Benzinga | Nov 9, 2021 11:46AM EST

US Government To Purchase Additional 1.4M Doses Of Merck's COVID-19 Pill

* The U.S. government will buy another $1 billion worth of Merck & Co Inc (NYSE:MRK) and partner Ridgeback Biotherapeutics' COVID-19 pills.

* The government in June agreed to buy 1.7 million courses of molnupiravir for $1.2 billion and is now exercising options to buy 1.4 million more.

* That brings the total secured courses to 3.1 million and worth $2.2 billion.

* Merck said the government has the right to buy 2 million more courses as part of the contract.

* The FDA's Antimicrobial Drugs Advisory Committee will discuss the application for Molnupiravir on November 30.

* Related: Merck, Ridgeback File For Emergency Use Nod For COVID-19 Antiviral.

* Molnupiravir, if authorized, will be among the vaccines and medicines available to fight COVID-19 as part of our collective efforts to bring this pandemic to an end," said Frank Clyburn, president of Merck's human health business.

* Read Next: Merck Ahead Of Pfizer In Talks With Europe For COVID-19 Pills: Reuters.

* Price Action: MRK shares are up 0.71% at $$83.27 during the premarket session on the last check Tuesday.