Merck COVID-19 pill success slams Moderna shares, shakes up healthcare sector

Merck shares jumped as much as 12.3% and hit their highest level since February 2020, At the same time, shares of vaccine makers such as Moderna Inc, Pfizer Inc and partner BioNTech SE were hit, with some analysts saying the promise of an oral drug that can be taken at home could change the public perception of risks associated with COVID-19.

Positive clinical trial results for Merck & Co's experimental antiviral COVID-19 pill reverberated through the healthcare sector on Friday, sending the drugmaker's stock price soaring while denting high-flying shares of vaccine companies and makers of other coronavirus therapies.

Merck shares jumped as much as 12.3% and hit their highest level since February 2020 after data showed the company's pill molnupiravir https://www.reuters.com/business/healthcare-pharmaceuticals/mercks-covid-19-pill-cuts-risk-death-hospitalization-by-50-study-2021-10-01 could halve the chances of dying or being hospitalized for those most at risk of contracting severe COVID-19. Experts hailed the news as potentially a huge advance in the fight against COVID-19.