Merck Leaps Into COVID-19 Development Fray with Vaccine, Drug Deals
Merck & Co Inc, which has largely kept to the sidelines of the race for COVID-19 treatments, said it was buying Austrian vaccine maker Themis Bioscience and would collaborate with research nonprofit IAVI to develop two separate vaccines. It also announced a partnership with privately held Ridgeback Biotherapeutics to develop an experimental oral antiviral drug against COVID-19, the respiratory disease caused by the novel coronavirus. It did not disclose the terms of the acquisition of Themis, a privately held company. Merck shares rose more than 3% in premarket trading. Most big pharmaceutical companies have already placed their bets on COVID-19 treatments, but Merck has been waiting for opportunities with proven track records, Chief Executive Ken Frazier said. "We wanted to be in a position where…