Category: 3. Business

  • 17 leading school systems face CCP action for forcing parents to buy overpriced branded supplies

    17 leading school systems face CCP action for forcing parents to buy overpriced branded supplies

    17 school systems face CCP action for forcing parents to buy overpriced branded supplies


    ISLAMABAD:

    The Competition Commission of Pakistan (CCP) has served show-cause notices on 17 leading private school systems for allegedly treating 26 million students as “captive consumers” under a tie-in arrangement by forcing them to buy up to 280% more expensive logo-bearing stationery and uniforms.

    The 17 schools are found to be engaged in tie-in practices by way of mandatory use of logo-bearing notebooks, workbooks and school uniform, according to an inquiry report released by the CCP on Friday.

    The CCP issued the show-cause notices to schools for allegedly abusing their dominant position by forcing parents to purchase expensive, logo-branded notebooks, workbooks and uniforms exclusively from school-authorised vendors, said a statement issued by the commission. The action has been taken to safeguard millions of school-going children and their families from unfair pricing practices, it added.

    The report revealed that these schools, having a total of 25.5 million enrollments that comprise 47% of total students in Pakistan, were selling stationery at prices higher by 53% to 280% than market prices.

    “The school systems under scrutiny include Beaconhouse School, the City School, Headstart, Lahore Grammar School, Froebel’s, Roots International, Roots Millennium, KIPS, Allied Schools, SuperNova, Dar-e-Arqam, STEP School, Westminster International, United Charter School and The Smart School, among others,” it said.

    These school networks operate hundreds of campuses nationwide and educate millions of students, giving them considerable influence over enrolled families, said the antitrust watchdog. The buyer is forced to purchase the tied product.

    The inquiry report stated that the schools have adopted the practice of printing their logo-bearing school supplies and appointed vendors and distributors. The exclusive vendors and distributors indicate that each school has been engaged in the production, distribution and supply of tied products in the relevant market.

    “Each school has designed its policies in a way that students are compelled to use the tied products,” said the inquiry.

    The CCP said that “there were eight school systems where the difference in quoted prices and prices of notebooks offered by these schools was more than 50%, which increased to 280% in case of some schools”.

    It compared retail prices with general, off-the-shelf notebooks to analyse the additional cost and margins in the supply chain. The analysis revealed price differences ranging from over 50% to 150%.

    The inquiry revealed that parents were mandated to buy logo-bearing notebooks, workbooks, uniforms and other ancillary products from school-authorised outlets. In several instances, schools sold compulsory “study packs” through online portals or designated vendors, with students prohibited from using generic notebooks or uniforms from the open market.

    The report concluded that leading school systems were engaged in tying arrangements, making continued enrollment conditional upon purchasing secondary products such as notebooks and uniforms. Schools appointed exclusive vendors, foreclosing the market for thousands of small stationery and uniform sellers nationwide.

    High switching costs, such as limited school options, substantial transfer fees and transportation constraints left parents with no viable alternative, enabling schools to enforce these practices without resistance. The CCP observed that these practices restricted market access, harmed small retailers and limited consumer choice.

    The CCP has directed the 17 school systems to submit written responses to show-cause notices within 14 days, appear before the commission through duly authorised representatives and explain why penalties should not be imposed.

    The CCP said that under the law, it can impose a penalty of up to 10% of the annual turnover or Rs750 million, whichever is higher, for such violations.

    Commenting on the overall education-sector status, the report underlined that between 2022-23 and 2023-24, student enrolment increased from 56 million to 58.3 million. However, in contrast to this upward trend, the total number of educational institutions declined from 349,909 to 342,547, marking a 2.1% reduction, primarily due to a decrease in private institutions.

    An estimated 25.1 million children between the ages of 5 and 16 are currently not attending school nationwide.

    At the provincial level, Punjab has the highest number of out-of-school children at 9.7 million, or 27% of the total provincial 5-16-year-old population, followed by Sindh with 7.4 million, or 44% of the total provincial 5-16 population. Khyber-Pakhtunkhwa has 4.5 million out-of-school children, or 34% of the provincial 5-16 population and Balochistan has 3.5 million children out of school, or 69% of the total.

