Merck & Co makes huge gains on molnupiravir breakthrough in COVID-19
Results on Merck & Co (NYSE: MRK) and Ridgeback Biotherapeutics’ molnupiravir massively impacted not just the share price of the US pharma giant and its competitors on Friday, but could also have a significant effect on the COVID-19 pandemic itself.
Merck’s shares closed nearly 10% higher on Friday after the announcement of interim Phase III results, which showed that the investigational antiviral pill significantly reduced the risk of hospitalization or death in at risk, non-hospitalized adult patients with mild-to-moderate COVID-19.
"Antiviral treatments that can be taken at home to keep people with COVID-19 out of the hospital are critically needed"
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