IN VERITAS – The BayneLaw Advantage
  1. Home
  2.  → 
  3. Biotech & Pharmaceuticals
  4.  → New Jersey company agrees with government on COVID drug

New Jersey company agrees with government on COVID drug

On Behalf of | Jan 4, 2021 | Biotech & Pharmaceuticals |

When there is an ongoing health crisis, biotech and pharmaceutical companies come to the forefront in finding solutions to help treat it. That has rarely been more evident than with the current coronavirus outbreak that has sickened many, led to significant deaths and wreaked havoc with the economy with widespread impact across the globe. Since there are many pharmaceutical researchers and manufacturers in New Jersey, it is important that these companies can innovate, test and conduct trials to create life-saving medications. Part of that is to have proper legal advice and protections.

Merck reaches agreement with the U.S. government

Well-known drug maker Merck has come to an agreement with the U.S. government for its COVID medication. The company will receive approximately $356 million for between 60,000 and 100,000 doses of its drug to treat people who are severely ill. The drug, known as MK-7110, has been shown to be effective for people who are already ill with COVID. It had around a 60% improvement rate vs. those who were given a placebo. The chance of respiratory failure or patient death was reduced by half.

The company will provide the drug through the first half of 2021. It is still waiting to receive Food and Drug Administration (FDA) approval. There is a fast-track process that is designed to speed its approval so patients can begin receiving the drug. Merck did not make the drug. Instead, it purchased the firm that did. The Trump administration had pushed for a faster development of various medications and treatments to help those who were stricken with COVID.

Legal protections are essential with pharmaceuticals

For companies that are creating medications and treatments designed for patient use, it is important that they be fully compliant with the laws and protected in case challenges arise. This is also key with clinical trials, applying for approval from the FDA, having proper licensing, marketing the product, and being protected from liability. The speed at which these medications were created is a triumph of human ingenuity in the face of an ongoing pandemic. Still, companies that are involved in these medications must remember that they should be shielded with proper legal representation. A firm with experience in representing those involved in biotech and pharmaceuticals may be able to help.