Competitor licensing deal caused Viking Therapeutics stock to drop over 10% this week.

From Nasdaq: 2024-12-20 18:32:30

Viking Therapeutics stock took a hit this week after a licensing deal by a competitor caused a 10% drop in share price. Merck announced an exclusive worldwide licensing agreement for a GLP-1 obesity drug developed by Chinese biotech Hansoh Pharma. Merck will pay $112 million upfront with potential milestone payments totaling $1.9 billion, plus royalties. Viking is developing its own promising obesity treatment, VK2735, but may face tough competition from Merck. Stock Advisor analysts recommend 10 other stocks over Viking Therapeutics for potential high returns.



Read more at Nasdaq: Why Viking Therapeutics Tumbled by More Than 10% This Week