Merck feeling pain
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Manufacturing News, Source : TheManufacturer.com
Published : 21 Apr 2005 16:41
Pharmaceutical giant Merck & Co. reports first-quarter profit fell 15 percent, due in large part to painkiller Vioxx being pulled from the market.
The company earned $1.37 billion in the first quart of this year, compared to $1.62 billion during the same period last year. Sales totaled $5.36 billion, down 5 percent from $5.63 billion a year earlier but above the mean analyst estimate of $5.28 billion.
Earlier this year, Merck pulled Vioxx, one of their bestselling drugs, off the market due to safety concerns.
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