EFTA01412968Set 10
2015-09-046p480w
Subject: RE: Hedged MRK [C]
From: Vahe Stepanian
Date: Fri, 04 Sep 2015 09:45:28 -0400
To: Richard Kahn
Daniel Sabba
Cc: jeffrey E. ,
Paul Morris <
Todd Stevens
Stewart ... Oldfield ,
Ariane Dwyer
Classification: Confidential
Jeffrey / Rich — updated levels:
MRK Puts
MRK Ref = $52.07
Expiry: November 2015
Strike
Bid
Ask
47.50
1.08
1.25
50.00
1.76
EFTA01412968
1.93
Expiry: April ... Paul Morris; Todd Stevens; Stewart Oldfield; Vahe Stepanian;
Ariane Dwyer
Subject: Re: Hedged MRK [C]
EFTA01412969
Merck 52.07 this am. Can you please refresh pricing on November and April
puts
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01412968.pdf
EFTA01203922Set 9
2015-09-044p624w
jecvacation@gmail.corn>, Paul Morris , Todd Stevens
<1 , Stewart Oldfield Ariane Dwyer
Subject: RE: Hedged MRK [C]
Date: Fri, 04 Sep 2015 13:45:28 +0000
Inline-Images: Unage001.jpg; Unage003.jpg; Unage004.jpg
Classification ... Confidential
Jeffrey / Rich — updated levels:
MRK Puts
MRK Ref = $52.07
Expiry: November 2015
Strike Bid Ask
47.50 1.08 1.25
50.00 1.76 1.93
Expiry: April 2016
Strike ... Paul Morris; Todd Stevens; Stewart Oldfield; Vahe Stepanian; Ariane Dwyer
Subject: Re: Hedged MRK [C]
Merck 52.07 this am. Can you please refresh pricing on November and April puts. Thank
https://www.justice.gov/epstein/files/DataSet%209/EFTA01203922.pdf
EFTA01423191Set 10
2015-09-034p374w
Subject: RE: Hedged MRK [C]
From: Daniel Sabba
Date: Thu, 03 Sep 2015 13:37:51 -0400
To: Stewart Oldfield ‹ >
Classification: Confidential
You would think. But mentioned he wanted ... Sent: Thursday, September 03, 2015 1:28 PM
To: Daniel Sabba
Subject: RE: Hedged MRK [C]
Classification: Confidential
Is it more efficient to just buy calls?
From: Daniel Sabba
Sent ... Paul Morris; Todd Stevens; Stewart Oldfield; Vahe Stepanian; Ariane
Dwyer; 'Richard Kahn'
Subject: Hedged MRK [C]
Classification: Confidential
Jeffrey- please see below as a follow up to yesterday's chat
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01423191.pdf
EFTA01203713Set 9
2015-09-043p518w
eevacation@gmail.com>, Paul Morris , Todd Stevens
, Stewart Oldfield , Vahe Stepanian
, Ariane Dwyer
Subject: Re: Hedged MRK [C]
Date: Fri, 04 Sep 2015 13:39:32 +0000
Inline-Images: image009.jpg; image01Ljpg; image002.jpg ... Confidential
Jeffrey- please see below as a follow up to yesterday's chat on MRK.
Note that MRK reached its 52wk low of $51.17/sh. last Tuesday (8/25 ... included levels for —10% OTM listed puts, both 3m and 6m tenors.
MRK Puts
MRK Ref = $53.44
Expiry: November 2015
Strike Bid Ask
47.50 0.83 0.85
50.00 1.31 1.37
Expiry
https://www.justice.gov/epstein/files/DataSet%209/EFTA01203713.pdf
EFTA01200980Set 9
2015-09-034p525w
Paul Morris < Todd Stevens , Stewart
Oldfield , Vahe Stepanian , Ariane
Dwyer > "'Richard Kahn"'
Subject: Hedged MRK [C]
Date: Thu, 03 Sep 2015 16:49:58 +0000
Inline-Images: image002.jpg; image007.jpg; image009.jpg ... Confidential
Jeffrey- please see below as a follow up to yesterday's chat on MRK.
Note that MRK reached its 52wk low of $51.17/sh. last Tuesday (8/25 ... included levels for - 10% OTM listed puts, both 3m and 6m tenors.
MRK Puts
MRK Ref = $53.44
Expiry: November 2015
Strike Bid Ask
47.50 0.83 0.85
50.00 1.31 1.37
Expiry
https://www.justice.gov/epstein/files/DataSet%209/EFTA01200980.pdf
EFTA00306883Set 9
2014-06-027p4,747w
J.P.Morgan North America Equity Research
O2 June 2014
Overweight
Merck & Co., Inc. MRK, MRK US
Price: $57.93
Pushing Ahead Aggressively in PD-1 Development
Price Target: $64.00
We attended Merck ... based on phase II/III study in 2/3L PD-L1+ patients).
