Merck Collaborates With U.S. Government To Advance Investigational Biological Therapy For COVID-19

(RTTNews) - Merck (MRK) has entered into an agreement with the U.S. Government to support the development, manufacture and initial distribution of an investigational biological therapeutic, to be named MK-7110, upon approval or Emergency Use Authorization from the FDA. Merck will receive up to approximately $356 million for manufacturing and supply of approximately 60,000-100,000 doses of MK-7110 to the U.S. Government through June 30, 2021.

"Merck is pleased to be collaborating with the U.S. Government to advance the manufacture and distribution of this candidate for patients with serious COVID-19 disease," said Dr. Roger Perlmutter, president, Merck Research Laboratories.

Merck acquired MK-7110 through the acquisition of OncoImmune, a clinical-stage biopharmaceutical company.