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Biotech / Medical : Merck -- Ignore unavailable to you. Want to Upgrade?

To: William F. Wager, Jr. who wrote (1076)	12/9/1998 2:52:00 PM
From: Anthony Wong	Respond to of 1580

Merck 'Optimistic' About Quick Regulatory Review of Vioxx Bloomberg News December 9, 1998, 2:13 p.m. ET Merck 'Optimistic' About Quick Regulatory Review of Vioxx Whitehouse Station, New Jersey, Dec. 9 (Bloomberg) -- Merck & Co., the world's biggest drugmaker, said it is optimistic about the changes of getting quick regulatory review of its experimental painkiller Vioxx. Merck also disclosed for the first time that Vioxx is statistically no more likely to cause stomach ulcers than a placebo, or sugar pill. That finding is important because Vioxx is likely to be prescribed for long-term use in patients suffering from arthritis, who risk developing ulcers when they use existing painkillers. Merck shares rose 11/16 to 159 3/8. Merck told analysts that after three months, 7.3 percent of patients on placebo had ulcers, compared to 4.7 percent of those who received a 25 milligram daily dose of Vioxx and 8.1 percent of those who received 50 milligrams. By comparison, 28.5 percent of those treated with the painkiller ibuprofen developed ulcers. Merck presented the research on Vioxx at its analyst meeting in Whitehouse Station, New Jersey. Edward Scolnick, president of Merck's research laboratories, also said he was ''optimistic'' that the U.S. Food and Drug Administration would grant Merck expedited review of Vioxx. Merck submitted its U.S. Food and Drug Administration application for Vioxx in November. Merck is looking to Vioxx to offset the expected loss of patent by 2001 on four drugs with combined 1997 sales of $3.5 billion. Rival Monsanto Co.'s Celebrex is expected to be the first of a new class of painkillers, the Cox-2 drugs. These appear to treat pain and swelling without the side effects of existing painkillers, which can cause stomach bleeding. Vioxx and Celebrex are each expected to have annual sales of more than $1 billion. If Merck wins accelerated review of Vioxx, it could be introduced about six months after Celebrex. If not, it could follow by about a year. --Kerry Dooley in Whitehouse Station through the Washington news.com

To: William F. Wager, Jr. who wrote (1076)	12/9/1998 3:05:00 PM
From: Anthony Wong	Respond to of 1580

Merck & Co. Reiterated 'Buy' at Sutro Bloomberg News December 9, 1998, 12:53 p.m. ET Princeton, New Jersey, Dec. 9 (Bloomberg Data) -- Merck & Co., Inc. (MRK US) was reiterated ''buy'' by analyst D. Larry Smith at Sutro & Co. The 12-month target price is $170.00 per share.

To: William F. Wager, Jr. who wrote (1076)	12/9/1998 3:09:00 PM
From: Anthony Wong	Respond to of 1580

Merck to Add 700 Sales Reps, Seek Expanded Zocor Use (Update2) Bloomberg News December 9, 1998, 12:42 p.m. ET Merck to Add 700 Sales Reps, Seek Expanded Zocor Use (Update2) (Adds that Merck will present this afternoon on research programs in 7th through 9th paragraphs, comment from chairman in 9th and 10th paragraphs. ) Whitehouse Station, New Jersey, Dec. 9 (Bloomberg) -- Merck & Co., the world's biggest drugmaker, said it will add about 700 new sales representatives in the U.S. next year, expanding its current sales force of about 4,000 by 17.5 percent. The maker of the cholesterol-reducer Zocor and anti-baldness pill Propecia reviewed other steps it is taking to boosts its sales at an analysts' meeting. Merck also is seeking to add new benefits to the label for Zocor, its top-selling product with more than $3 billion in 1997 sales. Merck has been facing increased competition for Zocor sales in the past year from Warner-Lambert Co.'s similar drug Lipitor, which Pfizer Inc. helps market. Merck said it is seeking U.S. Food and Drug Administration approval to cite Zocor's ability to boost levels of HDL, the ''good cholesterol,'' in some patients. ''Pfizer and Warner-Lambert are formidable competitors,'' said Viren Mehta, an analyst with Mehta Partners, which has a ''buy'' rating on Merck. ''Merck is going to use every opportunity it can'' to try to boost Zocor sales. Merck said its mid-October filing was based on studies in which HDL rose about 13 percent to 16 percent for certain Zocor patients. Zocor sales rose 10 percent to $990 million while sales of Lipitor, introduced in 1997, more than doubled to $569 million. Merck rose 5/16 to 159 in midday trading. The company, based in Whitehouse Station, New Jersey, earlier touched a record high of 160 1/4. Later this afternoon, Edward Scolnick, president of Merck Research Laboratories, will give an update on the company's next potential blockbuster, the painkiller Vioxx. He also will speak on some of Merck's current projects in development. Scolnick leads a research program often considered the best in the drug industry. Still, rival Monsanto Co. could win FDA approval within a month of a painkiller, Celebrex, similar to Merck's Vioxx. Merck is at least several months behind Monsanto in the race to introduce the first of a new class of painkillers, the Cox-2 drugs. These appear to treat pain and swelling without the side effects of existing painkillers, which can cause stomach bleeding. Vioxx and Celebrex are each expected to have annual sales of more than $1 billion. Vioxx ''will be an important contributor'' to boosting Merck's profit, said the company' chief executive, president and chairman, Raymond Gilmartin, in comments this morning at the meeting. ''We strive for long-term earnings-per-share growth in the top quartile of our peer group, which is made up of 12 large-cap, multinational pharmaceutical companies such as Pfizer, Lilly and Glaxo Wellcome,'' Gilmartin said. Gilmartin did not comment directly on analysts' estimates in his speech. Chief executives often do address how ''comfortable'' they are with current estimates of how much profit their companies will earn at these kinds of meetings. Gilmartin will speak again later today. --Kerry Dooley in Whitehouse Station through the Washington