Merck Will Seek FDA Approval for Insomnia Drug (MRK)

Drug giant Merck & Co. (NYSE: MRK) plans to file this year with the US FDA for approval of the company’s newest sleep aid drug, suvorexant. The drug has completed late-stage trials with positive results. It is one of five drugs that Merck hopes will gain FDA approval in 2012 and 2013.

The company lost patent protection on its Singulair asthma drug in August, and Merck needs new drugs to fill the gap. The Wall Street Journal cites an estimate of $500 million in sales for the new drug once it is widely available.

Merck said the drug does not pose any serious safety threat and that patients who discontinued use of the drug due to its side effects did so in the same numbers as patients receiving placebo.