Merck Cuts a Billion-Dollar COVID Deal
If Merck's (NYSE: MRK) and co-developer Ridgeback Biotherapeutics' clinical-stage COVID-19 drug molnupiravir secures Food and Drug Administration approval, the U.S. government has agreed to purchase 1.7 billion doses at a cost of $1.2 billion.
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The billion-dollar COVID supply deal follows in the footsteps of previous agreements between the U.S. and drugmakers developing vaccines and treatments targeting the coronavirus. In January, the U.S. Department of Health and Human Services and the Department of Defense agreed to spend up to $2.625 billion for all of the finished doses of Regeneron Pharmaceutical's (NASDAQ: REGN) infused, antiviral cocktail by June 30.
Source Fool.com
