Vioxx Withdrawal to Reduce Merck Earnings
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The withdrawal of painkiller Vioxx means Merck &amp; Co. will miss the already diminished expectations of Wall Street analysts for 2005, the huge drug maker said Wednesday.
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NEW YORK - Investors sent stocks mostly lower Thursday after Merck & Co. said it would be forced to remove its best-selling Vioxx arthritis drug from the market due to serious health risks...
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Merck &amp; Co. Inc.(MRK.N: Quote, Profile, Research) , reeling from the recent withdrawal of its Vioxx arthritis drug, on Wednesday reaffirmed its 2004 earnings outlook but said earnings in 2005 will be lower than analysts had expected.
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The blue-chip Dow Jones average fell  on Thursday after drug maker Merck & Co.MRK.N withdrew its  widely used Vioxx painkiller after evidence showed the drug  could increase risk of heart attack and stroke.
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NEW YORK Merck led blue-chip stocks lower Thursday as the No. 2 US drug maker reduced its profit forecast after withdrawing its Vioxx painkiller.
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NEW YORK, Sept. 30 -- Wall Street closed out a dismal third quarter with a mixed performance Thursday after Merck said it would be forced to remove its best-selling Vioxx arthritis drug from the market. Merck's unexpected bad news left blue chips with a loss for the day, while high-tech stocks got a lift from bargain hunters.
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Merck &amp; Co. Inc.(MRK), reeling from the recent withdrawal of its Vioxx arthritis drug, said Wednesday it expects 2005 earnings of $2.42 to $2.52 a share -- a decline from expected 2004 results.
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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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NEW YORK - The stunning news Thursday that Merck &amp; Co. is withdrawing its pain reliever Vioxx from the market because of health risks is the latest in a series of blows to what only a few years ago was the
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The withdrawal of Vioxx may take a bite out of Merck &amp; Co.&#39;s revenues, but it isn&#39;ta setback for arthritis patients, doctors said Friday, because dozens of other drugs offer the same symptom relief.
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Shares of Merck &amp; Co. plunged nearly 27 percent yesterday, pulling other stocks down with it, after the pharmaceutical giant yanked its Vioxx arthritis drug off the market because of heart safety concerns.
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Merck &amp; Co. Inc. on Wednesday provided earnings guidance for 2005 that is below the current expectations of Wall Street, while indicating that sales of its key choloesterol drug would soften next year.
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Pharmaceutical giant Merck & Co. said Tuesday its fourth-quarter profit plunged 21 percent, mainly due to lost sales and a big reserve taken for legal defense costs over the withdrawal of its former blockbuster arthritis drug Vioxx.
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Merck & Co Inc. MRK.N on Thursday  pulled its arthritis drug Vioxx off the market after a study  showed it doubled the risk of heart attack and stroke, a move  that sent its shares plunging and erased $25 billion from its  market value.
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Drug giant Merck, stung by its handling of the recall of the arthritis drug Vioxx, says it will cut about 51-hundred jobs by the end of the year.
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Merck & Co. Inc. MRK.N, whose  earnings are being hurt by the withdrawal of its arthritis drug  Vioxx, said on Tuesday it has increased the number of jobs to  be cut by year-end to 5,100 from 4,400.
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NEW YORK - Already wounded by the withdrawal of its Vioxx pain reliever from the market, Merck &amp; Co. must now contend with hundreds of lawsuits over the drug&#39;s side effects - lawsuits that threaten to further damage the company&#39;s finances and reputation.