Merck Setback Limits Study of Covid Pill to Milder Disease
Bloomberg 5 hrs ago Riley Griffin and Cynthia Koons
(Bloomberg) Merck & Co. halted development of two experimental drugs for patients hospitalized with Covid-19 and began a final trial of one of them, its highly anticipated antiviral pill, for people with milder disease after getting mixed results about the medicine’s benefits.
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The pill known as molnupiravir reduced virus levels in patients during a mid-stage study but didn’t show a meaningful benefit in preventing hospitalizations and deaths, the Kenilworth, New Jersey-based company said in a statement. It decided to discontinue its development for the sickest patients, those hospitalized with the infection, after the trial showed it was unlikely to help them.
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Merck to buy Cambridge autoimmune drug developer Pandion for $1.85 billion
By Eric Pfanner Bloomberg,Updated February 25, 2021, 8:42 a.m.
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The Merck corporate headquarters in New Jersey.Seth Wenig/Associated Press/File 2018
(Bloomberg) Merck & Co. agreed to acquire Pandion Therapeutics Inc., a biotechnology company developing therapies for autoimmune diseases, for $1.85 billion.
The agreement, worth $60 per share in cash, is at more than double the Cambridge, Massachusetts-based companyâs closing price Wednesday.
Pandionâs potential treatment for ulcerative colitis and other autoimmune diseases, known as PT101, has completed a Phase 1a clinical trial that achieved its primary objective of safety and tolerability, the companies said in a statement.