Merck Message Board - Msg: 17704290

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Biotech / Medical : Merck

MRK 100.74

-1.1%

1:34 PM EST

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To: Alfred W. Post who started this subject	7/8/2002 2:19:02 AM
From: KeepItSimple	Read Replies (3) of 1580

Massive fraud exposed at Merck: Looking like it will open down 25-50% today. This is 4 times bigger than Worldcom. Makes Enron look like peanuts! Monday July 8, 12:06 am Eastern Time Merck Booked $12.4 Billion in Revenue It Never Collected Drug giant Merck & Co . recorded $12.4 billion in revenue from the company's pharmacy-benefits unit over the past three years that the subsidiary never actually collected, according to a filing with the Securities and Exchange Commission, Monday's Wall Street Journal reported. Merck's Medco unit, which manages pharmacy-benefit programs for employers and health insurers, included as part of its revenue the co -payments collected by pharmacies from patients, even though Medco doesn't receive those funds. Between 1999 and 2001, co -payments represented nearly 10% of Merck's overall reported revenue....

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