Merck plans further cost cuts
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By Christopher Bowe and Andrew Jack in Whitehouse Station, New Jersey. Merck has quickened the pace of its restructuring with plans to cut a further 700 jobs, targeting about $3bn in savings by the end of 2008
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Merck, the beleaguered US pharmaceuticals group, could be forced to pay out as much as $18bn (Â£9.7bn) over 10 years as a result of lawsuits linked to Vioxx, its controversial arthritis drug.
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Merck & Co. MRK.N and two other U.S.  drugmakers posted weak third-quarter results on Thursday, hurt  by intensifying competition and the loss of sales from drugs  found to be potentially dangerous.
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Under a plan recently passed by Merck &amp; Co. Inc.âs board of directors, members of the firmâs management committee and the companyâs vice president-level managers may be compensated with severance packages
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Pushing more of the cost of  prescription drugs onto consumers causes patients to cut back,  sometimes with adverse health consequences, according to a  review of two decades worth of studies published on Tuesday.
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Merck &amp; Co., Inc., knew of problems with its blockbuster painkiller Vioxx long before the drug was pulled from the market in September due to newer studies that linked the medication to an increased risk of heart attack and stroke, the Wall Street Journal
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Pushing more of the cost of prescription drugs onto consumers causes patients to cut back, sometimes with adverse health consequences, according to a review of two decades worth of studies published 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.
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It's part of a plan to cut costs by $1.6 billion between now and March 2008.
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Wyeth  on Friday said it is considering cost cuts that could eliminate 10 percent of its work force over a three-year period, although the U.S. drugmaker said details of the initiative are not "etched in stone."
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Indianapolis-based pharmaceutical firm says it will also close a research facility in North Carolina in effort to reduce drug prices.
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Greater numbers of seriously ill patients could get experimental medicines under proposed federal guidelines released Monday that also would allow drug companies to charge for the medicines.
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NEW YORK, November 30  - Merck &amp; Co (MRK.NYS) has adopted a new compensation plan aimed at retaining its senior management officials in case of a possible takeover.
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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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Merck&#39;s board has adopted an enhanced severance plan to retain and potentially protect senior executives in the event of a takeover of the struggling US drugmaker.
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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 said that it would stop selling Vioxx because a study found that it doubled patients' risk of heart attack and strokes.