Merck shares rebound slightly
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BOSTON (CBS.MW) - Shares of Merck and rivals Pfizer and Novartis all closed higher Friday, the day after Merck announced that it was abruptly pulling its hugely popular anti-inflammatory drug Vioxx from the market due to safety concerns.
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Stocks edged higher on Tuesday as a favorable court ruling for the pharmaceutical sector lifted shares of drugmakers, including Bristol-Myers Squibb Co. , while a pullback in benchmark bond yields tempered interest rate worries.
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NEW YORK, July 23 -- Stocks rebounded Monday after a fresh round of buyout news offered evidence that Wall Street's penchant for dealmaking has not disappeared.
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Nastech shares jump before the bell after companies say they will jointly create the new treatment. NEW YORK  - Merck &amp; Co.
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Pharmaceutical stocks were trading slightly higher after news Thursday that GlaxoSmithKline Plc was going to settle with New York Attorney General Eliot Spitzer over allegations the company hid safety studies for its anti-depressant Paxil.
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Pfizer Inc. shares rebounded on  Tuesday as a study of Alzheimer's patients found that its  arthritis drug Celebrex carried no increased cardiovascular  risks, differing from findings of a study in cancer patients  released last week.
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Stocks rebounded on Thursday as mildly encouraging employment and manufacturing data provided relief to investors worried about the economy, a day after an unusually weak start to 2008.
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Stock index futures signaled a modest  rebound on Wall Street on Thursday ahead of results from  companies including Merrill Lynch , Bank of New York  Mellon  and Washington Mutual .
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Pfizer Inc. shares staged a rebound Tuesday, spurred in part by what Wall Street viewed as positive publicity about its Celebrex drug.
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Merck & Co.  said on Monday that quarterly earnings rose 12 percent on strong demand for its newer vaccines and medicines, and raised its 2007 profit forecast, sending its shares up 4 percent.
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Wall Street finished moderately higher in fitful trading Thursday as investors, still nervous about the economy, decided to buy back into the market.
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U.S. stocks closed higher on  Wednesday, as the dollar strengthened and shares of Merck & Co.  MRK.N helped lift the Dow after the drugmaker gave a forecast  that was not as weak as some on Wall Street had expected.
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European equity markets edged slightly lower shortly after the opening on Thursday after rallying in the previous session but a major deal in the pharmaceutical sector boosted sentiment and results from Pernod Ricard provided further early interest.
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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 & 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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Stocks rose on Thursday as a rebound in global equity markets helped boost financial shares and robust monthly sales from some retailers relieved worries about the economy's health.
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BOSTON -- Nastech Pharmaceutical Co. Inc. stock rose Thursday, apparently on speculation that Merck &amp; Co.&#39;s withdrawal of Vioxx will mean that Merck has to lean more heavily on Nastech for a new blockbuster drug.