Why Merck Shares Are Surging Higher Today

Merck & Co Inc MRK is trading higher Friday after the company and Ridgeback announced investigational oral antiviral molnupiravir reduced risk of hospitalization or death by about 50% versus the placebo for patients with mild to moderate COVID-19 in Phase 3 interim analysis.

Merck said it plans to submit an application for Emergency Use Authorization to the U.S. FDA as soon as possible based on these findings and plans to submit marketing applications to other regulatory bodies worldwide.

With these compelling results, we are optimistic that molnupiravir can become an important medicine as part of the global effort to fight the pandemic and will add to Merck’s unique legacy of bringing forward breakthroughs in infectious diseases when they are needed most," said Robert Davis, president and CEO of Merck.

Davis continued, "Consistent with Merck’s unwavering commitment to save and improve lives, we will continue to work with regulatory agencies on our applications and do everything we can to bring molnupiravir to patients as quickly as possible.”

Related Link: Merck COVID-19 Oral Antiviral Cuts Risk of Hospitalization, Death By 50%

Merck makes pharmaceutical products to treat several conditions in a number of therapeutic areas, including cardiometabolic disease, cancer and infections.

MRK Price Action: Merck has traded as high as $85.60 and as low as $15.32 over a 52-week period.

The stock was up 8.37% at $81.40 at time of publication.

Photo: courtesy of Merck.