    The report stated that as of 2023-24, private schools served 46.5% of Pakistan’s 55 million students, with a significant presence in both urban and rural areas.

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  • Exclusive | Bill Ackman Eyes Simultaneous Public Offerings of Firm and New Fund – The Wall Street Journal

    1. Exclusive | Bill Ackman Eyes Simultaneous Public Offerings of Firm and New Fund  The Wall Street Journal
    2. Bill Ackman plots IPO of hedge fund Pershing Square in early 2026  Financial Times
    3. Bill Ackman Wants To Take His Hedge-Fund Management Company, Pershing Square, Public At The Same Time As A New Closed-End Fund Next Year – WSJ  TradingView
    4. Bill Ackman eyes IPO of hedge fund Pershing in early 2026, FT reports  104.1 WIKY
    5. Bill Ackman’s Pershing Square reportedly planning IPO in early 2026  MSN

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  • World's biggest nuclear plant edges closer to restart – Japan Today

    1. World’s biggest nuclear plant edges closer to restart  Japan Today
    2. Japan edges closer to restarting world’s biggest nuclear power plant Kashiwazaki-Kariwa  BBC
    3. TEPCO set for March nuclear restart, first since Fukushima disaster  Nikkei Asia
    4. Tokyo Electric (TKECF) Secures Key Approval for Nuclear Plant Re  GuruFocus
    5. Niigata governor consents to restart of Kashiwazaki-Kariwa reactors  World Nuclear News

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  • A Fresh Look at SiTime (SITM) Valuation Following Recent Share Price Uptick

    A Fresh Look at SiTime (SITM) Valuation Following Recent Share Price Uptick

    SiTime (SITM) shares have moved slightly higher over the last day, adding almost 6% despite no major news event driving the uptick. The recent trading performance comes after a steady month and strong returns this year.

    See our latest analysis for SiTime.

    SiTime’s 1-day share price return of nearly 6% adds to an already impressive year, with its total shareholder return at 26.9% over the past twelve months and a staggering 203.5% for investors holding since 2019. Although the pace has fluctuated in recent weeks, momentum for the stock remains strong and is attracting attention as optimism around its growth story builds.

    If you’re searching for your next standout idea, now is a great opportunity to broaden your watchlist and discover fast growing stocks with high insider ownership

    With impressive returns and a strong growth trajectory, the vital question now is whether SiTime’s current valuation leaves room for upside, or if the market has already accounted for all its future potential.

    SiTime’s most widely followed narrative places its fair value well above the latest close, suggesting significant untapped upside. This perspective is built on rising expectations for product innovation and robust revenue acceleration.

    Expansion of SiTime’s content per device, particularly through customized clocks and clocking systems for AI, networking, and hyperscale platforms, enables increased dollar content per design win. This directly supports top-line growth and improves gross margins as these higher-ASP products become a greater share of sales.

    Read the complete narrative.

    Curious what’s fueling this bullish stance? The narrative hinges on aggressive assumptions around future sales expansion, margin inflection, and a valuation multiple you don’t usually see outside hyper-growth tech. One tweak to the forecasts and the whole story could shift. Don’t miss the pro-level modeling that underpins this price target.

    Result: Fair Value of $346 (UNDERVALUED)

    Have a read of the narrative in full and understand what’s behind the forecasts.

    However, risks remain, such as SiTime’s reliance on rapidly evolving AI data center demand as well as potential disruptions from innovation cycles or shifting customer dynamics.

    Find out about the key risks to this SiTime narrative.

    Looking at valuation from a price-to-sales perspective, SiTime trades at 24.8 times sales. That is far higher than both the US Semiconductor industry average of 4.2x and the peer average of 7.7x. The fair ratio is estimated at 12.5x, highlighting a substantial premium.

