Merck, Ridgeback: U.S. to Buy 1.4 Million Additional Covid-19 Pill Courses for $1.4 Billion
09 November 2021 - 10:49PM
Dow Jones News
By Colin Kellaher
Merck & Co. and Ridgeback Biotherapeutics on Tuesday said
the U.S. government is exercising two options to buy a total of 1.4
million additional courses of their molnupiravir Covid-19 drug for
about $1 billion.
The companies said the order is subject to U.S. Food and Drug
Administration emergency-use approval of the pill, which can be
taken at home and has been shown to reduce death and
hospitalization in higher-risk patients.
The FDA is currently reviewing molnupiravir, and experts who
advise the agency are scheduled to meet later this month, which
could set up the drug's U.S. authorization by the end of the
year.
Merck and Ridgeback said the U.S. government has now committed
to buy roughly 3.1 million courses of molnupiravir, for around $2.2
billion, for delivery between authorization and early 2022. The
U.S. also holds options to buy more than two million additional
courses.
The U.K. last week became the first country to authorize use of
the pill. Merck has said it plans to produce 10 million courses of
the treatment by the end of this year, and at least 20 million in
2022.
-Jared S. Hopkins contributed to this article
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 09, 2021 06:34 ET (11:34 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Merck (NYSE:MRK)
Historical Stock Chart
From Apr 2024 to May 2024
Merck (NYSE:MRK)
Historical Stock Chart
From May 2023 to May 2024