Quebec’s health insurance board will now enlist Merck & Co., Inc. (NYSE:MRK)’s ZEPATIER(®)(elbasvir/grazoprevir), a common treatment for adults suffering from chronic infection by genotypes 1, 3 or 4 of the hepatitis C virus. The product has so far been approved for reimbursement by many other jurisdictions with the latest falling under Quebec’s public healthcare plans for chronic hepatitis C patients.
Merck had a promising experiment for hepatitis C drug in 2014. However, the extreme success of other new therapies is not doing it any good. Hence it may have to write down most of what it paid for the experiment. There has been a notable decline in the market for treatments for hepatitis C as a result of major breakthroughs in science, which has brought along highly successful and fast-working cures.
Let’s explore the changing market
Zepatier franchise from Merck has become very common in the market alongside that of AbbVie Inc (NYSE:ABBV). However, the company says that it was triggered to re-evaluate its way of operations as a result of the recent market changes as well as its portfolio. This may have occasioned the fourth-quarter earnings loss of 22 cents a share.
However, embracing of Zepatier by Quebec will go a long way in improving the current status according to President and Managing Director of Merck Canada Inc. Chirfi Guindo says, “We are proud to contribute a solution in the fight against this disease, all the while helping reduce the cost pressure on the healthcare system.”
Merck has been in the lead of responding to the HCV epidemic
If not attended to on time, hepatitis C can result in serious complications the likes of liver cancer or cirrhosis. Close to 250,000 individuals are estimated to have an HCV infection in Canada and surprisingly many of them may not be aware.
For close to 30years, the global healthcare leader has been applying its dedication in scientific know-how, funds, and global reach to have modern healthcare solutions that would benefit a larger number of people. It has had its operations in more than 140 countries while serving millions of people. In the meantime, Merck’s stock was trading at $63.91 a fall of $0.20 or 0.31%.
