Merck, one of America's largest pharmaceutical companies, put in an emergency use authorization request for a pill that may be the first to treat COVID-19.

On Friday, the pharmaceutical company released a statement declaring that it was preparing to apply for emergency use of its molnupiravir tablet with the Food and Drug Administration. If approved by the FDA, the tablet would be the first oral antiviral medicine to be used to treat the coronavirus, Reuters reported.

Merck partnered with Ridgeback Biotherapeutics to conduct a study of 775 patients deemed to be more at-risk for mild-to-moderate cases of COVID-19, according to the company's statement. Those who were given molnupiravir as a treatment for COVID-19 symptoms showed a 50% reduced risk of hospitalization as opposed to the patients who were given a placebo.

Merck’s major good news deserves our continued attention.$Merck(MRK)$