Merck, AbbVie slip after Reuters reports US House panel probing China clinical trials

Merck & Co

Yesterday 13:27

Updates
** Shares of Merck MRK.N fall 1.6% to $127.36 premarket, AbbVie ABBV.N shares marginally down at $253
** A U.S. House committee has launched investigations into Merck and AbbVie over their clinical trials in China, including sites in Xinjiang and Chinese military-affiliated hospitals, Reuters reports, citing letters 
** Lawmakers ask the companies to provide details on trial oversight, patient protections, data security and due diligence by July 17
** Merck says patient safety and ethical integrity are priorities of its clinical research program and that it follows all global guidelines; AbbVie declines to comment
** Committee says there is no evidence of wrongdoing, but warns that trials in China may pose ethical concerns and risks of sensitive biotechnology knowledge reaching the Chinese military
** Separately, Endpoints News reports that Bristol Myers Squibb BMY.N and Pfizer PFE.N also received letters regarding clinical trial sites in China; PFE up marginally while BMY down marginally

    ** Eli Lilly LLY.N also received a letter regarding clinical trials conducted in China, per CNBC; LLY shares up marginally

    ** Bristol Myers Squibb, Pfizer and Eli Lilly did not immediately respond to Reuters' requests for comment
  
** YTD, MRK up 22.9%, ABBV up 11.3%, LLY up 14.5%, BMY up 8.6%, PFE down 2.1%, as of last close

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))