Merck continues to count cost of Vioxx withdrawal
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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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By Rosie Murray-West, City Correspondent (Filed: 01/10/2004). US pharmaceutical giant Merck lost about a quarter of its value yesterday after it pulled arthritis drug Vioxx owing to concerns over heart attacks as a side-effect.
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NEW YORK - Should Merck have conducted a bigger trial to test the safety of its arthritis drug Vioxx? Merck (nyse: MRK - news - people ) pulled Vioxx from the market two weeks ago, but questions about the
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Merck&#39;s (MRK:NYSE - news - research) withdrawn painkiller, Vioxx, could soon leave pharmacy benefit manager (PBM) Medco (MHS:NYSE - news - research) with its own headaches.
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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in heavy trading yesterday, a day after medical journal reports offered fresh ammunition to patients suing over its withdrawn painkiller Vioxx.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 - The stunning news Thursday that Merck &amp; Co. is withdrawing its pain reliever Vioxx from the market because of health risks is the latest in a series of blows to what only a few years ago was the
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Federal prosecutors and the Securities and Exchange Commission are investigating Merck &amp; Company in connection with Vioxx, the painkiller that was pulled from the market in late September
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Hundreds of patients and physicians have contacted a special information line set up by Merck-Israel in the last few days after the international pharmaceutical company voluntarily withdrew Vioxx - one of the world&#39;s most popular arthritis and acute
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More than 3,000 former users of Merck & Co's withdrawn Vioxx pain drug have already signed up to take part in a $4.85 billion settlement deal that a federal judge on Friday declared was in the best interests of both sides.
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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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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's side effects -- lawsuits that threaten to further damage the company's finances and reputation.
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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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Pharmaceutical giant Merck &amp; Co., under siege over revenues lost since it recalled arthritis drug Vioxx, will have cut about 5,100 jobs by year&#39;s end, 700 more than first planned, and will slash costs by $2.4 billion over four years, chairman and CEO
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Industry analysts are predicting US regulators this month will refuse to approve Merck &amp; Co.&#39;s new arthritis drug until at least 2006 because of heart attacks linked to its recalled sister drug Vioxx.
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NEW YORK -- Merck &amp; Co.'s campaign to defend itself in the wake of the recall of the pain reliever Vioxx intensified last week, as it placed a package of three full-page ads in seven prominent newspapers beginning last Friday. That follows several television appearances, as well as testimony before Congress by the company's chief executive.
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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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Drugmaker Merck has set up an independent committee to review the firm&#39;s actions prior to the withdrawal of its painkiller Vioxx from the market in September.