Because of this, and the 45% response rate in advanced NSCLC for patients expressing PD-L1, Merck feels very strongly that it'll be competitive against rival Opdivo in an eventual second-line NSCLC launch. We could repatriate a lot of cash under the right conditions According to one analyst estimate, Merck has $29 billion in cash and cash equivalents, with up to 90% of that sitting in overseas markets. If Merck repatriated this cash it could be required to pay a hefty tax bill.