Merck & Co., Inc. (NYSE:MRK) Q4 2022 Earnings Call Transcript

Obviously, we have more to do there, but that is the aspiration and we have a lot of efforts underway to do that through what we are doing in IO combinations, IO/ADC combinations with our subcutaneous offering. And then, obviously, we are very excited recently about the deal we did with Moderna for the personalized cancer vaccine, which is really a therapeutic that we think, in combination with KEYTRUDA, while we are studying in first in melanoma, obviously, we believe, has the potential to move into broader tumor. So that in and of itself gives us a lot of confidence and we are doing similar activities with Lynparza, with Lenvima, and obviously, WELIREG it’s in early days. So if you look at the total of that and I have even gotten into our Vaccines portfolio and what we see as excitement there, we feel like we have made a lot of progress.

We have more to do, but that’s why you hear me talk more about how do we build the sustainable engine to drive growth well into the next decade and that really should be a focus point, because I am confident, if we do that well, the LOE of KEYTRUDA will take curve itself. So Dean?

Dr. Dean Li: Yeah. So there was a question on our TIGIT program, KEYTRUDA plus TIGIT. Just to remind everyone, we have nine ongoing trials. We have five Phase 3s. In fact, just recently, we opened up KEYVIBE-10, which is Phase 3 in early melanoma. In relationship to KEYVIBE-003, which I think is the question, we added the TPS greater than 50% as an endpoint. These are event driven, and as the events drive to statistically and clinically meaningful data, we will announce it appropriately.

Rob Davis: Great. Thank you, Andrew. Next question, please, Kelly.

Operator: Our next question comes from Evan Seigerman from BMO. Evan, your line is open.

Evan Seigerman: Hi, guys. Thank you so much for taking the question. I would love for you to talk to what might make MK-2870 better TROP2 targeting ADC versus those that we have seen from Gilead and Astra and Daiichi. Also, do you still believe that it’s too difficult to combine an ADC plus IO in a fixed dose combination? Thank you.

Dr. Dean Li: Yeah. So let me just state, I — we will be starting a whole series of Phase 3 trials this year. I really appreciate your question. For me, the critical thing is, whether it be an ADC or whether it be a RAS inhibitor in solid tumors, especially as you want to advance them in solid tumors where IO has been important, the combination benefit of the two becomes really important. So we are very excited to be pushing forward our TROP2 ADC. I can get into the details of the molecules and the linkers and the payloads and the darts. But really, the better sort of thing is, I believe that this year, we will be presenting our Phase 2 studies, and at the end of the day, that will be the most convincing data to provide to you as to why we think we have been important play with our TROP2 ADC, but it’s also the play of that TROP2 ADC in relationship to adding it to an IO agent.

We think that is an important considerations when thinking about any cancer killing mechanism in solid tumors.

Rob Davis: Great. Thank you, Evan. Next question please, Kelly.

Operator: Our next question comes from Louise Chen from Cantor. Louise, your line is open.

Louise Chen: Hi. Thanks for taking my questions here. So wanted to know how you are thinking about your Phase 3 trial design for your oral PCSK9 and how will that design really highlight the competitive advantages of your product? Thank you.