    What does this premium mean for risk and future upside? Could the market be overestimating SiTime’s growth story, or is innovation strong enough to justify this stretch valuation?

    See what the numbers say about this price — find out in our valuation breakdown.

    NasdaqGM:SITM PS Ratio as at Nov 2025

    If you see the story differently or want to dive deeper into the numbers, you can build your own take on SiTime in just a few minutes with Do it your way.

    A great starting point for your SiTime research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.

    Don’t let the best opportunities pass you by. Use the Simply Wall Street Screener now to spot market movers and discover new stocks worth your attention.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

    Companies discussed in this article include SITM.

    Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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  • A dual-domain seasonal hybrid forecasting strategy for PV power considering dynamic uncertain fluctuations

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  • Fed Divisions Show Powell Isn’t the Biggest Hurdle to a Rate Cut – The Wall Street Journal

    1. Fed Divisions Show Powell Isn’t the Biggest Hurdle to a Rate Cut  The Wall Street Journal
    2. Probability of Interest Rate Cut by the Federal Reserve in December Rises to 71.3%  Binance
    3. Week Ahead: Markets on Edge as Fed Uncertainty Fuels Gold & Oil Volatility  VT Markets
    4. Economic Outlook  Federal Reserve Bank of Philadelphia
    5. Fed’s Paulson is ‘cautiously’ approaching December rate decision, she says  Reuters

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  • Trial Data Yield Risk-Based NRSTS Treatment Strategies

    Trial Data Yield Risk-Based NRSTS Treatment Strategies

    A new report affirms that surgical resection is generally sufficient for pediatric patients with low-risk non-rhabdomyosarcoma soft tissue sarcoma (NRSTS) and suggests that patients with completely resected high-risk tumors do not necessarily benefit from adjuvant radiation.

    The findings, which were published in Pediatric Blood & Cancer, were based on findings from 2 trials that were designed to help develop a new risk-stratification system and compare different therapeutic regimens for patients with different risk profiles.1

    Corresponding author Monika Sparber-Sauer, MD, of the Stuttgart Cancer Center, in Germany, and colleagues, wrote that the current standard of care for pediatric NRSTS is based around surgical resection.

    “Primary tumor resection with wide margins in the NRSTS treatment mainstay, and is safe without further adjuvant treatment for low-risk disease,” they wrote.

    In unresectable tumors, neoadjuvant radiotherapy and/or chemotherapy can be used in hopes of facilitating later resection, as these patients have a low chance of a cure, they added. However, they said the role—or lack thereof—of adjuvant chemotherapy or radiotherapy in patients with primarily resected NRSTS remains an open question.

    The new study is based on data from two prospective trials, the CWS-96 and CWS-2002P trials, both of which were designed to limit chemotherapy and radiotherapy by using a risk-based treatment strategy.2,3

    Between the 2 trials, a total of 1,249 patients with localized NRSTS were enrolled (483 in CWS-96 and 445 in CWS-2002P). In the former, patients were risk-stratified based on Intergroup Rhabdomyosarcoma Study (IRS) group, histology, and grade. In the CWS-2002P trial, patients were stratified based on IRS group, lymph node status, tumor histology, and tumor size.

    In both trials, low-risk patients were treated with surgical resection alone. Standard-risk patients in both trials were given hyperfractionated accelerated radiotherapy (HART) by 44.8 Gy. In CWS-96, adjuvant chemotherapy with vincristine, actinomycin-D, ifosfamide, and 160–240 mg/m2 adriamycin (VAIA) was added for high-grade tumors, Sparber-Sauer and colleagues said.

    High-risk patients were given 6 cycles of VAIA in CWS-96 and an intensified adriamycin regimen (VAIA-III, 320 mg/m2 adriamycin) in CWS-2002P, along with delayed resection and/or 44.8 Gy radiotherapy. In some patients in CWS-2002P, maintenance treatment with cyclophosphamide and vinblastine was also given, the authors said.

