Prognosis Good for Merck
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Pharma company weathered a tough year but should ride out its Vioxx troubles.
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Merck and Co  on Wednesday  reported a fourth-quarter loss due to charges related to a  costly settlement related to its withdrawn Vioxx arthritis  drug, but results soundly beat Wall Street expectations.
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Merck &amp; Co. Inc. on Wednesday provided earnings guidance for 2005 that is below the current expectations of Wall Street, while indicating that sales of its key choloesterol drug would soften next year.
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Some large health insurers are feeling vindicated after Merck&#39;s decision to withdraw its painkiller Vioxx from the market because long-term use raises the risk of heart attack or stroke.
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Merck & Co. Inc. MRK.N, 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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FRANKFURT/LONDON  - Shares in German drugs group Merck KGaA  jumped 6 percent on Tuesday on news Erbitux improves overall survival in lung cancer patients, offsetting earlier doubts about the drug's value in treating the disease.
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NEW YORK - As Wall Street sifts through more than 300 third-quarter earnings reports this week, technology and pharmaceutical stocks will be getting some of the closest scrutiny.    The focus on drug companies results from a recent spate of bad news about Merck & Co...
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Novartis stays on track with its third-quarter results.
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Northfield announces clinical trial results that investors can learn from.
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Merck said on Wednesday that short-term studies had shown its planned successor, Arcoxia, to be safer.
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German drugs and chemicals group Merck&#39;s third-quarter operating profit rose by a forecast-beating 42 percent, helped by strong sales of cancer drug Erbitux and liquid crystals for flat screen televisions.
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Merck&#39;s (nyse: MRK - news - people ) decision is based on new three-year data from a clinical trial designed to test the effect of Vioxx on preventing colorectalpolyps.
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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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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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Drugmaker Merck & Co. Inc.   boosted its 2007 earnings forecast on Wednesday, citing  higher-than-expected sales of multiple products, including its  cancer vaccine Gardasil and diabetes drug Januvia.
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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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The beleaguered drug giant&#39;s lowered forecast isn&#39;t as bad as Wall Street expected. But investors still await the long-term prognosis.