New York, Jan 18, 2026, 14:53 EST — Market closed.
- Merck & Company, Inc. shares ended Friday at $108.83, dropping roughly 1.9%.
- After a Reuters report highlighted concerns about legal risks and review delays, traders are focusing on the FDA’s fast-track “priority voucher” pathway.
- Investors are gearing up for Merck’s Q4 earnings call, scheduled for Feb. 3.
Merck & Company, Inc. shares closed Friday at $108.83, slipping 1.9%. U.S. markets will be shut Monday for Martin Luther King Jr. Day. 1
Investors now have a few days to weigh a growing regulatory issue for major drug companies: just how much influence the FDA’s drive for quicker approvals should carry. The next regular trading session isn’t until Tuesday.
Timelines are crucial for Merck. The stock’s trajectory still hinges largely on upcoming pipeline developments and the pace at which new drugs clear regulatory hurdles.
Merck upgraded its forecast earlier this month, projecting $70 billion in revenue from “new growth drivers” by the mid-2030s. The company is pushing launches faster as competition heats up for Keytruda. 2
The FDA Commissioner’s National Priority Voucher Program, aiming to slash approval times to one or two months for select drugs, is colliding with some industry skepticism. According to a Reuters report, certain drugmakers worry that rushing reviews could open the door to legal battles if safety problems come up later. Richard Pazdur, a former FDA official, said some firms have told him they’re “not going ahead with it.” Greg Graves, a McKinsey partner, warned it might be “hard to unmake history” if the process turns out to be strict. Meanwhile, Eli Lilly’s research chief Dan Skovronsky emphasized that companies still want the FDA to remain “science-driven.” 3
Merck stumbled on Friday, trailing several big-cap rivals. The S&P 500 edged down 0.06%, while the Dow lost 0.17%. Merck’s shares slid 1.93%, compared with a 0.41% drop for Johnson & Johnson and a 0.93% decline for Pfizer, according to MarketWatch data. 4
The upcoming week is brief but packed with headlines. Investors are gearing up for a batch of earnings reports, including Johnson & Johnson, alongside crucial U.S. economic data that could shift risk sentiment. 5
Merck’s calendar is straightforward: the company plans to hold its Q4 2025 earnings call on Feb. 3. Investors will be looking for clearer insights into what will make up for lost revenue, the timeline for upcoming launches, and how confident management feels about the next batch of approvals. 6
The FDA’s fast-review drive isn’t without its pitfalls. Should the voucher program stall, face legal challenges, or spark stricter labeling disputes, a speedier timeline might backfire — introducing fresh risks. That kind of uncertainty often weighs on stocks reliant on pipeline milestones.
MRK’s next major event is set for Feb. 3. Before then, the FDA might drop more clues about how the voucher pathway will actually operate. Traders will be on alert for any updates once markets open Tuesday.
