March 12, 2005 |
Merck & Co., which pulled its Vioxx painkiller from the market last year in the biggest drug recall, said it probably doesn't have enough insurance to cover the costs of lawsuits associated with the withdrawal. The company has $630 million in product liability insurance for Vioxx, after deductibles and co-insurance, Whitehouse Station, N.J.-based Merck said in a Securities and Exchange Commission filing.
January 15, 2005 |
An FDA advisory panel Friday rejected for the second time Merck & Co.'s bid to sell its cholesterol-lowering drug Mevacor to consumers without a prescription, citing the drug's risk of inducing birth defects and the need for patients to consult with a physician before embarking on a long-term drug regimen.
January 26, 2005 |
Three major U.S. drug makers reported weaker results Tuesday as Merck & Co. was hit by costs from its Vioxx withdrawal and Schering-Plough Corp. and Johnson & Johnson took charges to pay taxes on repatriated earnings. But shares of all three rose as J&J's earnings beat Wall Street forecasts and Merck sales edged higher despite the loss of as much as $750 million in potential Vioxx sales for the quarter.
November 12, 2005 |
The next Vioxx product-liability case to come to trial in New Jersey probably will be a tougher battle for manufacturer Merck & Co., which last week got its first courtroom victory in a case involving short-term use of the now-withdrawn painkiller. New Jersey Superior Court Judge Carol E.
October 31, 2005 |
For Merck & Co., another courtroom defeat over its painkiller Vioxx would be a prescription for trouble. The pharmaceutical company, whose fortunes soared partly on the strength of the drug's popularity, is awaiting the outcome of the second Vioxx product liability case to go to trial. A jury is expected to decide this week whether the Whitehouse Station, N.J.-based company is liable for the heart attack suffered by Idaho postal worker Frederick "Mike" Humeston.
September 7, 2005 |
A new vaccine that combines four childhood immunizations has won approval from the U.S. Food and Drug Administration, Merck & Co. said Tuesday. The vaccine, called Proquad, is approved to protect children 12 months to 12 years of age against measles, mumps, rubella and chickenpox.
June 22, 2002 |
Merck & Co. said its Medco unit acted properly when it booked revenue from patient co-payments to pharmacies that it never collected, but its shares fell on a report that questioned the practice. Shares of Merck fell $2.22 to $49.98 on the NYSE, their lowest level since late 1997. Merck declined to comment on how the report about its Merck-Medco unit might affect the company's planned spinoff of about 20% of Medco through an initial public offering, which Wall Street expects next week.
July 18, 2002 |
Merck & Co. said smaller rival Ivax Pharmaceuticals Inc. infringed its patents to create a version of Fosamax, a drug that treats bone loss associated with age. Lawyers for Merck say in a lawsuit filed Monday in federal court in Delaware that Ivax is using the inventions, patented between 1986 and 2001, and has applied to the Food and Drug Administration to sell a generic version of Fosamax in the U.S. Shares of Whitehouse Station, N.J.-based Merck rose 49 cents to $44.50 on the NYSE.
February 21, 2007 |
Merck & Co., bowing to pressure from parents and medical groups, is immediately suspending its lobbying campaign to persuade state legislatures to mandate that adolescent girls get the company's new vaccine against cervical cancer as a requirement for school attendance. The drug maker, which announced the change Tuesday, had been criticized for quietly funding the campaign, via a third party, to require that 11- and 12-year-old girls get the three-dose vaccine in order to attend school.
July 26, 2007 |
The increased heart risk from Vioxx, Merck & Co.'s withdrawn arthritis medicine, begins much earlier than after 18 months of use, according to a study contradicting assertions by the drug maker and its scientists. The 2,434-patient study, published in the New England Journal of Medicine, was halted early when the medicine was pulled from the market in September 2004. Although the median duration of treatment was only 7.