111 days ago • Posted by FlowBank
Merck stock drops after COVID vaccine projects abandoned
New Jersey-based Merck, one of the world's largest pharmaceutical companies, has just abandoned its two experimental COVID vaccine projects after early data showed they generated little, if any, immune response in patients.
Merck's shares took a hit on the news, tumbling nearly 2%, as the company - which has a long history of developing vaccines (though typically on a longer timeline) - adopted a different strategy from rivals like Pfizer, Moderna and J&J. Merck used a more traditional approach focusing on weakened viruses.