Merck stops $2.5 bn painkiller
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Those taking Vioxx are twice as prone to cardiac problems than patients taking a placebo. Shares in Merck, the US pharmaceuticals giant, plunged by 27 per cent yesterday after the company withdrew Vioxx, its
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The withdrawal of painkiller Vioxx will reduce 2005 earnings of Merck &amp; Co. Inc. to between $2.42 and $2.52 a share, below the already diminished expectations of Wall Street analysts, the huge drug maker said Wednesday.
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Merck said lost Vioxx sales and estimated customer returns totaled $492 million in the third quarter, and the recall slashed net income by about $553 million.
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A prescription painkiller used by more than 250,000 Australians to treat arthritis has been withdrawn from sale after a clinical trial found it doubled the risk of heart attack and stroke.
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When pharmaceutical giant Merck &amp; Co. abruptly pulled its arthritis pain medication Vioxx from the marketplace on Sept. 30, more than 2 million patients were taking the drug.
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Merck &amp; Co. shares fell as much as 7 percent to their lowest level in more than eight years after the Wall Street Journal said the drugmaker tried for years to stop safety concerns from hurting sales of its Vioxx painkiller.
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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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Bulging costs keep the drugmaker from showing a profit.
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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in heavy trading yesterday, a day after medical journal reports offered fresh ammunition to patients suing over its withdrawn painkiller Vioxx.
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U.S. drugs giant Merck & Co Inc. should have pulled its Vioxx painkiller from the market four years ago because data showing it raised the risk of heart attacks has existed since 2000, Swiss scientists said on Friday.
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Vioxx, the blockbuster arthritis drug heavily promoted on TV and taken by some 2 million people worldwide, was pulled from the market by its maker yesterday after a study found it doubled the risk of heart attacks and strokes.
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Merck &amp; Co Inc. should have pulled the arthritis drug Vioxx off the market in 2000, because there was enough evidence that showed it was associated with an increased heart attack risk, according to researchers.
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Fitch Ratings on Thursday cut Merck &amp; Co. Inc.&#39;s (MRK.N: Quote, Profile, Research) top &quot;AAA&quot; rating by two notches, citing its withdrawal of the arthritis drug Vioxx and subsequent
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Tampa, Florida - If you or someone you know is taking the arthritis drug, Vioxx, itâs been pulled from the market. The manufacturer, Merck &amp; Co.
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WASHINGTON, Feb. 14  â Merck & Company agreed Wednesday to pay $2.3 billion to resolve several tax disputes, the Internal Revenue Service said.
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WASHINGTON -- Merck &amp; Co., which stopped selling its blockbuster Vioxx drug due to heart problems caused by the painkiller, manipulated the design of a key study for a new painkiller to minimize its cardiovascular risks and increase chances of approval, a federal whistle-blower says.
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An estimated 2 million Americans are taking the blockbuster pain reliever Vioxx, which is being withdrawn from the market because of concerns about heart attacks and strokes.