A new pill from drugmaker Merck & Co. (MRK) that can dramatically lower cholesterol levels has been approved by the U.S. Food and Drug Administration (FDA).
Merck said in a news release that its cholesterol pill is the first of its kind to receive FDA approval, bolstering the company’s efforts to diversify away from its cancer treatment Keytruda.
Keytruda is set to lose its patent protection in 2028, exposing the company to competition from less expensive generic versions of the medication.
Lipfendra is Merck’s new drug that can dramatically lower elevated cholesterol levels that often lead to plaque buildup in arteries.
Following FDA approval, Lipfendra becomes the first such cholesterol pill to enter the U.S. market. Other similar cholesterol-lowering drugs are taken via injections.
The new medication works by blocking the proteins that lead to high cholesterol levels.
About one in four adults in the U.S. (25%) have high levels of so called “bad cholesterol,” according to the American Heart Association.
Late-stage clinical trials found the once-daily pill significantly lowered cholesterol in a broad range of patients.
The daily cholesterol pill is expected to be a blockbuster medication for Merck, with Scotiabank (BNS) estimating peak annual sales of tens of billions of dollars.
MRK stock has gained 50% in the last 12 months to trade at $123.61 U.S. per share.
