chart von merck - 500 Beiträge pro Seite

[cyber-bob]

Ganz schöner Schuss in den Keller. Bei Nokia und anderen großen Werten fängt sich die Aktie/der chart meistens nach ein paar Tagen auf tiefen Niveau, um dann allmählich zu klettern - ob es wohl auch hier so sein wird. Zahlentechnisch gibts ja doch ein schönes Loch in der Kasse (ca. 50 cent minus pro Aktie)- aber Merck lebt doch auch von anderen Produkten. Kennt jemand zufällig vernünftige Produkte um von einer Erholung evtl. überdurchschnittlich profitieren zu können. Turbos Optionen (Basisi bisher nur bis 40 € bekannt) oder sonstiges ?
Garantie gibts natürlich nie, aber Adrenalin

[muycaro]

Wäre hier vorsichtig. Mal abgesehen von dem Umsatz-/Gewinnverlust pro Aktie (Patentschutz von Vioxx wäre eh bald abgelaufen, daher halb so wild wie es sich hier darstellt) sollte man davon ausgehen, dass einige Anwaltskanzleien in den USA schon darauf brennen für sich und willige Klienten gegen Merck aufzufahren.
Soweit ich weiss haben Vioxx 84M Leute zumindest einmal genommen, 20M regelmässig über eine Dauer von mehr als 18 Monaten. Mein Fazit: abwarten bis absehbar ist, was hier noch kommt. Viel Glück!

[cyber-bob]

werde mit Sicherheit auch noch etwas Abstand nehmen. Hatte bei Bayer und altria ähnliche Strategie, bin erst rein als erste wie immer zu hoch gegriffene Schadensersatz-forderungen im Raum standen und die eingepreist wurden.
Hat schon noch ein wenig Zeit - aber ....werde beobachten.

[AMECO]

Das Nachfolgeprodukt, das weniger Nebenwirkungen aufweist (Arcoxia) ist bereits in einigen Laendern auf den Markt gebracht worden. So auch in Deutschland. In den USA sollte das Produkt wohl im Oktober zugelassen werden, was sich wohl jetzt erstmal verzoegern wird.
Merck hat fuer die Zukunft den richtigen Weg eingeschlagen und an Stelle von riskanten Alleingaengen, zahlreiche Kooperationen abgeschlossen. So z.B. fuer den hoffnungsvollen Cholesterolsenker Inegy/Vytorin mit Schering/Plough, Licensing mit Bristol-M., Johnson&Johnson, Lundbaek, ...etc.
Das taegliche Geschaeft in einem rein forschungsorientierten Unternehmen (ohne jegliche OTC, over the counter drugs) ist sehr risikoreich. Genauso wie Merck kann es auch jedes andere Unternehmen treffen. Das Management ist gut und mit einer Versicherungssumme von $10bn ist Merck relativ gut abgesichert gegen Vioxx-Klagen.
Unter dem Strich sehe ich zwar in naher Zukunft keinen rasanten Anstieg, der Boden aber sollte erreicht sein. Merck sitzt zudem auf sehr viel Cash (eines der nur weltweit 6 Unternehmen, die mit AAA von Moodys und Standard&Poors bewertet). Das Rating wurde heute uebrigens von beiden Agenturen bestaetigt. Zugleich wurde Merck aber auf die Watchlist gesetzt.

[Kurswechsel]

Hier folgt jetzt der im Titel erwähnte Kursgraph:



Zwei Sprünge in den Keller sind es nun schon. Jetzt ist die Frage, ob zu erwartende Schadensersatzforderungen nach US-Recht schon eingepreist sind.

Heftig schlechte Nachrichten gab es dieser Tage nochmals. Deshalb bin ich eingestiegen. Was soll jetzt noch kommen? Eher geschäftliche Entwarnungen - die Gefahr sehe ich nur darin, daß die Anwälte übertreiben könnten im Land der unbegrenzten Ü... jedoch könnte auch diese Befürchtung schon eingepreist sein.

http://news.morningstar.com/news/DJ/M11/D05/200411050027DOWJ…

Merck Faces Rising Pressure to Select New CEO

11-05-04 12:27 AM EST

As questions about the company`s handling of painkiller Vioxx mount, so is pressure on Merck & Co. (MRK) to quickly find a successor to Chairman and Chief Executive Officer Raymond Gilmartin, Friday`s Wall Street Journal reported.

