Shares of Pfizer and Merck are in the spotlight on Wednesday after both companies won some key federal regulatory approvals. Pfizer received the backing of the Centers for Disease Control and Prevention's Advisory Committee on Immunization Practices. The group gave Pfizer's Prevnar 13 vaccine approval for people ages 65 and older. Also, watch shares of Merck after it received approval to sell Belsomra, its treatment for insomnia. It's a new type of drug considered to have fewer side effects than older medications such as Ambien. The FDA cleared the sleeping pill in lower doses than what Merck had originally sought. Now, the DEA must determine restrictions on prescribing the medication before it can hit the market. Merck expects to start selling Belsomra late this year or early in 2015. TheStreet's Ruben Ramirez has details from New York.

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