Merck&#39;s Debt Rating Lowered by S&amp;P on Vioxx Risks
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Merck &amp; Co., the second-largest US drugmaker, lost its AAA credit rating from Standard &amp; Poor&#39;s because of revenue losses and potential liabilities from the company&#39;s September recall of the Vioxx painkiller.
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Pharmaceutical giant Merck &amp; Co. said Thursday that third-quarter earnings dropped significantly year-over-year on charges related to the withdrawal of Vioxx from the market.
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US blue chips fell on Thursday after drug company Merck &amp; Co.(MRK.N: Quote, Profile, Research) said it was withdrawing its key arthritis drug Vioxx, while relentless oil prices floated back to $50 a barrel.
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NEW YORK - Merck &amp; Co. Inc. has adopted a severance benefits plan aimed at protecting key managers in the event the company is taken over - a growing possibility since the withdrawal of arthritis drug Vioxx sent shares tumbling.
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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Merck&#39;s (MRK:NYSE - news - research) withdrawn painkiller, Vioxx, could soon leave pharmacy benefit manager (PBM) Medco (MHS:NYSE - news - research) with its own headaches.
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Merck & Co. Inc. MRK.N, reeling from  the recent withdrawal of its Vioxx arthritis drug, on Wednesday  said 2005 earnings will decline to levels below Wall Street  expectations, the third straight year of lower results.
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The U.S. Dow Jones Industrial average  declined on Thursday after drug maker Merck & Co.MRK.N  recalled its widely sold Vioxx painkiller and its stock sunk 27  percent.
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NEW YORK : Standard and Poor&#39;s downgraded the credit rating of US carrier Delta Air Lines, which had already been considered vulnerable to default.
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Drug maker Merck & Co. Inc. MRK.N  dominated trading in U.S. stocks on Thursday, single-handedly  driving the 30-stock Dow Jones average lower after it withdrew  its arthritis drug Vioxx because a study showed it doubled the  risk of heart attack and stroke.
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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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U.S. stock futures pointed to a  slightly lower open on Tuesday as investors take a step back  after last week's three-day rally, with shares of drug maker  Merck & Co. MRK.N under pressure as regulators step up  investigations into the company's withdrawal of its pain  reliever, Vioxx.
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Shares of Merck and Co. plunged nearly 27 percent Thursday on news that the pharmaceutical giant was pulling the popular arthritis pain medication Vioxx off the market in the largest drug withdrawal in US history.
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Merck &amp; Co.'s decision to pull its widely prescribed drug Vioxx off the shelves yesterday because of a risk of stroke and heart attacks marked a new low for a pharmaceutical company that has suffered a steady decline in both market position and prestige over the last decade.
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Pharmaceutical giant Merck &amp; Co., under siege over revenues lost since it recalled arthritis drug Vioxx, will have cut about 5,100 jobs by year&#39;s end, 700 more than first planned, and will slash costs by $2.4 billion over four years, chairman and CEO
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Merck & Co Inc. MRK.N pulled its  arthritis drug Vioxx off the market on Thursday after a study  showed it doubled the risk of heart attack and stroke. The move  sent the company's shares plunging almost 27 percent and erased  $25 billion of its market value.
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Merck & Co Inc. Thursday pulled its  arthritis drug Vioxx off the market because it increases the  risk of heart attack and stroke, a move that sent its shares  plunging, erasing $25 billion of its market value.