Merck Profits Hurt by Withdrawal of Vioxx
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Merck and Co. Inc. MRK.N on Tuesday  said fourth-quarter earnings fell 21 percent, hurt by the  withdrawal last September of its blockbuster arthritis drug  Vioxx and related charges.
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Merck & Co Inc. on Thursday pulled its  arthritis drug Vioxx off the market after a study showed it  doubled the risk of heart attack and stroke, a move that sent  its shares plunging and erased $25 billion from its market  value.
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Merck and Co  on Wednesday reported a fourth-quarter loss due to a number of charges, including for a costly settlement related to its withdrawn Vioxx arthritis drug.
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Merck & Co. Inc., reeling from the recent withdrawal of its Vioxx arthritis drug, said Wednesday it expects 2005 earnings of &#36;2.42 to &#36;2.52 a share -- a decline from expected 2004 results.
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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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Merck & Co. Inc. MRK.N, 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 & Co.  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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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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The withdrawal of Merck &amp; Co. Inc.&#39;s arthritis drug Vioxx will make it harder for drug companies to win approval for products aimed at big patient populations as regulators
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Merck &amp; Co. said it&#39;s withdrawing its Vioxx painkiller, which generated $2.5 billion in worldwide sales last year, because of data showing an increased risk of heart attack and stroke.
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Merck &amp; Co.&#39;s decision to pull its Vioxx anti-arthritis drug from the markets due to severe side effects left pharmaceutical sector mixed Thursday.
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Merck &amp; Co.'s decision to pull its widely prescribed drug Vioxx off the shelves yesterday because of a risk of stroke and heart attacks marked a new low for a pharmaceutical company that has suffered a steady decline in both market position and prestige over the last decade.
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Merck &amp; Co., Inc., knew of problems with its blockbuster painkiller Vioxx long before the drug was pulled from the market in September due to newer studies that linked the medication to an increased risk of heart attack and stroke, the Wall Street Journal
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Merck &amp; Co. withdrew its Vioxx painkiller, which generated $2.5 billion in sales last year, because of a link to heart attacks and strokes.
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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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Merck, the beleaguered US pharmaceuticals group, could be forced to pay out as much as $18bn (Â£9.7bn) over 10 years as a result of lawsuits linked to Vioxx, its controversial arthritis drug.
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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.