Benzinga | Nov 9, 2021 10:49AM EST

Merck Ahead Of Pfizer In Talks With Europe For COVID-19 Pills: Reuters

* The European Union is negotiating with Merck & Co Inc (NYSE:MRK) and Pfizer Inc (NYSE:PFE) over possible contracts to supply COVID-19 drugs, an EU official told Reuters.

* Both the companies have developed antiviral pills that have shown promising efficacy in trials of adults with COVID-19 who are at high risk of serious illness, with Pfizer's at 89% and Merck's around 50%.

* "Contacts are ongoing with both," the EU official familiar with the discussions, asking not to be named as the negotiations are confidential.

* The official added that the talks with Merck were more advanced because it has already begun submitting data to the European Union's drugs regulator.

* Pfizer has yet to submit any data because preliminary results of its trials were published only last week, a month after Merck's results.

* Related Link: Britain Approves First Oral COVID-19 Antiviral From Merck.

* Britain has procured 480,000 courses of Merck's pill and 250,000 courses of Pfizer's.

* Pfizer expects to produce over 180,000 courses of its therapy by the end of 2021, whereas Merck plans output of 10 million courses.

* Price Action: MRK shares are down 0.19% at $81.45, and PFE shares are down 0.92% at $48.16 during the market session on the last check Monday.