Merck plunges nearly 10 percent as Vioxx pain intensifies
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Drugs giant Merck and Co. shares plunged nearly 10 percent as the Wall Street Journal said the firm had fought for years to minimize the risks in its blockbuster pain drug Vioxx.
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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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In New York, the blue-chip Dow Jones average fell on Thursday after drug maker Merck &amp; Co withdrew its widely used Vioxx painkiller after evidence showed the drug could increase risk of heart attack and stroke.
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Shares of Merck and Co. plunged nearly 27 percent Thursday on news that the pharmaceutical giant was pulling the popular arthritis pain medication Vioxx off the market.
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The withdrawal of painkiller Vioxx means Merck &amp; Co. will miss the already diminished expectations of Wall Street analysts for 2005, the drug maker said yesterday.
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Pharmaceutical titan Merck &amp; Co. Inc. yesterday pulled its blockbuster arthritis drug Vioxx off the market, citing safety concerns, thereby triggering a massive selloff in the company&#39;s shares that wiped out nearly US$27-billion of Merck&#39;s market value.
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The U.S. Dow Jones Industrial average declined on Thursday after drug maker Merck & Co. recalled its widely sold Vioxx painkiller and its stock sunk 27 percent.
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The recall of Vioxx--an arthritis treatment taken by millions of people--is a disaster for everyone. Of course it&#39;s bad news for Merck (nyse: MRK - news - people), the drug&#39;s maker.
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TRENTON, N.J. -- Shares of drug maker Merck &amp; Co. dropped 2.5 percent in heavy trading yesterday, a day after medical journal reports offered fresh ammunition to patients suing over its withdrawn painkiller Vioxx.
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NEW YORK - Already wounded by the withdrawal of its Vioxx pain reliever from the market, Merck &amp; Co. must now contend with hundreds of lawsuits over the drug&#39;s side effects - lawsuits that threaten to further damage the company&#39;s finances and reputation.
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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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Now that Merck &amp; Co.&#39;s $2.5 billion annual revenues from anti-inflammatory COX-2 inhibitor VIOXXÂ® are history, the next question is what happens to the even greater amount of money ($3.
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U.S. blue chips fell on Thursday after  drug company Merck & Co.MRK.N said it was withdrawing its key  arthritis drug Vioxx, while relentless oil prices floated back  to $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 said lost Vioxx sales and estimated customer returns totaled $492 million in the third quarter, and the recall slashed net income by about $553 million.
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NEW YORK - Investors sent stocks mostly lower Thursday after Merck & Co. said it would be forced to remove its best-selling Vioxx arthritis drug from the market due to serious health risks...
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Shares of Merck and Co. plunged nearly 27 percent Thursday 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.