Merck & Co is bowing out of the COVID-19 vaccine program after unfavorable data showed that 2 experimental vaccines did not generate immune responses as anticipated.
The U.S. pharmaceutical giant was banking on its decision to go another direction than other vaccine manufacturers but failed to hit the mark during testing.
Merck’s (MRX) stock fell 1.1% on Monday. However, the stock was up 0.21% at closing, defying logic.
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