Friday, April 07, 2006

Merck & Co. Is Losing Ground Following Vioxx Ruling

A New Jersey jury awarded compensation of $4.5 million to one of the two plaintiffs in a lawsuit which claimed that Merck & Co.'s (MRK charts news Powerrating) Vioxx contributed to heart attacks. The jury rejected the other plaintiffs claims. Merck is currently trading lower by 1.57 on 7K shares Thursday morning on Inet.
Merck & Co. climbed to the upside during the later half of Wednesday morning and rose further during the final hour, to finish up by 0.51 at $35.99. The stock closed just below the upper end of a 7-week range at the highs of the year.

A Look at Merck & Co., Maker of Vioxx

Merck & Co., the world's No. 7 pharmaceutical company by 2005 sales, was founded in New York City in 1891 by George Merck as the U.S. branch of his family's company _ German chemical manufacturer Merck, which dates to 1668. In 1902, he established a manufacturing facility in Rahway, N.J., which later added a research lab and served as Merck's headquarters until its move to Whitehouse Station, N.J., in 1992.
In 1919, Merck split his company from its German parent, now known as Merck KGaA. He later was succeeded by son George W. Merck. The company merged with Sharp & Dohme in 1953 and converted from chemical manufacturer to a pharmaceutical research and manufacturing firm.
Headquarters: Whitehouse Station, N.J.
Other key facilities: Rahway, N.J.; West Point and Upper Gwynedd, Pa.
Employees, 2005: 61,500 worldwide; of that, 31,900 in U.S.
Revenue/net income, 2005: $22 billion/$4.6 billion
CEO: Richard T. Clark
Key drugs:
_Zocor, the company's top-selling medicine and the second-most popular cholesterol drug in the country. It loses patent protection in June.
_Vytorin and Zetia, also for high cholesterol
_Fosamax, top osteoporosis treatment
_Singulair, for asthma and seasonal allergies
_Cozaar and Hyzaar, for high blood pressure

Sources: Merck & Co., health information company IMS Health