Merck Wins FDA OK for Antibiotic
Merck & Co. won U.S. Food and Drug Administration approval for an injectable antibiotic designed to work against infections resistant to the cephalosporin class of antibiotics, the company said.
The drug, from the same class of antibiotics as Merck’s Primaxin and AstraZeneca’s Merrem, is designed to be given once daily, while the other drugs must be given three times a day.
Merrill Lynch estimated sales of the antibiotic, called Invanz, at $55 million in 2002 and $363 million by 2005.
Merck shares rose $1.50, or 2.3%, to $66.85 on the New York Stock Exchange.
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