Merck Shares Jump in Premarket Trade on Covid-19 Pill Study
October 01 2021 - 9:28AM
Dow Jones News
By Colin Kellaher
Shares of Merck & Co. rose more than 8% in premarket trading
Friday after the drugmaker said the experimental pill it is
developing with Ridgeback Biotherapeutics reduced the risk of
hospitalization or death by about 50% compared to a placebo in
patients with mild or moderate Covid-19.
The Kenilworth, N.J., company said it plans to file for
emergency-use authorization from the U.S. Food and Drug
Administration as soon as possible.
Approval would make the drug, called molnupiravir, the
pandemic's first easy-to-use, at-home treatment.
Merck shares, which closed Thursday at $75.11, were recently up
8.2% to $81.30 in premarket trading, near their 52-week high of
$81.52 reached in January.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 01, 2021 09:13 ET (13:13 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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