Merck shares rise on FDA approval for Winrevair
By Denny Jacob
Merck shares (MRK) gained 3.8% in after-hours trading Tuesday following approval of its new drug for a potentially fatal lung disease.
The stock is up almost 20% over the past 12 months through Tuesday's close.
The 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.
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03-26-24 1806ET
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