Merck & Co.'s (MRK) report of improved second-quarter earnings was overshadowed Monday by a new study raising questions about its cholesterol drugs, while the quarterly numbers confirmed fears of a slowdown in sales of cervical-cancer vaccine Gardasil.
Merck shares dropped $2.35, or 6%, to $35.33 in 4 p.m. trading on concerns about the newly released study of cholesterol drugs Vytorin and Zetia, which are marketed by a joint venture of Merck and Schering-Plough Corp. (SGP).
Another key area of concern has been Merck's Gardasil cervical-cancer vaccine. The vaccine, which went on sale in 2006, had strong growth for much of 2007. But second-quarter sales fell 9% to $326 million. Investors have been concerned about Gardasil's sales growth particularly since July 7 when a UBS analyst predicted second-quarter sales weakness and downgraded the stock.
Merck blamed the sales slowdown partly on a deceleration among use of Gardasil by girls and women ages 13 to 18, as well as a lower-than-expected uptake by women ages 19 to 26. Gardasil is approved for use by females aged 9 to 26.
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Last
$308.10 |
Change
-0.390(0.13%) |
Mkt cap ! $149.0B |
Open | High | Low | Value | Volume |
$309.00 | $309.00 | $307.26 | $114.0M | 370.1K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 949 | $308.10 |
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Price($) | Vol. | No. |
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$308.60 | 100 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 949 | 308.100 |
1 | 835 | 308.030 |
1 | 3200 | 307.990 |
1 | 714 | 307.970 |
1 | 260 | 307.960 |
Price($) | Vol. | No. |
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308.600 | 100 | 1 |
308.700 | 539 | 1 |
308.980 | 800 | 1 |
309.000 | 1314 | 6 |
309.090 | 72 | 1 |
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