6/9/2021, 1:04 PM (Source: TeleTrader)
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Chart for: MERCK KGAA O.N.

Merck, US govt sign deal on oral COVID treatment

Merck & Co., Inc. announced on Wednesday that it has signed a deal with the United States government for the supply of its oral COVID-19 treatment candidate called Molnupiravir. The drug is meant to be used as a treatment for mild-to-moderate COVID cases.

The government committed to acquiring approximately 1.7 million courses of Molnupiravir once the drug has gotten Emergency Use Authorization from the country's Food and Drug Administration, according to the statement. The COVID treatment candidate is currently in phase 3 of its clinical trial.

"Merck is pleased to collaborate with the US government on this new agreement that will provide Americans with COVID-19 access to molnupiravir – an investigational oral therapy being studied for outpatient use early in the course of disease – if it is authorized or approved," said Merck President Rob Davis.

Merck's stocks rose slightly in the premarket, gaining 0.66% after the release of the news.

Baha Breaking the News (BBN) / BU