News of an experimental pill from Merck & Co led to a drop in stocks of makers of vaccines BioNTech SE and Moderna Inc. in New York on Friday.
Merck & Co. says its experimental pill cuts the risk of hospitalization and death from Covid-19 in half.
Merck’s drug is seen as a turning point in the global fight against Covid-19.
Bloomberg says Shanghai Fosun Pharmaceutical Group Co., which has a deal to distribute BioNTech and Pfizer Inc.’s vaccine in Greater China, slumped as much as 21% in Hong Kong, leading to losses in the region’s health stocks.
