Early Bird Prime for February 15, 2026

Merck & Co $MRK ( ▲ 1.82% ) is the pharmaceutical giant that has been the apple of many investors' eyes, especially after its stock soared 46.26% in the past year. The stock is approaching an all-time high.

The secret sauce behind Merck's recent success? Keytruda, the superhero of oncology drugs, swoops in to save the day (and the company's bottom line). With over 1,600 clinical trials under its belt, Keytruda is versatile, reliable, and always in high demand. It's been a cash cow for Merck, but like all good things, its exclusivity is set to expire in the late 2020s. So, is Merck's current high just a sugar rush before the inevitable crash?

Enter The Alpha Analyst, who recently downgraded Merck's stock. Their reasoning? The best days might be behind Merck, and it's no longer the value play it once was.

With Keytruda accounting for nearly half of Merck's revenue, the company is like a one-hit wonder that needs to prove it can produce another chart-topper before the music stops.

Adding to the drama, the looming U.S. patent expiry for Keytruda in 2028 is like a ticking time bomb. Merck's entire narrative hinges on its ability to replace this concentrated revenue stream.

And let's not forget the Inflation Reduction Act, which has price controls for medicine. There are also Medicare negotiations that are threatening to slash prices on key drugs.

Should you buy Merck's stock right now in 2026, or should you avoid it? Here’s the answer…