AbbVie, Scripps Research to Develop COVID-19 Antiviral Agents

AbbVie Inc.
ABBV,
+0.96%

said Tuesday that it will partner with Scripps Research to develop new COVID-19 antiviral agents. “Our SARS-CoV-2 research program has the potential to significantly impact the ongoing gaps in patient needs to move from pandemic to endemic COVID-19,” said Peter Schultz, President and CEO of Scripps Research, in a press release. There are two approved COVID-19 antiviral agents: Pfizer Inc.’s
PFE,
-0.82%

Paxlovid and Merck & Co. Inc.’s
MRK,
+1.27%

molnupiravir. AbbVie’s share has risen 12.3% since the beginning of the year, while the S&P 500
SPX,
+1.61%

has fallen 12.4 per cent.