Costs of Recall Hurt Merck's Results; Lilly's Profit Is Up
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Merck & Company said that third-quarter earnings plunged 29 percent after the recall of its Vioxx painkiller.
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NEW YORK, December 8  - Merck &amp; Co (MRK.NYS) has guided to lower-than-expected 2005 earnings due to the withdrawal of its blockbuster arthritis drug, Vioxx, and increased generic competition for its cholesterol drug, Zocor.
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Generic drug wars and speculation on who will head Merck &amp; Co. next started to turn drug makers&#39; stocks around after the sector&#39;s benchmark index fell 4 percent and hit a 52-week low last week.
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Shares of Merck &amp; Co. plunged Monday after a news report suggested that the company knew about risks associated with its recently recalled Vioxx arthritis medication and tried to cover them up.
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Drugmaker Merck & Co. Inc.  boosted its 2007 earnings forecast on Wednesday, citing better-than-expected sales of multiple products, including its cancer vaccine Gardasil and diabetes drug Januvia.
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Merck & Co.  on Thursday said its third-quarter profit fell, hurt by negative effects of the recall last month of its Vioxx arthritis drug.
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Merck &amp; Co. Inc.&#39;s Vioxx recall is mushrooming into a product-liability nightmare that erased another $23 billion of the company&#39;s valuation on Monday, but analysts said it will likely withstand the crisis.
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Drugmaker Merck & Co. Inc.   boosted its 2007 earnings forecast on Wednesday, citing  higher-than-expected sales of multiple products, including its  cancer vaccine Gardasil and diabetes drug Januvia.
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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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* The world&#39;s biggest drug company loses $25 billion in market value in one day as investors fear another Vioxx debacle. NEW YORK - Pfizer Inc.
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Eli Lilly & Company reported fourth-quarter earnings of $854.4 million, or 78 cents a share, compared with $132.3 million, or 12 cents a share, a year ago.
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Merck and Co  on Wednesday reported a fourth-quarter loss due to a number of charges, including for a costly settlement related to its withdrawn Vioxx arthritis drug.
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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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NEW YORK - As Wall Street sifts through more than 300 third-quarter earnings reports this week, technology and pharmaceutical stocks will be getting some of the closest scrutiny.    The focus on drug companies results from a recent spate of bad news about Merck & Co...
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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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Pfizer Inc, Novartis AG and Wyeth all  saw quarterly earnings hit by charges on Thursday, while Eli  Lilly and Co exceeded Wall Street expectations as third-quarter  sales of several of its drugs outpaced analysts' estimates.
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Merck & Co. Inc.MRK.N, 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.