    Overall, the investigators said patients in the CWS-2002P trial had a superior 5-year overall survival (OS; 81% versus 73%; P = 0.024), which they said was partly a result of the CWS-2002P trial’s inclusion of a greater number of entities like fibromyxoid sarcoma, which have a lower metastatic potential. The investigators added that improvements in surveillance, imaging, and surgical techniques over time also likely affected the outcomes.

    “We found that the IRS group alone was a strong predictor of EFS (event-free survival) and OS; despite incorporating multiple independent risk factors in CWS-2002P—including IRS, histology, lymph node size, and initial tumor size—no refinement to the risk-stratification system was achieved,” they said.

    Though CWS-2002P had improved OS in general, Sparber-Sauer and colleagues said the higher dose of anthracycline used in that trial did not appear to improve survival.

    Furthermore, they said low-risk patients who underwent surgery alone had a 5-year EFS and OS of 82% and 93% across both trials, suggesting that surgery alone is sufficient in most cases.

    “One remaining question is the role of chemotherapy in standard-risk disease,” they said. That’s because while radiotherapy alone was recommended for standard-risk patients in the CWS-2002P trial, in real-world usage clinicians often gave both chemotherapy and radiotherapy, as was the recommendation in the CWS-96 trial. Thus, the authors said, it is not possible to draw clear conclusions.

    Sparber-Sauer and colleagues concluded that in high-risk patients, clinicians should seek out entity-specific clinical trial data whenever possible.

    “Where no clinical trial is available, vincristine and actinomycin-D can be omitted, and the ifosfamide/doxorubicin regimen should be used, preferably with a reduced anthracycline dose in postoperative chemotherapy cycles,” they wrote.

    They added that their finding that high-risk patients undergoing R0 resection have a comparable prognosis to patients with high-risk disease who receive radiation following incomplete resection warrants further investigation.

    References

    1. Heinz AT, Schönstein A, Koscielniak E, et al. Children and Adolescents With Localised Non-Rhabdomyosarcoma Soft Tissue Sarcoma: Results of the CWS-96 and CWS-2002P Prospective Trials With Reclassification of the Trial Data Incorporating the Recent Soft Tissue Sarcoma Registry. Pediatr Blood Cancer. Published online November 11, 2025. doi:10.1002/pbc.32159
    2. Sparber-Sauer M, Ferrari A, Kosztyla D, et al. Long-term results from the multicentric European randomized phase 3 trial CWS/RMS-96 for localized high-risk soft tissue sarcoma in children, adolescents, and young adults. Pediatr Blood Cancer. 2022;69(9):e29691. doi:10.1002/pbc.29691
    3. Koscielniak E, Blank B, Vokuhl C, et al. Long-term clinical outcome and prognostic factors of children and adolescents with localized rhabdomyosarcoma treated on the CWS-2002P protocol. Cancers (Basel). 2022;14(4):899. doi:10.3390/cancers14040899

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  • Merck Recommends Rejection of Tutanota’s “Mini-Tender” Offer

    Merck Recommends Rejection of Tutanota’s “Mini-Tender” Offer

    RAHWAY, N.J., November 22, 2025–(BUSINESS WIRE)–Merck (NYSE: MRK), known as MSD outside the United States and Canada, has been notified that Tutanota LLC (Tutanota) has commenced an unsolicited “mini-tender” offer, dated November 10, 2025, to purchase up to 1,000,000 shares of Merck common stock at $65.00 per share. The offer price is approximately 24.66% below the closing price of Merck common stock on November 7, 2025 ($86.28), the last trading day before the date of the offer, and approximately 31.56% below the closing price of Merck common stock on November 20, 2025 ($94.97), the day prior to this release.

    Merck does not endorse Tutanota’s offer and recommends that Merck shareholders reject the offer and not tender their shares in response to Tutanota’s unsolicited mini-tender offer. This mini-tender offer is at a price below the closing price for Merck’s shares (as of the day prior to this release) and is subject to numerous conditions, including Tutanota’s ability to obtain financing. Merck is not associated in any way with Tutanota, its mini-tender offer or the offer documentation.

