Merck in $2.3 bln IRS tax deal
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Merck & Co. Inc.  has agreed to pay $2.3 billion to settle a tax dispute with the U.S. Internal Revenue Service, the drugmaker said on Wednesday, but other tax disputes with U.S. and Canadian authorities totaling $3.26 billion remain unresolved.
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The company earned $761 million after the $2.8 billion pretax charge to end investment in the inhaled insulin drug.
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British pharmaceutical group GlaxoSmithKline said it had settled a tax dispute with the US government at a cost of about 3.1 billion dollars (2.44 billion euros) to GSK.
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NEW YORK - Wall Street closed out a dismal third quarter with a mixed performance Thursday after Merck & Co. said it would be forced to remove its best-selling Vioxx arthritis drug from the market...
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Drugmaker Merck & Co. Inc.  boosted its 2007 earnings forecast on Wednesday, based on early revenue indications from a range of products, sending its shares up nearly 3 percent in early electronic trading.
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WHAT a pill Vioxx turned out to be for Merck. Between 50 cents and 60 cents a share were lopped off expected earnings this year after the US pharmaceutical giant gave up defending its painkiller in public
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German drugmaker Merck KGaA   unveiled a surprise 16.6-billion-Swiss franc ($13.3  billion) deal to buy Swiss biotech firm Serono on Thursday,  creating a new force in European pharmaceuticals.
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Private equity firm The Carlyle Group is mulling a bid for the generics business of Germany's Merck KGaA , a unit worth at least 4 billion euros ($5.3 billion), a source close to the process said.
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Swiss biotech company Addex  Pharmaceuticals SA  could receive more than $700  million from Merck & Co Inc  for a licensing deal on its  ADX63365 drug for schizophrenia, it said on Thursday.
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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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By Christopher Bowe and Andrew Jack in Whitehouse Station, New Jersey. Merck has quickened the pace of its restructuring with plans to cut a further 700 jobs, targeting about $3bn in savings by the end of 2008
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Drugs giant GlaxoSmithKline agrees to pay out a record $3.1bn to end a tax row with the US government.
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British pharmaceutical group GlaxoSmithKline said it had agreed to pay the US Treasury about 3.1 billion dollars (2.44 billion euros) after settling out of court a long-running tax dispute.
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Under a plan recently passed by Merck &amp; Co. Inc.âs board of directors, members of the firmâs management committee and the companyâs vice president-level managers may be compensated with severance packages
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Bowing to pressure from an Icos Corp.  shareholder, Eli Lilly and Co.  said on Monday it has increased its offer for the biotechnology company to $2.3 billion from an earlier bid of $2.1 billion.
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Merck &amp; Co. Inc. said Wednesday it expects the withdrawal of its Vioxx painkiller from the market to reduce full-year earnings by 50 cents to 55 cents a share.
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NEW YORK, November 30  - Merck &amp; Co (MRK.NYS) has adopted a new compensation plan aimed at retaining its senior management officials in case of a possible takeover.