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Merck could still be a winning stock, despite the pharmaceutical company’s recent move to reprice one of its medications, Virtus Investment Partners chief market strategist Joe Terranova told CNBC’s ” Halftime Report ” on Monday. Terranova suggested he is still bullish on the stock, even after the firm agreed last year to reduce the price of diabetes medication Januvia to $100 from $330 for patients using the TrumpRx platform. “I believe in Merck,” Terranova said Monday. “They report tomorrow morning, along with Pfizer , [so] we’re going to hear a lot about how the agreements with the president on lowering the cost … [of certain drugs is] affecting them.” MRK 3M mountain Merck shares are up more than 30% over the past three months. Wall Street analysts predict Merck will earn $2.01 per share on revenue of $16.2 billion in the fourth quarter, according to FactSet data. Merck’s stock has had a solid run, popping roughly 32% over the past three months. That’s despite the pressure on drug prices, which have raised questions about its valuation. Also talks to acquire biotech firm Revolution Medicines fell apart last month, per The Wall Street Journal . Terranova said he had been adding other biotech and pharmaceutical names to the firm’s portfolio, including Gilead Science , Eli Lilly and Regeneron as the sector gains ground. The S & P 500 Health Care index has added 8% over the past three months.
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