https://finance.yahoo.com/news/merck-mrk-signs-1-2b-140502632.html
Zacks Equity Research
Thu, June 10, 2021, 10:05 PM·3 min read
Merck MRK announced that it has signed a procurement agreement with the United States government for its COVID-19 therapeutic candidate, molnupiravir (MK-4482). Per the agreement, the government will purchase 1.7 million courses of the candidate for approximately $1.2 billion, if the drug is granted Emergency Use Authorization or approval from the FDA.
Merck is developing molnupiravir in partnership with Ridgeback Biotherapeutics in a phase III study for the treatment of non-hospitalized patients with confirmed COVID-19. Merck is currently developing molnupiravir as an oral treatment for outpatients with COVID-19 in a phase III study — MOVe-OUT.
Following the agreement news, shares of Merck gained 2.3% on Wednesday. However, the company’s shares have declined 9.6% so far this year against the industry’s 5.8% increase.
Merck (MRK) Signs $1.2B Deal With US for COVID-19 Therapeutic
Zacks Equity Research
Thu, June 10, 2021, 10:05 PM·3 min read
Merck MRK announced that it has signed a procurement agreement with the United States government for its COVID-19 therapeutic candidate, molnupiravir (MK-4482). Per the agreement, the government will purchase 1.7 million courses of the candidate for approximately $1.2 billion, if the drug is granted Emergency Use Authorization or approval from the FDA.
Merck is developing molnupiravir in partnership with Ridgeback Biotherapeutics in a phase III study for the treatment of non-hospitalized patients with confirmed COVID-19. Merck is currently developing molnupiravir as an oral treatment for outpatients with COVID-19 in a phase III study — MOVe-OUT.
Following the agreement news, shares of Merck gained 2.3% on Wednesday. However, the company’s shares have declined 9.6% so far this year against the industry’s 5.8% increase.