Resignation will ease the pain of Merck investors
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WHAT a pill Vioxx turned out to be for Merck. Between 50 cents and 60 cents a share were lopped off expected earnings this year after the US pharmaceutical giant gave up defending its painkiller in public
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TRENTON, NJ - Merck &amp; Co. Inc. has adopted a new severance plan that offers some executives one-time payments of up to triple their salary and other perks if the troubled pharmaceutical giant is acquired and they lose their jobs.
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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.
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When Raymond Gilmartin became chairman of the drug maker Merck, it was close to introducing several new medicines. Now, the company is in crisis.
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Merck &amp; Co. plans to cut its workforce by 5,100 jobs by the end of the year--about 700 more than originally planned. Whitehouse Station, NJ-based Merck said in materials filed with the Securities and Exchange
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That would be small consolation to pharma investors.
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WHITEHOUSE STATION, NJ - Merck and Co. shares fell more than 10 per cent in trading on the NYSE on Monday amid reports that company documents showed the pharmaceutical firm knew for years about health issues related to its arthritis drug Vioxx.
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A management resignation and light earnings provide a buying opportunity.
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A month after Merck quit selling Vioxx in the face of new evidence that its blockbuster painkiller caused heart attacks, strokes and other serious ailments, the company and plaintiffsâ lawyers are scrambling to adjust to a surge in related lawsuits.
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A week after saying it was withdrawing its $2.5 billion arthritis drug Vioxx from the market and losing a quarter of its stock market value as a result, Merck &amp; Co. will try to dodge the storm clouds and turn its attention tomorrow to a brighter subject with the official opening of its Boston research lab.
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When news broke Sept. 30 that Merck pulled its blockbuster anti-inflammatory pain reliever Vioxx, a collective sigh was heard across the nation.
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Merck &amp; Co. Inc. (MRK.N: Quote, Profile, Research) , 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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It was surely one of the most awkward moments of a long career at the top of one of America&#39;s best-known companies. Raymond Gilmartin, chairman and chief executive of Merck, sat
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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 drug maker said yesterday.
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Merck&#39;s (MRK:NYSE - news - research) withdrawn painkiller, Vioxx, could soon leave pharmacy benefit manager (PBM) Medco (MHS:NYSE - news - research) with its own headaches.
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Merck & Co Inc. on Thursday pulled its  arthritis drug Vioxx off the market because it increases the  risk of heart attack and stroke, a move that sent the company's  shares plunging, erasing $25 billion of its market value.
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Its products have relieved pain and suffering, and prolonged life for hundreds of millions of consumers. If you&#39;ve been following the Vioxx &quot;scandal,&quot; Merck is now in the cross-hairs of plaintiffs&#39; attorneys, politicians and certain elements of the FDA.