There are very few cheap pharma companies these days, which basically
means that investors need to either be willing to take on more risk or
accept lower returns. With some recent pipeline setbacks and a patent
expiration pressuring 2013 results, it's not necessarily easy to make
the case for investing in Merck (MRK).
I believe the market may be underrating that pipeline, however, as well
as management's willingness to get a little more aggressive in seeking
out near-term growth. With a relatively undemanding valuation, Merck may
not offer huge upside, but it does look like something of a bargain in
the space.
Please read more here:
Merck's Discount Comes At A Price
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