Merck (NYSE:MRK) announced today that it is discontinuing the development of its two COVID-19 vaccine candidates, with the Kenilworth, N.J.-based pharma company focusing on two therapeutic candidates instead.
Merck officials say they made the decision after Phase 1 clinical studies that showed the V590 and V591 vaccine candidates produced an immune response that was inferior to a natural infection, as well as what has been reported for other COVID-19 vaccines. The company plans to record a charge in its Q4 2020 results related to the discontinuation.
“We are grateful to our collaborators who worked with us on these vaccine candidates and to the volunteers in the trials,” said Dr. Dean Y. Li, president of Merck Research Laboratories.
“We are resolute in our commitment to contribute to the global effort to relieve the burden of this pandemic on patients, health care systems and communities,” Li said in a news release.
Merck will continue…