Merck&#39;s profit hit by Vioxx recall
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Company earned 60 cents a share, down from 83 cents a year earlier; Vioxx linked to heart attacks. NEW YORK  - Merck &amp; Co.
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Merck & Co. MRK.N 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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NEW YORK Merck led blue-chip stocks lower Thursday as the No. 2 US drug maker reduced its profit forecast after withdrawing its Vioxx painkiller.
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A New Jersey jury on Monday ordered Merck & Co.  to pay $47.5 million in damages after finding that the drugmaker's withdrawn arthritis drug, Vioxx, was responsible for a plaintiff's heart attack and that the company was reckless in promoting the drug.
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Merck &amp; Co. profits plunged in the third quarter in the wake of the recall of its Vioxx arthritis drug and Eli Lilly &amp; Co.
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In a move that sends millions of people searching for new relief, Merck yesterday recalled its best-selling Vioxx painkiller after a study showed the drug doubled the risk of a heart attack or stroke.
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Better-than-expected profit news from Merck also raised the mood on Wall Street, helping shares partly recover from a steep sell-off Friday.
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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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Merck & Co Inc. MRK.N pulled its  arthritis drug Vioxx off the market on Thursday after a study  showed it doubled the risk of heart attack and stroke. The move  sent the company's shares plunging almost 27 percent and erased  $25 billion of its market value.
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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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Merck reported that fourth-quarter profit plunged 58 percent despite higher revenue as the company took charges for revamping costs, an acquisition and legal reserves.
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Merck &amp; 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&#39;s
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Shares of Merck &amp; Co. plunged nearly 27 percent yesterday, pulling other stocks down with it, after the pharmaceutical giant yanked its Vioxx arthritis drug off the market because of heart safety concerns.
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US drugs company Merck said its profits will fall next year as it continues to feel the pain of the withdrawal of its arthritis drug Vioxx from the market.
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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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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.
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Merck & Co. Inc.MRK.N, reeling from  the recent withdrawal of its Vioxx arthritis drug, on Wednesday  reaffirmed its 2004 earnings outlook but said earnings in 2005  will be lower than analysts had expected.