Merck stock plummets on news of Vioxx recall
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Shares of Merck plunged nearly 27 percent yesterday on news that the pharmaceutical giant was pulling the popular arthritis pain medication Vioxx off the market in the largest drug withdrawal in US history.
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The blue-chip Dow Jones average fell  on Thursday after drug maker Merck & Co., a member of the Dow,  recalled its widely sold Vioxx painkiller and oil prices  hovered around $50 a barrel.
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Merck&#39;s withdrawal of its arthritis treatment sent the stock tumbling more than 25 percent and pushed the Dow into deeply negative territory at the open Thursday.
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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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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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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 &amp; Co., under siege because of lost revenues from its recalled blockbuster arthritis drug Vioxx, will cut about 5,100 jobs by year&#39;s end, more than originally planned, and will slash hundreds of millions of dollars in spending, Chairman Raymond V
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Merck posted a $1.63 billion fourth-quarter loss on Wednesday as  charges for its Vioxx litigation settlement dragged down results and share prices.
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Pharmaceutical giant Merck &amp; Co. said Thursday that third-quarter earnings dropped significantly year-over-year on charges related to the withdrawal of Vioxx from the market.
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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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Pharmaceutical giant Merck &amp; Co. abruptly ordered a worldwide recall of its premier arthritis drug Vioxx on Thursday after a company-run study confirmed that long-term use of the pills increased risk of heart attack and stroke.
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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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US STOCKS slipped yesterday as drug-maker Merck recalled its widely sold Vioxx arthritis drug, and oil resumed its climb to $50 a barrel.
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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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The blue-chip Dow Jones average was  knocked lower on Thursday after drug maker Merck & Co.MRK.N,  a member of the Dow, recalled its widely sold Vioxx painkiller  and oil prices hovered around $50 a barrel.
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NEW YORK, Nov. 11 -- The 40 percent share price slide in Merck &#38; Co. in the five weeks after it pulled the painkiller Vioxx off the market highlighted larger problems in the pharmaceutical industry that may depress performance for years, according to academics and stock analysts who follow the sector.
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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.