Bedell Frazier Investment Counselling LLC significantly reduced its stake in Merck & Co., Inc. (NYSE:MRK) by 87.3% in Q3, selling 34,557 shares and retaining 5,012 shares valued at $421,000. This divestment happens amidst significant insider selling, with CFO Caroline Litchfield and EVP Richard Deluca selling substantial shares, and overall insider sales totaling over $38 million in three months. Merck is facing mixed news, including positive late-stage trial results for Keytruda and Welireg combinations, but also headwinds from weak Gardasil sales and a corporate reorganization due to Keytruda’s impending patent cliff.
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Bedell Frazier Investment Counselling LLC Sells 34,557 Shares of Merck & Co., Inc. $MRK
Bedell Frazier Investment Counselling LLC significantly reduced its stake in Merck & Co., Inc. (NYSE:MRK) by 87.3% in Q3, selling 34,557 shares and retaining 5,012 shares valued at $421,000. This divestment happens amidst significant insider selling, with CFO Caroline Litchfield and EVP Richard Deluca selling substantial shares, and overall insider sales totaling over $38 million in three months. Merck is facing mixed news, including positive late-stage trial results for Keytruda and Welireg combinations, but also headwinds from weak Gardasil sales and a corporate reorganization due to Keytruda’s impending patent cliff.