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Merck dips on missed Q4 projections, announces CEO change

Merck (NYSE:MRK) shares took a slight hit today on fourth-quarter results that came up shy of the consensus forecast.

Additionally, the company announced that chairman & CEO Kenneth C. Frazier will retire, effective June 30, 2021, and he will continue to serve on Merck’s board of directors as executive chairman for a transition period to be determined by the board.

Robert M. Davis, currently Merck’s executive VP of global services & CFO, has been unanimously elected by the board to assume the role of CEO, effective July 1, 2021. He will become president of Merck, effective April 1, 2021.

“The board and I are delighted that Rob will serve as Merck’s next CEO,” Frazier said in a news release. “He has deep knowledge of our company and industry and has been a valued strategic thought partner to me and the Merck senior management team as well as a highly capable finance leader.

“Rob has been instrumental in helping Merck take …

Merck gives up on COVID-19 vaccine candidates

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…

Pharma researcher charged with theft of trade secrets

Image from Bill Oxford via Unsplash

A former director of medical and scientific affairs at Merck (NYSE:MRK) faces criminal charges in federal court in New Jersey for allegedly stealing and transmitting trade secrets.

Shafat A. Quadri has been released on $100,000 unsecured bond. He was most recently employed at AstraZeneca (NSDQ:AZN).

The single count of trade secret theft carries a maximum potential penalty of up to 10 years in prison and a fine as high as $250,000, or double the total financial gain or loss, according to Rachael A. Honig, acting U.S. attorney for the District of New Jersey.

The complaint describes Quadri’s former employer as “Company 1,” stating that the organization reached out to the FBI in Oct. 2019 to report suspicious activity regarding its sensitive intellectual property. Quadri had been employed at that company until Sept. 30, 2019.

The suit alleges that Quadri …

Drug companies agree not to release COVID-19 vaccine until it’s ready

[Photo by Fusion Medical Animation on Unsplash]

Executives from nine different drug companies today announced a pledge to ensure safety with a potential COVID-19 vaccine.

The CEOs of AstraZeneca (NYSE:AZN), BioNTech (NSDQ:BNTX), GlaxoSmithKline (NYSE:GSK), Johnson & Johnson (NYSE:JNJ), Merck (NYSE:MRK), Moderna (NSDQ:MRNA), Novavax (NSDQ:NVAX), Pfizer (NYSE:PFE) and Sanofi (NYSE:SNY), all of whom are developing vaccine candidates, all signed the pledge, which vows to “uphold the integrity of the scientific process” as they pursue regulatory approvals of the first vaccines for the novel coronavirus.

Get the full story at our sister site, MassDevice.

Drug companies agree not to release COVID-19 vaccine until it’s ready

[Photo by Fusion Medical Animation on Unsplash]

Executives from nine different drug companies today announced a pledge to ensure safety with a potential COVID-19 vaccine.

The CEOs of AstraZeneca (NYSE:AZN), BioNTech (NSDQ:BNTX), GlaxoSmithKline (NYSE:GSK), Johnson & Johnson (NYSE:JNJ), Merck (NYSE:MRK), Moderna (NSDQ:MRNA), Novavax (NSDQ:NVAX), Pfizer (NYSE:PFE) and Sanofi (NYSE:SNY), all of whom are developing vaccine candidates, all signed the pledge, which vows to “uphold the integrity of the scientific process” as they pursue regulatory approvals of the first vaccines for the novel coronavirus.

“FDA has established clear guidance for the development of COVID-19 vaccines and clear criteria for their potential authorization or approval in the US,” the pledge states. “FDA’s guidance and criteria are based on the scientific and medical principles necessary to clearly dem…

The most innovative pharmaceutical agents of 2020

The Galien Foundation recently announced nominees for most innovative pharmaceutical agents for its 14th Annual Prix Galien USA Awards.

The foundation bestows the Prix Galien Award annually to examples of outstanding biomedical, pharmaceutical drugs and medical technology products that are designed to improve the human condition.

“As we celebrate 50 years of the Prix Galien process, we are honored to announce this year’s Prix Galien USA nominees, which represent the determination and passion for change that serves as the driving force of life-changing innovation,” said Sue Desmond-Hellmann, chair of the Prix Galien USA and Prix Galien International Committees, in a news release.

This year, the foundation nominated 26 pharmaceutical agents that have been FDA-approved for the market within the last five years, and show major potential to affect healthcare. The winners will be announced in October this year.

“While scientific discovery and medical in…

The 26 most innovative pharmaceutical agents of 2020

The Galien Foundation recently announced nominees for most innovative pharmaceutical agents for its 14th Annual Prix Galien USA Awards.