    Tutanota has made similar unsolicited mini-tender offers for shares of other publicly traded companies. Mini-tender offers seek to acquire less than 5% of a company’s outstanding shares. This lets the offering company avoid many of the disclosure and procedural requirements the U.S. Securities and Exchange Commission (SEC) requires for tender offers. As a result, mini-tender offers do not provide investors the same level of protections as provided by larger tender offers under U.S. federal securities laws.

    On its website, the SEC advises that the people behind mini-tender offers “frequently use mini-tender offers to catch shareholders off guard” and that investors “may end up selling at below-market prices.” The SEC’s website also contains important tips for investors regarding mini-tender offers.

    Like Tutanota’s other offers, this one puts individual investors at risk because they may not realize they are selling their shares at a discount. Merck urges shareholders to obtain current stock quotes for their shares of Merck common stock, to review the terms and conditions of the offer, to consult with their brokers or financial advisers, and to exercise caution with respect to Tutanota’s mini-tender offer.

    Merck shareholders who have already tendered are advised they may withdraw their shares by following the procedures for withdrawal described in the Tutanota offer documents prior to the expiration of the offer, which is currently scheduled for 5:00 p.m. EST on December 15, 2025.


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  • Merck Recommends Rejection of Tutanota’s “Mini-Tender” Offer

    RAHWAY, N.J.–(BUSINESS WIRE)–
    Merck (NYSE: MRK), known as MSD outside the United States and Canada, has been notified that Tutanota LLC (Tutanota) has commenced an unsolicited “mini-tender” offer, dated November 10, 2025, to purchase up to 1,000,000 shares of Merck common stock at $65.00 per share. The offer price is approximately 24.66% below the closing price of Merck common stock on November 7, 2025 ($86.28), the last trading day before the date of the offer, and approximately 31.56% below the closing price of Merck common stock on November 20, 2025 ($94.97), the day prior to this release.

    Merck does not endorse Tutanota’s offer and recommends that Merck shareholders reject the offer and not tender their shares in response to Tutanota’s unsolicited mini-tender offer. This mini-tender offer is at a price below the closing price for Merck’s shares (as of the day prior to this release) and is subject to numerous conditions, including Tutanota’s ability to obtain financing. Merck is not associated in any way with Tutanota, its mini-tender offer or the offer documentation.

    Tutanota has made similar unsolicited mini-tender offers for shares of other publicly traded companies. Mini-tender offers seek to acquire less than 5% of a company’s outstanding shares. This lets the offering company avoid many of the disclosure and procedural requirements the U.S. Securities and Exchange Commission (SEC) requires for tender offers. As a result, mini-tender offers do not provide investors the same level of protections as provided by larger tender offers under U.S. federal securities laws.

    On its website, the SEC advises that the people behind mini-tender offers “frequently use mini-tender offers to catch shareholders off guard” and that investors “may end up selling at below-market prices.” The SEC’s website also contains important tips for investors regarding mini-tender offers.

    Like Tutanota’s other offers, this one puts individual investors at risk because they may not realize they are selling their shares at a discount. Merck urges shareholders to obtain current stock quotes for their shares of Merck common stock, to review the terms and conditions of the offer, to consult with their brokers or financial advisers, and to exercise caution with respect to Tutanota’s mini-tender offer.

    Merck shareholders who have already tendered are advised they may withdraw their shares by following the procedures for withdrawal described in the Tutanota offer documents prior to the expiration of the offer, which is currently scheduled for 5:00 p.m. EST on December 15, 2025.

    Merck encourages brokers, dealers, and other investors to review the SEC’s letter regarding broker-dealer mini-tender offer dissemination and disclosure.

    Merck requests that a copy of this news release be included with all distribution of materials related to Tutanota’s offer for shares of Merck common stock.

