Merck in Lukewarm Water
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The pharmaceutical's settlement ends a government probe.
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Shares of Merck &amp; Co. plunged almost 10 percent yesterday after a media report said that documents show the pharmaceutical giant hid or denied
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U.S. blue chips were lower on Thursday  after drug company and Dow component Merck & Co.MRK.N said it  was withdrawing a key drug, casting a dark mood over the market  as oil prices remained above $49 a barrel.
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YESTERDAY Close $54.64 Change +$1.53 52-WEEK High $55.14 Low $42.29 Merck &amp; Co., the third-largest US drug maker, reported a 63 percent increase in earnings and raised its forecast for the year after a vaccine for cervical cancer and a new pill for diabetes drove sales higher.
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The oil market ignores Saudi attempts to cool prices. Merck reportedly is stepping up its search for a new CEO. Wall Street looks to ease into the week with a slight rise at the open, despite higher oil prices.
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Merck & Co.  said on Friday it would delay seeking approval for a combination pill designed to lower "bad" cholesterol, increase "good" cholesterol and avoid a common side effect of one of the ingredients.
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Shares of Merck and Co. plunged almost nine per cent Monday after a media report said that documents show the pharmaceutical giant hid or denied evidence for years that its blockbuster
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As worries for its anemia drugs abate, investors will start to worry about Merck and Novartis.
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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 huge drug maker said Wednesday.
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Merck&#39;s (MRK:NYSE - news - research) withdrawn painkiller, Vioxx, could soon leave pharmacy benefit manager (PBM) Medco (MHS:NYSE - news - research) with its own headaches.
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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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Pharma company weathered a tough year but should ride out its Vioxx troubles.
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Shares of Merck &amp; Co. plunged Monday after a news report suggested that the company knew about risks associated with its recently recalled Vioxx arthritis medication and tried to cover them up.
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Merck & Co.  on Wednesday stood  by its forecast of flat earnings for 2006 and projected  slightly higher 2007 results, in line with Wall Street  expectations, as the drugmaker grapples with generic  competition for a number of its medicines.
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A week after saying it was withdrawing its $2.5 billion arthritis drug Vioxx from the market and losing a quarter of its stock market value as a result, Merck &amp; Co. will try to dodge the storm clouds and turn its attention tomorrow to a brighter subject with the official opening of its Boston research lab.
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NEW YORK - Merck &amp; Co.&#39;s decision to pull its Vioxx anti-arthritis drug from the markets because of severe side effects left the pharmaceutical sector mixed Thursday.
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Progress on its lead drug remains stalled.