03:09 PM EDT, 03/27/2024 (MT Newswires) -- Merck's ( MRK ) Winrevair is poised for a strong launch after the US Food and Drug Administration approved the medicine with a clean label and no significant warning or risk evaluation and mitigation strategy program, UBS said in a note emailed Wednesday.

Noting that concerns of potential gastrointestinal bleeding as a result of the medicine were "overblown," the firm said it expected Wall Street to update the consensus estimate for the drug's sales. UBS itself is forecasting sales of $650 million in 2024 against the consensus forecast of $462 million.

The firm reiterated its buy rating on the company's stock with a price target of $148.

Merck ( MRK ) shares were up 5.1% in recent Wednesday trading.

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