overall channel inventories as demand in China for Gardasil had “not recovered to the level we had expected.” Following this news, Merck’s common stock declined dramatically. From a closing market price of $99.79 per share on February 3, 2025, Merck’s stock price fell to $90.74 per share on February 4, 2025, a decline of more than 9% in the span of just a single day.
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