Merck Sees Slightly Higher 2007 Earnings
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The drug maker Merck & Company forecast flat earnings for 2006 and slightly higher 2007 results as it grapples with generic competition.
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Merck & Co. Inc. MRK.N will increase  the number of jobs cut to 5,100 by year end, up from an  original target of 4,400 because its earnings have been hurt by  the withdrawal of its arthritis drug Vioxx.
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Merck & Co. Inc.  shares could rise to $70 by 2010 if the drugmaker continues to deliver on its promise of double-digit earnings growth, Barron's said in its October 29 edition.
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The company, which makes products ranging from automotive coatings to genetically modified seeds, said it expected 2007 earnings to be at the upper end of its previously announced range of $3.15 to $3.20 a share.
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Merck released a forecast for first-quarter profit well above analystsâ expectations, and also increased its forecast for 2007.
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German drugs and chemicals group Merck&#39;s third-quarter operating profit rose by a forecast-beating 42 percent, helped by strong sales of cancer drug Erbitux and liquid crystals for flat screen televisions.
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UnitedHealth Group Inc. , which is trying to emerge from a stock options scandal, on Tuesday affirmed its 2006 profit outlook and forecast 2007 net earnings of between $4.7 billion and $4.75 billion on revenue of about $79.5 billion.
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U.S. stock futures pointed to a  slightly lower open on Tuesday as investors take a step back  after last week's three-day rally, with shares of drug maker  Merck & Co. MRK.N under pressure as regulators step up  investigations into the company's withdrawal of its pain  reliever, Vioxx.
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Merck (nyse: MRK - news - people ) will conduct its annual analyst meeting tomorrow. The drug company is expected to provide information regarding liabilities for potential Vioxx-related lawsuits.
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Merck & Co  on Monday said its  third-quarter profit rose sharply, helped by sales of its  vaccines and cholesterol drugs, and raised its 2007 profit  forecast in view of strong current trends.
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U.S. stocks traded higher on  Wednesday, with shares of drugmaker Merck & Co. MRK.N helping  to boost the Dow after its 2005 forecast offered relief to some  investors on Wall Street.
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German drugs and chemicals group Merck has reported quarterly earnings that have easily beaten forecasts thanks to strong sales of cancer drug Erbitux and a one-off payment for an alcoholism drug.
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Sanofi-Aventis posted higher than  expected fourth-quarter profits on Tuesday and predicted more  growth for 2007, but a further delay in its key new  anti-obesity drug Acomplia hit the shares.
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YESTERDAY Close $54.64 Change +$1.53 52-WEEK High $55.14 Low $42.29 Merck &amp; Co., the third-largest US drug maker, reported a 63 percent increase in earnings and raised its forecast for the year after a vaccine for cervical cancer and a new pill for diabetes drove sales higher.
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Merck KGaA, the German drug and chemical company whose products include the multiple sclerosis drug Rebif and cancer treatment Erbitux, said Monday that its fourth-quarter profit soared to nearly $5 billion as it reaped the benefits of its acquisition of Serono and the divestiture of its generic drug unit.
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Merck & Co. Inc.  shares could  rise to $70 by 2010 if the drugmaker continues to deliver on  its promise of double-digit earnings growth, Barron's said in  its October 29 edition.
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Merck & Co. on Wednesday maintained its forecast of flat earnings for 2006 and slightly higher 2007 results as the drugmaker grapples with generic competition, sending its shares down about 1.4 percent.