Merck & Co. (NYSE:MRK): Current price $47.84
On Monday, Merck reported that the FDA declined to approve its drug Bridion, or sugammadex, which is used to reverse the effects of anesthesia following surgery. The firm said that the drug is approved in over 50 countries, but not in the United States. The agency turned the drug down in 2008 due to allergic reactions and bleeding among some patients, and in July it canceled a meeting of experts who were to review Bridion, explaining that it needed more time to settle questions regarding one of the sites used for patient testing. Merck said on Monday that the FDA still has worries about that evaluation, but that it is examining the FDA’s response to its application for the drug.