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Tester32 · 08-12-2004, 14:45

Associated Press
Merck Cuts Outlook for 2005
Wednesday December 8, 9:05 am ET
Merck Puts Earnings Outlook for 2005 Below Analysts' Estimates Due to Vioxx Withdrawal

WHITEHOUSE STATION, N.J. (AP) -- Merck & Co. Inc. said Wednesday it expects the withdrawal of its Vioxx painkiller from the market to reduce full-year earnings by 50 cents to 55 cents a share.

The company said it now expects full-year earnings to be in the range of $2.59 to $2.64 per share, reflecting the Vioxx impact, and estimates fourth-quarter net income at 48 cents to 53 cents per share. The company said the Vioxx withdrawal will result in a reduction to sales of $700 milllion to $750 million.

The drug maker also lowered its guidance for 2005, saying it expects earnings in the range of $2.42 to $2.52 per share, below the current analysts' estimate of $2.56 per share.

The earnings guidance does not "reflect the establishment of reserves for any potential liability for settlements relating to the Vioxx lawsuits," the company said.

Analysts surveyed by Thomson First Call currently expect Merck to report earnings of 50 cents for the 2004 fourth quarter and $2.61 for the year.

08-12-2004, 14:45	#66
Tester32 TBB Family Registriert seit: Jan 2004 Beiträge: 2.209	Merck Cuts Outlook for 2005 Associated Press Merck Cuts Outlook for 2005 Wednesday December 8, 9:05 am ET Merck Puts Earnings Outlook for 2005 Below Analysts' Estimates Due to Vioxx Withdrawal WHITEHOUSE STATION, N.J. (AP) -- Merck & Co. Inc. said Wednesday it expects the withdrawal of its Vioxx painkiller from the market to reduce full-year earnings by 50 cents to 55 cents a share. The company said it now expects full-year earnings to be in the range of $2.59 to $2.64 per share, reflecting the Vioxx impact, and estimates fourth-quarter net income at 48 cents to 53 cents per share. The company said the Vioxx withdrawal will result in a reduction to sales of $700 milllion to $750 million. The drug maker also lowered its guidance for 2005, saying it expects earnings in the range of $2.42 to $2.52 per share, below the current analysts' estimate of $2.56 per share. The earnings guidance does not "reflect the establishment of reserves for any potential liability for settlements relating to the Vioxx lawsuits," the company said. Analysts surveyed by Thomson First Call currently expect Merck to report earnings of 50 cents for the 2004 fourth quarter and $2.61 for the year.