Japanese drugmaker Shionogi & Co. said the COVID-19 pill it’s developing could be a $2 billion (¥223.7 billion) drug potentially used in combination with a similar offering from Merck & Co., as the pandemic’s focus shifts to the need for easy-to-take medications able to combat mild cases.

Shionogi expects to have late-stage trial data for its pill by December and will move quickly on filing for regulatory approval in Japan, chief executive officer Isao Teshirogi said in an interview. The company will begin manufacturing the drug this month, he said, and expects to be able to produce a million doses by early next year. It sees itself making six to seven million doses in its next fiscal year, ending March 2023.

"If the Merck price — about $700 (¥78,300) per treatment — can be used for the U.S., Europe and Japan, I think at least $1-2 billion in sales will be anticipated for the first several years,” Teshirogi said of Shionogi’s pill.