Drugmaker Merck & Co on Monday said it will end development of its two COVID-19 vaccines, and will focus pandemic research on treatments, with initial efficacy data on an experimental oral antiviral expected by the end of March.
The Kenilworth, New Jersey, company on Tuesday reported a profit of $1.16 per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $1.74 per share.
The Wall Street Journal is reporting that Merck & Co. has begun testing one of its experimental Covid-19 vaccine candidates in healthy volunteers.
The offer of $20 per share for ArQule is more than double its closing price on Friday.