The Food and Drug Administration (FDA) had made changes to its prescribing information for Keytruda that raised safety concerns among many investors who worried that sales would be affected by these changes as they could potentially limit usage of the drug or result in stricter regulations being imposed on it going forward. In addition, some analysts felt Merck & Co.’s pipeline lacked sufficient innovation in comparison to other companies such as Pfizer Inc., which indicates that future growth may not match up with current estimates.
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