With regard to why the strength in a period of no news, and with due regard to the excellent fundamentals outlined by TTC, I think the current "rally" is due to an expectation that the Appendix 4C will show some decent receipts from product sales. Always happens with speccy pharma companies just as it happens for mining/exploration companies with their quarterly reports.
With what they stated in the Merck announcement of 14 July, they have tried to set very modest expectations and I am hoping the market is not expecting too much otherwise it will get sold off just like on 14 July.
in a period of no news, page-23
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