Merck's update on molnupiravir hits share price

Shares in Merck & Co (NYSE: MRK) were 3% down at lunchtime Friday after the company and its partner Ridgeback Biotherapeutics provided an update on the MOVe-OUT study of molnupiravir, an investigational oral antiviral medicine for COVID-19.

Data are now available from all 1,433 enrolled participants. In this study population, molnupiravir reduced the risk of hospitalization or death from 9.7% in the placebo group to 6.8% in the molnupiravir group, for an absolute risk reduction of 3% and a relative risk reduction of 30%.

There were nine deaths reported in the placebo group, and one in the molnupiravir group.