The foundation bestows the Prix Galien Award annually to examples of outstanding biomedical, pharmaceutical drugs and medical technology products that are designed to improve the human condition.

“As we celebrate 50 years of the Prix Galien process, we are honored to announce this year’s Prix Galien USA nominees, which represent the determination and passion for change that serves as the driving force of life-changing innovation,” said Sue Desmond-Hellmann, chair of the Prix Galien USA and Prix Galien International Committees, in a news release.

This year, the foundation nominated 26 pharmaceutical agents that have been FDA-approved for the market within the last five years, and show major potential to affect healthcare. The winners will be announced in October this year.

“While scientific discovery and medical in…

MedTech 100 roundup: Another rebound as markets continue to fluctuate

Medtech stocks rebounded from a significant dip earlier in June last week, continuing to highlight the topsy-turvy nature of the markets during the COVID-19 pandemic.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 85.00 points at the end of last week (June 19). That total represents a 3.5% increase from the 82.12-point total at the same time a week prior (June 12), demonstrating another uptick after a -6% drop-off just one week before.

Meanwhile, the S&P 500 Index experienced a 1.9% increase from June 12 to June 19, and the Dow Jones Index fared slightly worse with a 1% increase over the same period of time. Both indexes mirrored medtech’s rebound, having posted -4.8% and -5.6% decreases, respectively, the week before.

Medtech’s lowest point during the COVID-19 pandemic remains at 62.13 on March 23. Since then, the industry’s stocks have experienced 36.8% growth in total. Stocks i…

Merck acquires Themis to speed COVID-19 vaccine development

Merck (NYSE:MRK) announced today that it completed the acquisition of vaccine and immune-modulation therapy developer Themis for an undisclosed amount.

In connection with the acquisition, the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, while Merck gained merger control from the Austrian Federal Competition Authority, making Themis now a wholly-owned subsidiary of Merck.

Get the full story at our sister site, Drug Discovery & Development.

Merck acquires Themis to speed COVID-19 vaccine development

Merck (NYSE:MRK) announced today that it completed the acquisition of vaccine and immune-modulation therapy developer Themis for an undisclosed amount.

In connection with the acquisition, the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, while Merck gained merger control from the Austrian Federal Competition Authority, making Themis now a wholly-owned subsidiary of Merck.

Merck and Themis are set to accelerate and develop a measles vector-based SARS-CoV-2 vaccine as an early focus of the acquisition. The candidate is currently in pre-clinical development with clinical studies planned to begin later this year, according to a news release.

Last month, Merck announced today that they are collaborating with IAVI to develop an investigational vaccine against SARS-CoV-2 for preventing COVID-19.

Just days after that announcement, Merck announced that i…

Merck eyes tiny patches as a vaccine delivery method

Vaxxas’ High Density Microarray Patches (HD-MAP)

Merck has exercised its option to use Vaxxas‘ High Density Microarray Patch (HD-MAP) platform as a delivery platform for a vaccine candidate, the companies announced today.

The companies did not disclose what the vaccine candidate is supposed to treat. But Merck this month announced two COVID-19 vaccine development efforts: a collaboration with IAVI and plans to acquire vaccine developer Themis Bioscience. Vaxxas (Cambridge, Mass.; Brisbane, Australia) notes that any vaccine could be delivered with its dime-sized patch.

Also today, Vaxxas announced that German manufacturing equipment maker Harro Höfliger will help Vaxxas develop a high-throughput, aseptic manufacturing line to make vaccine products based on Vaxxas’ HD-MAP technology — with a goal of eventually churning out millions of vaccine patches a week.

Get the full story on our…

Merck eyes tiny patches as a vaccine delivery method

Vaxxas’ High Density Microarray Patches (HD-MAP)

Merck has exercised its option to use Vaxxas‘ High Density Microarray Patch (HD-MAP) platform as a delivery platform for a vaccine candidate, the companies announced today.

The companies did not disclose what the vaccine candidate is supposed to treat. But Merck this month announced two COVID-19 vaccine development efforts: a collaboration with IAVI and plans to acquire vaccine developer Themis Bioscience. Vaxxas (Cambridge, Mass.; Brisbane, Australia) notes that any vaccine could be delivered with its dime-sized patch.

Also today, Vaxxas announced that German manufacturing equipment maker Harro Höfliger will help Vaxxas develop a high-throughput, aseptic manufacturing line to make vaccine products based on Vaxxas’ HD-MAP technology — with a goal of eventually churning out millions of vaccine patches a week.

Get the full story on our …