New York, Jan 23, 2026, 21:46 (EST) — The market is closed.
- Merck shares ended Friday at $108.18, slipping 0.9%; after-hours trading showed a modest dip.
- Vaccine makers face renewed pressure following shifts in U.S. health policy, casting a shadow over next week’s trading.
- Merck’s Feb. 3 earnings report is the upcoming event to watch, especially for updates on guidance.
Merck & Co shares ended Friday down 0.92%, closing at $108.18. In after-hours trading, the stock slipped slightly to $107.91.
U.S. markets remain closed until Monday, leaving investors to focus on Merck’s upcoming fourth-quarter and full-year earnings report on Feb. 3. The company’s executives will also hold a conference call that day.
Policy uncertainty around vaccines is now front and center. Under Health Secretary Robert F. Kennedy Jr., the U.S. has overhauled inoculation schedules and guidelines, Reuters reported. Analysts say these moves could hit demand and valuations. Stephen Farrelly, ING’s global pharma and healthcare lead, put it bluntly: “Vaccines will not be a growth area under the current administration.” Clear Street’s Bill Maughan added that the political climate makes it tough to have “conviction in a vaccine name.” Reuters
Merck is zeroing in on oncology, where Keytruda remains its flagship drug. This week, Merck and Moderna revealed five-year follow-up results from a mid-stage melanoma trial. Their experimental personalized cancer vaccine combined with Keytruda showed a lower risk of recurrence or death compared to Keytruda alone. Recurrence-free survival tracks how long patients stay cancer-free post-treatment. “These five-year follow up data are encouraging,” said Dr. Marjorie Green, senior VP and head of oncology, global clinical development at Merck Research Laboratories. Merck.com
Merck fell for a second day, ending Thursday at $109.18 and sliding further to $108.18 on Friday.
The broader market closed out a choppy week on a quiet note. The S&P 500 barely budged, while the Dow slipped 0.6% on Friday, per an AP market recap.
Traders will be on alert next week for new vaccine guidance from Washington, and for clues that policy changes may stick around instead of being short-lived. This matters even to diversified drugmakers, since it can swiftly alter sentiment throughout healthcare.
Merck is zeroing in on guidance. Investors are keen to learn management’s take on demand trends for 2026 and how they plan to balance newer programs with their top-selling drugs.
There’s a clear risk here: if vaccination rates continue to drop or regulations keep shifting, vaccine franchises across the board could see a rougher, more unpredictable year. Should Merck’s Feb. 3 outlook turn cautious, the stock’s reputation as a “safe haven” could quickly unravel.
Merck will report earnings on Feb. 3 and hold its call the same day, providing a key directional signal for MRK shares as February’s first full week begins.
