The pharmaceutical company reported its cancer drug failed to reach its goals for treating advanced non-small cell lung cancer.
Shares of Merck soared in premarket trading Friday, after the failure of a drug from rival Bristol-Myers Squibb in a late stage study.
European stocks finished Thursday higher as investors celebrated the BoE's decision to cut the UK's key interest rate to a record low.
The $75 billion Biogen may be vulnerable to a takeover, but it makes a risky target at a likely value approaching $90 billion.
Ronny Gal, Sanford C. Bernstein, discusses the potential of a takeover deal for Biogen.
Geoff Porges, Leerink Partners Managing Director & Senior Biotech Analyst, discusses the news that Biogen is a possible takeover target for the likes of Merck and Allergan.
The "Fast Money" traders said on Tuesday that mergers and acquisitions may help the biotechnology sector hit new highs.
Biogen shares soared on reports the company has drawn takeover interest from rival companies, the Wall Street Journal said.
CNBC's Meg Tirrell discusses Biogen drawing interest from Merck and Allergan, as possible acquisition, according to Dow Jones.
Biogen gets interest from Merck and Allergan, according to Dow Jones.
U.S. stocks closed mixed Friday, the last trading day of the month, as encouraging earnings from major tech companies offset negative reports from some energy firms and a disappointing GDP report.
Merck & Co. reported a 1 percent rise in quarterly revenue, driven by higher sales of its cancer drug, Keytruda.
AbbVie's quarterly net revenue jumped 17.8 percent, driven by demand for its top-selling treatment, Humira.
Merck, Exxon Mobil and Amazon are making headlines this Friday morning before the opening bell.
Some of the names on the move ahead of the open.
Barbara Ryan, Clermont Partners, weighs in on Merck's quarterly results and why she thinks the stock is transisitioning from a dividend play to a capital gains stock. New drugs are driving profits, says Ryan.
Gilead Sciences lowered its full-year sales outlook, citing slower-than-expected demand for its hepatitis C drugs, and said profits fell 22 percent.
Investors should skip buying Merck shares because of valuation and political risk, BMO Capital said.
These are the stocks on the move ahead of the opening bell.
Jim Cramer warned of lunatics pushing these investments to investors that are the absolute worst thing money can buy.