Merck's Q3 income suffers as it prepares for Vioxx charges
This article was originally published in Scrip
Executive Summary
A $950 million legal reserve set-up to pay-out charges levied against Merck & Co related to the arthritis pain relief drug Vioxx (rofecoxib) plus the costly acquisition of Schering-Plough drove the company's net income down by 89% to $342 million in the third quarter.