Merck's Progress in Critical Growth Areas Increases Valuation

Forbes reports that it has upgraded Merck’s (NYSE:MRK) valuation on the basis of its success in two key areas, Hepatitis C and Immuno-Oncology. It estimates Merck’s price at $63.30, implying a 10% premium over the market price.
According to the article:

We have previously stated that a successful launch of hepatitis C drug and additional approvals for Keytruda are likely to be key catalysts for Merck’s stock. At this point, it appears that Merck will get some incremental profits from the potential approval of a combination therapy for Hepatitis C and the approval of Keytruda for lung cancer treatment.
A combination therapy for Hepatitis C (grazoprevir and elbasvir) filed by Merck is up for FDA review. The treatment has demonstrated impressive cure rates for genotypes 1, 4 and 6 of the disease. […] Additionally, Merck’s immuno-oncology drug Keytruda has received priority review from the FDA for non-small cell lung cancer. If approved, the drug can significantly expand its target market over the course of next year

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