Merck Q1 2023 Report Shows Revenue Drop as COVID Treatment Sales Crash, MRK Stock Down 1%
Affected by reduced demand for Covid drug Molnupiravir, Merck has published reduced revenue figures according to its Q1 2023 report.
A group of new companies have joined the newly formed consortium to collectively work on the development of enterprise grade ethereum-based solutions.
Affected by reduced demand for Covid drug Molnupiravir, Merck has published reduced revenue figures according to its Q1 2023 report.
With the second phase concluded, the Phase 3 melanoma trial will begin soon.
The regulatory concerns associated with the potential deal between Merck and Seagen may attract antitrust scrutiny from regulators.
Following the approval of the Molnupiravir Covid-19 pill by the UK medicine regulator, Merck said it is on track to deliver as many as 10 million courses by the end of this year.
Merck is seeking authorization for emergency use of molnupiravir, an oral administration for early-stage COVID-19 patients. It is in talks with regulators worldwide.
Rising bond yields continue to pressure on tech stocks with Nasdaq Composite correcting another 2%. On the other hand, energy stocks gained momentum amid optimism of economic reopening.
The company plans to apply for Emergency Use Authorization (EUA) with the US FDA based on the findings of the trial and there are also plans to submit marketing applications to other regulatory bodies worldwide.
The US Stock indices headed to the south on Tuesday on declining retail sales data for the month of July 2021.
Merck has a reported market valuation of approximately $204.88 billion with 2.53 billion outstanding shares. The company’s leadership has opted to commit its resources towards developing coronavirus therapy drugs.
The deal with OncoImmune will see Merck take up the ownership of CD24Fc with additional payment made to OncoImmune based on future favorable regulatory approvals associated with the drug.