Takeover costs dent Merck profit
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Costs associated with taking over a Swiss rival dent net profits at German drug firm Merck.
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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 & Co.  on Monday said its  second-quarter earnings more than doubled on growing demand for  its drugs, blowing past Wall Street expectations, and raised  its full-year profit forecast.
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Pharmaceutical giant Merck &amp; Co., under siege over revenues lost since it recalled arthritis drug Vioxx, will have cut about 5,100 jobs by year&#39;s end, 700 more than first planned, and will slash costs by $2.4 billion over four years, chairman and CEO
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Swiss pharmaceutical giant Novartis on Thursday announced record earnings over the first nine months of the year, but third quarter profits fell 12 percent on sharper competition from generic drugs.
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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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As far as stock hits go, this ranks up there as one of the worst. Merck &amp; Co. lost more than $26.6 billion in value yesterday - yes, that&#39;s billion with ab - after the pharmaceutical giant
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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 said 2005 earnings will decline to
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Merck & Co. MRK.N on Thursday  reported a 28 percent drop in quarterly profit and said 2004  earnings will fall as much as 11 percent due to last month's  recall of its Vioxx arthritis drug.
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BASEL, Switzerland  - Swiss drugmaker Novartis AG missed forecasts with a 42 percent drop in fourth-quarter net profit, hit by generic competition and a one-off restructuring charge, sending its shares lower.
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Merck & Co.  said on Monday that quarterly earnings rose 12 percent on strong demand for its newer vaccines and medicines, and raised its 2007 profit forecast, sending its shares up 4 percent.
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Merck & Co. Inc., reeling from the recent withdrawal of its Vioxx arthritis drug, said Wednesday it expects 2005 earnings of &#36;2.42 to &#36;2.52 a share -- a decline from expected 2004 results.
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By Tom Walker, The Atlanta Journal-Constitution  Dec. 7--A top-level shake-up at Yahoo and a disappointing earnings  forecast by Merck & Co. gave investors an excuse Wednesday to sell and take  some profits off the table from the market's recent rally. All the major stock  indexes fell.
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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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Shares in Merck, the US pharmaceuticals giant, plunged by almost 27 per cent yesterday after the company withdrew Vioxx, its $2.5bn (Â£1.
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Merck and Co. Inc. MRK.N on Tuesday  said fourth-quarter earnings fell 21 percent, hurt by the  withdrawal last September of its blockbuster arthritis drug  Vioxx and related charges.
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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.