    About Merck

    At Merck, known as MSD outside of the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. For more than 130 years, we have brought hope to humanity through the development of important medicines and vaccines. We aspire to be the premier research-intensive biopharmaceutical company in the world – and today, we are at the forefront of research to deliver innovative health solutions that advance the prevention and treatment of diseases in people and animals. We foster a diverse and inclusive global workforce and operate responsibly every day to enable a safe, sustainable and healthy future for all people and communities. For more information, visit www.merck.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.

    Forward-Looking Statement of Merck & Co., Inc., Rahway, N.J., USA

    This news release of Merck & Co., Inc., Rahway, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.

    Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.

    The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s Annual Report on Form 10-K for the year ended December 31, 2024 and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).


    Source: Merck & Co., Inc., Rahway, NJ, USA


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  • Merck Recommends Rejection of Tutanota’s “Mini-Tender” Offer

    RAHWAY, N.J.–(BUSINESS WIRE)–
    Merck (NYSE: MRK), known as MSD outside the United States and Canada, has been notified that Tutanota LLC (Tutanota) has commenced an unsolicited “mini-tender” offer, dated November 10, 2025, to purchase up to 1,000,000 shares of Merck common stock at $65.00 per share. The offer price is approximately 24.66% below the closing price of Merck common stock on November 7, 2025 ($86.28), the last trading day before the date of the offer, and approximately 31.56% below the closing price of Merck common stock on November 20, 2025 ($94.97), the day prior to this release.

    Merck does not endorse Tutanota’s offer and recommends that Merck shareholders reject the offer and not tender their shares in response to Tutanota’s unsolicited mini-tender offer. This mini-tender offer is at a price below the closing price for Merck’s shares (as of the day prior to this release) and is subject to numerous conditions, including Tutanota’s ability to obtain financing. Merck is not associated in any way with Tutanota, its mini-tender offer or the offer documentation.

    Tutanota has made similar unsolicited mini-tender offers for shares of other publicly traded companies. Mini-tender offers seek to acquire less than 5% of a company’s outstanding shares. This lets the offering company avoid many of the disclosure and procedural requirements the U.S. Securities and Exchange Commission (SEC) requires for tender offers. As a result, mini-tender offers do not provide investors the same level of protections as provided by larger tender offers under U.S. federal securities laws.

    On its website, the SEC advises that the people behind mini-tender offers “frequently use mini-tender offers to catch shareholders off guard” and that investors “may end up selling at below-market prices.” The SEC’s website also contains important tips for investors regarding mini-tender offers.

    Like Tutanota’s other offers, this one puts individual investors at risk because they may not realize they are selling their shares at a discount. Merck urges shareholders to obtain current stock quotes for their shares of Merck common stock, to review the terms and conditions of the offer, to consult with their brokers or financial advisers, and to exercise caution with respect to Tutanota’s mini-tender offer.

    Merck shareholders who have already tendered are advised they may withdraw their shares by following the procedures for withdrawal described in the Tutanota offer documents prior to the expiration of the offer, which is currently scheduled for 5:00 p.m. EST on December 15, 2025.

    Merck encourages brokers, dealers, and other investors to review the SEC’s letter regarding broker-dealer mini-tender offer dissemination and disclosure.

    Merck requests that a copy of this news release be included with all distribution of materials related to Tutanota’s offer for shares of Merck common stock.

    About Merck

    At Merck, known as MSD outside of the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. For more than 130 years, we have brought hope to humanity through the development of important medicines and vaccines. We aspire to be the premier research-intensive biopharmaceutical company in the world – and today, we are at the forefront of research to deliver innovative health solutions that advance the prevention and treatment of diseases in people and animals. We foster a diverse and inclusive global workforce and operate responsibly every day to enable a safe, sustainable and healthy future for all people and communities. For more information, visit www.merck.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.

    Forward-Looking Statement of Merck & Co., Inc., Rahway, N.J., USA

    This news release of Merck & Co., Inc., Rahway, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.

    Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.

    The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s Annual Report on Form 10-K for the year ended December 31, 2024 and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).


    Source: Merck & Co., Inc., Rahway, NJ, USA


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