Merck`s shares are skidding, its credit rating is under scrutiny and it may be facing a brain drain after the Vioxx withdrawal raised big questions about the company`s future. Some on Wall Street in particular have called for change.

More pressure arrived Thursday when the British medical journal Lancet published an analysis of public clinical-trial data, concluding that Vioxx should have been withdrawn several years earlier because there already was clinical evidence of harmful side effects. A scathing editorial said approval of Vioxx by regulators and its subsequent sale in the face of evidence showing harm from the drug were "public health catastrophes."

The company has vigorously defended its conduct, saying it pulled Vioxx from the market as soon as officials learned definitively that the once-a-day pill increased the risk of heart attacks and strokes in patients who took the medicine longer than 18 months. Merck said Thursday it was "vigilant in monitoring and disclosing the cardiovascular safety of Vioxx" and that the Lancet study wasn`t based on new data or as comprehensive as the company`s own analyses. "Merck acted responsibly and appropriately as it developed and marketed Vioxx, and made decisions based on all available data at the time," the company said.

With one of the biggest questions looming over Merck concerning who will lead the company out of the morass, Merck has taken the first concrete step to find new leadership, tapping recruiters Heidrick & Struggles International Inc. to conduct a search, inside and outside the company, for a successor to Mr. Gilmartin.

Management and the board have consistently affirmed that it was the company`s longstanding plan to name a successor to Mr. Gilmartin by the end of 2005, with a transition period extending until March 2006, when he reaches Merck`s mandatory retirement age of 65. "The Merck Board of Directors has an orderly, thoughtful and coordinated succession plan in place," a spokesman wrote in an e- mail responding to a request for comment. "The Board is implementing the plan as originally developed."

Current events could speed up that schedule. Search firms usually complete a CEO hunt within six months.

Wall Street Journal Staff Reporters Scott Hensley, Joann S. Lublin and Heather Won Tesoriero contributed to this report.


Dow Jones Newswires
11-05-04 0027ET
Copyright (C) 2004 Dow Jones & Company, Inc. All Rights Reserved.

[Kurswechsel]

Langfristvorhersage erhöht, Daumen runter.


http://www.finanztreff.de/ftreff/news.htm?id=23313358&sektio…

05.11.2004 - 08:52 Uhr
Merrill Lynch senkt Merck-Gewinnschätzung 2005 um 3%

Einstufung: Bestätigt "Sell"
Schätzung Gew/Aktie: 2004: Bestätigt 3,50 EUR
2005: Gesenkt um 3% auf 2,40 EUR
2006 - 2008: Erhöht um je 4%

Infolge des Neunmonatsergebnisses von Merck senkt Merrill Lynch die Gewinnschätzung für das kommende Jahr und nimmt einige Änderungen im Anlagemodell für Merck vor. So erwarten die Analysten, dass 2004 die Gewinne aus dem Bereich Chemie wegen der Abschwächung des LCD-Marktes nachlassen werden. Die Prognosen für den Bereich Pharma hingegen erhöhen die Analysten wegen der guten Umsätze bei Glucophage und Concor. Da das Wachstum im kommenden Jahr insgesamt geringer als erwartet ausfallen werde, senken die Analysten die Gewinnschätzung 2005. Wegen der langfristig besseren Aussichten auf dem LCD- und Pharma-Markt erhöhen sie jedoch die Gewinnschätzungen 2006 bis 2008 um etwa 4%. Die Anlageempfehlung wird auf Grund des derzeitigen Risikoprofils bekräftigt. (ENDE)

Dow Jones Newswires/5.11.2004/kh/sst/gos

[Kurswechsel]

Der alte Fehler: zu früh. In den Vereinigten Staaten gab es heute Meldungen über Anwälte, die sich formieren und auf den Prozeß vorbereiten.

Das war bekannt, allerdings ist die mögliche Schadenssumme sehr hoch. Außerdem drücken auch erwartete schlechte Meldungen. Der jüngste Verlust an Börsenbewertung dürfte dennoch inzwischen etwa das Doppelte des angenommenen höchsten Schadens erreicht haben.

http://www.boston.com/business/articles/2004/11/05/merck_cou…

Merck could suffer from Vioxx lawsuits

By Associated Press | November 5, 2004

NEW YORK -- Already wounded by the withdrawal of its Vioxx pain reliever from the market, Merck & Co. must now contend with hundreds of lawsuits over the drug`s side effects -- lawsuits that threaten to further damage the company`s finances and reputation.

