On July 17, Merck rose 3.09% in regular trading, trading at $130.55/share, with turnover of $513 million. The rally was driven by the FDA approval of Lipfendra, the world's first and only once-daily oral PCSK9 inhibitor.

Merck announced that Lipfendra (enlicitide) 20 mg tablets received FDA approval as an adjunct to diet and exercise to reduce LDL-C in adults with hypercholesterolemia, including heterozygous familial hypercholesterolemia. Unlike existing injectable PCSK9 products, the oral delivery method is expected to significantly improve patient compliance. The drug is priced at a wholesale acquisition cost of $10.50 per day based on a 30-day supply.

Additionally, Lipfendra's marketing application in China has been accepted by the CDE and is proposed for priority review. The approval comes alongside multiple recent Keytruda indication expansions, including combinations for muscle-invasive bladder cancer and positive Phase 3 endometrial cancer data, while several investment banks — including JPMorgan ($140), BMO ($142), Wells Fargo ($150), and Scotiabank ($155) — have raised their price targets, collectively supporting market sentiment.

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