Merck Shares Rise 5% on FDA Approval for Winrevair
Provided by
Dow Jones
By Denny Jacob
Merck shares gain 5% to $131.90 in afterhours trading following approval of its new drug for a potentially fatal lung disease.
The stock is up 20% over the last 12 months through the close.
The drugmaker's drug, which will sell under the name Winrevair, treats a condition called pulmonary arterial hypertension that affects nearly 40,000 people in the U.S. In 2021, Merck paid $11.5 billion for the company developing the medicine.
The Food and Drug Administration approved Winrevair as an add-on therapy to other drugs for pulmonary arterial hypertension, which is commonly known as PAH.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 26, 2024 17:52 ET (21:52 GMT)
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