Pharma group Merck says strong euro will hurt 2007 sales
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German pharmaceutical giant Merck posted third quarter results Wednesday that exceeded analysts expectations, but the group said the strong euro would affect its full-year sales.
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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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Shares of Merck &amp; Co. plunged more than 7 percent Monday after a media report said that documents show the pharmaceutical giant hid or denied evidence for years that its blockbuster arthritis drug Vioxx cause heart problems.
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Merck & Co. Inc., reeling from the  recent withdrawal of its Vioxx arthritis drug, on Wednesday  said 2005 earnings will decline to levels below Wall Street  expectations, the third straight year of lower results.
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Merck & Co  reported a better-than-expected profit on Monday, helped by sales of its vaccines and cholesterol drugs, and raised its 2007 profit forecast.
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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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NEW YORK/WHITEHOUSE STATION, New Jersey  - Merck & Co.  expects to seek U.S. approval in 2007 for drugs to treat HIV, cholesterol and insomnia, and it aims to have another four products in late-stage trials by mid-year, the company said on Tuesday.
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The drug company presents 2007's numbers and gives 2008 guidance.
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Merck & Co.  on Wednesday stood  by its forecast of flat earnings for 2006 and projected  slightly higher 2007 results, in line with Wall Street  expectations, as the drugmaker grapples with generic  competition for a number of its medicines.
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Merck reduced its 2004 forecast by 50 cents to 55 cents because of lost revenues. The move followed the recall of Vioxx from the global market on September 30th, due to its association with increased risk of heart attacks.
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The European Union&#39;s head office issued a bleak economic report Tuesday, warning that the sharp rise in oil prices will &quot;take its toll&quot; on economic growth next year while the euro&#39;s renewed climb could threaten crucial exports.
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NEW YORK - Investors sent stocks mostly lower Thursday after Merck & Co. said it would be forced to remove one of its best-selling arthritis drugs from the market due to serious health risks...
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Consolidation in Europe's drugs   sector gathered steam on Thursday as Germany's Merck MRCG.DE   unveiled a $13.3-billion deal to buy Europe's top biotech firm   Serono SEO.VX, and Denmark's Nycomed won the drugs unit of   Altana ALTG.DE.
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Nonbinding offers for the generics  business of Merck KGaA , worth at least 4 billion  euros ($5.3 billion), are due on Monday, a source close to the  sale process told Reuters, confirming a newspaper report.
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Merck & Co.  on Wednesday stood by its forecast of flat earnings for 2006 and projected slightly higher 2007 results, in line with Wall Street expectations, as the drugmaker grapples with generic competition for a number of its medicines.
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A sharp increase in sales tax and slowing oil prices had mixed effects on headline inflation in Germany this month, regional consumer price data from the eurozone's biggest economy showed on Tuesday.
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A Wall Street analysis suggests the Vioxx recall may cost the pharmaceutical firm Merck as much as $18 billion over the next decade.