Emma Asma Cornwall
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Emma Asma Cornwall in Gainers & Losers,

Merck shares are poised to rise

Noone likes to be in the courtroom... Gilead Sciences and Merck are in the midst oflegal battle over sofosbuvir patents. Merck claims Gilead is infringing on its intellectual property and owes it 10% of the $31.7B it has made to date on the hepatitis C med. Gilead of course disagrees with Merck's assertion saying sofosbuvir was invented by Pharmasset, which it acquired in 2011 for $11B.

Last month a judge ruled that Gilead's Sovaldi and Harvoni do, indeed, infringe on Merck's patents. Now a jury will decide if they remain valid and how much Gilead owes to the firm. Looks like Merck will have some good news from the court!

From technical point of view, the triangle on daily chart was broken upwards, and Merck shares are poised to rise further