Merck MRK announced that the European Commission has granted approval to its and Germany-based partner Bayer’s BAYRY heart failure drug, Verquvo (vericiguat). The drug will be available as a treatment for symptomatic chronic heart failure with reduced ejection fraction (HFrEF) in adult patients who are stabilized after a recent decompensation event requiring intravenous (IV) therapy.The drug will be available in three doses — 2.5 mg, 5 mg and 10 mg tablets. While Merck owns commercial rights to Verquvo in the United States, Bayer has exclusive commercial rights in the rest of the world. The drug was approved in the United States in January, followed by Japan in June. In the United States, the approval came with a boxed warning that indicates that the drug should not be given to pregnant ladies because it may cause fetal harm.Bayer has also submitted regulatory applications seeking approval for vericiguat in several other countries, including China.So far this year, Merck’s shares have declined 6.6% against an increase of 9.5% for the industry.Image Source: Zacks Investment ResearchThe approval was based on data from the phase III study — VICTORIA — evaluating Verquvo in patients with worsening chronic heart failure. The VICTORIA study evaluated vericiguat versus placebo when given in combination with available heart failure therapies in patients with worsening chronic heart failure with reduced ejection fraction (HFrEF) also known as systolic heart failure. Data from the study showed that vericiguat was superior to placebo in reducing the risk of composite endpoint of heart failure hospitalization or cardiovascular death in such patients. The data showed that there was a 4.2% reduction in annualized absolute risk with Verquvo compared with placebo.Although the drug represents a significant opportunity for both companies due to huge patient population, it will likely face competition from Novartis’ NVS Entresto and AstraZeneca’s AZN Farxiga, which have already been launched to treat HFrEF. Cytokinetics is developing its pipeline candidate, omecamtiv mecarbil, in late-stage clinical program targeting HFrEF.Merck & Co., Inc. Price Merck & Co., Inc. price | Merck & Co., Inc. QuoteZacks RankMerck currently carries a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AstraZeneca PLC (AZN): Free Stock Analysis Report Novartis AG (NVS): Free Stock Analysis Report Merck & Co., Inc. (MRK): Free Stock Analysis Report Bayer Aktiengesellschaft (BAYRY): Free Stock Analysis Report To read this article on Zacks.com click here.