Merck 8 Co., Inc. (MRK;MRK US)
EYE Dec 2O13A 2O14E 2015E 2O16E 2017E Company Data
EPS - Recurring ($) Pike ... increased
focus translating into better performance for the company and the stock. We see
MRK shares as well positioned for multiple expansion with the company offering
healthy earnings growth
https://www.justice.gov/epstein/files/DataSet%209/EFTA00306883.pdf
EFTA00847263Set 9
2015-09-022p426w
From: Richard Kahn
To: Jeffrey Epstein leevacation@gmail.com>
Subject: Mrk
Date: Wed, 02 Sep 2015 10:52:53 +0000
PivIRK Chart
MRK data by YCharts
4. Merck & Co. (MRK)
Credit Suisse ... Rating, Target Price: Neutral, S61
Potential Stock Upside: 11%
Upcoming Catalyst: MRK's Januvia franchise will likely feel pressure from the positive EMPA-REG
OUTCOME data but we expect MRK ... TheStreet
Ratings Team has this to say about their recommendation:
"We rate MERCK & CO (MRK) a BUY. This is driven by several positive factors, which we believe should have
https://www.justice.gov/epstein/files/DataSet%209/EFTA00847263.pdf
EFTA00598930Set 9
2015-10-025p4,184w
month OS rate of 55-60%. Further, although the data are immature MRK. MRK US
the survival benefit seen was similar to the OS rates for Opdivo in high Ovenveighl ... Merck 8 Co.. inc. (MRK. MRK US) Price Chart
Date Rating Share Price Price Target ... International PLC (ENDP), Impax Laboratories (IPXL), Kythera Biopharmaceuticals
(KYTH), Mallinckrodt (MNK), Merck & Co., Inc. (MRK), Mylan Inc. (MYL), Perrigo Company (PRGO), Pfizer Inc. (PFE), Sagent
Pharmaceuticals (SGNT), Teva Pharmaceuticals (TEVA
https://www.justice.gov/epstein/files/DataSet%209/EFTA00598930.pdf
EFTA02400583Set 11
2013-02-132p446w
ocus list. I think we should consider a Market Plus Note on MRK (Overwei=ht with a
$52 price target)
- =nbsp; 18 mo=th
=OD Greater of the upside ... nbsp; Pullback presents opportunity in a favored sector (the cheapest d=fensive sector)
— </=pan>MRK is down -14% over last 4 months ... provide catalysts and higher EPS growth po=ential
than peers
— MRK has a solid pipeline beyond =danacatib (suvorexant - insomnia, anacetrapib - cholesterol, PD-1-oncolog=,
BACE - Alzheimers) as well as healthy
https://www.justice.gov/epstein/files/DataSet%2011/EFTA02400583.pdf
EFTA01272300Set 10
2012-02-29187p85,404w
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https://www.justice.gov/epstein/files/DataSet%2010/EFTA01272300.pdf
EFTA00847261Set 9
2015-09-022p482w
From: Richard Kahn
To: "Jeffrey E." <jeevacation@grnail.com>
Subject: Re: MRK
Date: Wed, 02 Sep 2015 10:28:48 +0000
Shall I ask Daniel for Merck structured note ideas with ... Barrett, Paul S 4
Date: Tue, Sep 1, 2015 at 2:29 PM
Subject: MRK
To: Brad Wechsler
Cc: "Rich Joslin , "Jeffrey Epstein (jeevacation®gmail.com)"
leevacation@gmail.com>, Barrett Team
Brad ... structured note on Merck. We like the name and would
recommend investing $500k.
MRK is down 11% since August 17th and now trades at 15x PIE. We think the pullback
https://www.justice.gov/epstein/files/DataSet%209/EFTA00847261.pdf
EFTA00847301Set 9
2015-09-012p455w
From: "Jeffrey E." <jeevacation@grnail.com>
To: Richard Kahn
Subject: Fwd: MRK
Date: Tue, 01 Sep 2015 19:59:12 +0000
Forwarded message
From: Barrett, Paul S 4
Date ... Subject: MRK
To: Brad Wechsler
Cc: "Rich Joslin "Jeffrey Epstein (jeevacation@gmail.com)"
leevacation@gmail com>, Barrett Team
Brad
I sent over an email with the indicative terms for a structured note ... Merck. We like the name and would
recommend investing $500k.
MRK is down 11% since August 17th and now trades at 15x PIE. We think the pullback offers an interesting
https://www.justice.gov/epstein/files/DataSet%209/EFTA00847301.pdf