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Merck
lowers estimate, cites Vioxx sales
Reuters
- New York
MERCK
& Co Inc, the world’s No. 3 drug maker, warned that its
full-year earnings would be below its previous projections, hurt
by slower-than-expected sales of its flagship arthritis drug Vioxx
and the negative impact of foreign exchange rates.
Merck estimated earnings at $3.12 to $3.18 per share, down from
a previous estimate of $3.15 to $3.25. Analysts’ estimates
ranged from $3.10 to $3.25 a share, with a consensus of $3.20, according
to data compiled by research firm Thomson Financial/First Call.
Merck projected second-quarter earnings of 77 to 79 cents per share,
compared with the First Call consensus estimate of 81 cents.
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