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TOWN OF PALM BEACH SHARF,MICHAEL MERCK,GEORGE F OXLEY,JOHN C IOVINO,JUDITH
KELLY JR,EDWARD J GENDELMAN,BRUCE P GLUMAX LIMITED PARTNERSHIP HOFFMAN,TIMOTHY BAILEY
J.P.Morgan North America Equity Research O2 June 2014 • Merck & Co., Inc. Pushing Ahead Aggressively in PD-1 Development We attended Merck's ASCO analyst meeting today where the company reviewed new data and development plans for its PD-1 (pembrolizumab). Overall, we increasingly see M
Australia Limited (JPMSAL) (ABN 61 003 245 234/AFS Licence No: 238066) is regulated by ASIC and is a Market, Clearing and Settlement Participant of ASX Limited and CHI-X. Taiwan: Securities (Taiwan) Limited is a participant of the Taiwan Stock Exchange (company-type) and regulated by the Taiwan Securities
truda label further reinforces our view that Opdivo will maintain a clear leadership position in the NSCLC marketplace. Overall, we continue to see Merck as a competitive I/O player with a lead in multiple tumors with large unmet need such as HNSCC and colorectal tumors harboring MMR mutations. • Ke
Australia Limited (JPMSAL) (ABN 61 003 245 234/AFS Licence No: 238066) is regulated by ASIC and is a Market. Clearing and Settlement Participant of ASX Limited and CHI-X. Taiwan: Securities (Taiwan) Limited is a participant of the Taiwan Stock Exchange (company-type) and regulated by the Taiwan Securities
Entities connected to both Merck and ASX Limited

Bloomberg L.P.
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JPMorgan Chase
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Donald Trump
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United States
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New Zealand
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Stephen Hawking
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Prince Andrew
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Malaysia
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Eric Trump
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David Cameron
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James Baker
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Condoleezza Rice
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Venezuela
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Frankfurt
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the Financial Services Agency
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