Merck

Merck (MRK) has two under-the-radar phase III catalysts due before year-end that carry low investor

Analysts were keen to see a new modality compete with Roche's approved drug Lucentis in the late-stage trial but new safety issues could complicate the future for Merck's candidate.

A medicine acquired in a $1.3 billion buyout came through in the first of two pivotal studies in diabetic macular edema, though language regarding the drug's safety stirred debate among analysts.

Both Amgen and Merck write quarterly checks and raise them every year, but only one has the portfolio depth to keep growing that payout through the next brutal round of patent expirations. The answer may surprise investors who have been watching Merck's b