Wall Street analysts are concerned about Merck`s potential legal liability. This week, Standard & Poor`s Corp. warned it might downgrade its ratings on Merck`s debt because of the huge payouts the firm might be forced to make.

Merck withdrew Vioxx from the market Sept. 30 because the drug doubled the risk of heart attacks and strokes in patients taking it longer than 18 months. Merck`s stock plunged nearly 27 percent and the company lost $28 billion in shareholder value after the announcement -- partly in response to the loss of revenue from Merck`s second best-selling drug, but also because of the lawsuits, said Richard Evans, an analyst at Sanford C. Bernstein Research. He estimates Merck`s legal costs could reach $12 billion.

A new analysis by Merrill Lynch concludes Merck`s liability could be as high as $17.6 billion over the next decade or so.

The estimate is based on the possibility of nearly 51,000 successful lawsuits with jury awards or settlements of $100,000 to $300,000 for patients claiming heart attacks or strokes, plus another $1 billion to $2 billion for nuisance lawsuits.

© Copyright 2004 Globe Newspaper Company.

[Kurswechsel]

Der absolute Wahnsinn - Klagen nach US-Schadenrecht.

Aber auch dieser Wahnsinn wird einmal überstanden sein.

http://www.spiegel.de/wirtschaft/0,1518,326908,00.html

Dabei geht das Drama jetzt erst richtig los. Schon kreisen die Aasgeier. "Kriege deine Millionen von der Vioxx-Klage", ermuntert eine anonyme Website die Abermillionen Vioxx-Patienten. Dem folgt ein Tipp, wie man sich noch nachträglich als "Opfer" qualifizieren könne. Schließlich sei Vioxx zumindest in den USA an einigen Orten bis heute erhältlich: "Wenn Sie jetzt noch Vioxx kaufen, können Sie nicht nur Merck verklagen, sondern auch die Apotheke." Sprich: "Dies ist der einfachste Weg, Millionär zu werden."

[Darkwave]

Dem Kurs konnte das zum Glück nichts anhaben. Diese Aasgeier in den Staaten sind echt schlimm.
Wenn wir heute über 26,50 $ eröffnen, können wir noch Kurse über 28 $ diese Woche sehen. Ein Rebound ist eigentlich längst überfällig, aber noch ist die Stimmung einfach zu negativ.
"Investment-Banker Lawrence kauft zurzeit keine Merck-Aktien mehr, sondern investiert in die Konkurrenz. Die Nachfolge von Merck-CEO Gilmartin wird bereits offen debattiert, der Firma droht außerdem ein Exodus seiner pharmazeutischen Spitzenkräfte. Branchen-Insider berichten, Bewerbungen und Lebensläufe von Merck-Mitarbeitern hätten den Markt "überflutetet"."

[alisa10]

@ darkwave,

Hallo,
wie üblich hört man jetzt wieder alle möglichen ( schlechten )
Nachrichten......
Mal schauen, wann ich reingehe ( dann event.in Kombination mit
Pfizer ( wenn die Celebrex / Bextra Bombe platzt) und Johnsen & Johnsen.
Grüße
Alisa

[Kurswechsel]

Heute kommt`s ganz dick. Schlimmer ist kaum vorstellbar. Nun auch noch strafrechtliche Untersuchungen.

Ich nehme das mal als Anzeichen des nahen Tiefpunktes und lege Merck & Co antizyklisch nach. Das ist etwas gewagt, aber man soll ja beim Donnern des Erschreckens kaufen, und noch hält die Unterstützung.

09.11. / 10:47 US-Behörden durchleuchten Merck wegen Vioxx Netzeitung.de (DE)
09.11. / 10:21 USA nehmen Ermittlungen gegen Merck auf FTD (DE)
09.11. / 09:03 Tuesday Newspaper round-up: Shell, Jarvis, Merck ShareCast (GB)
09.11. / 08:15 Feds` probe of Merck`s Vioxx recall widens - UPDATE 1 Interactive Investor (GB)
09.11. / 07:09 Merck & Co: SEC und Justizministerium ermitteln wegen "Vioxx" vwd (DE)
09.11. / 06:21 SEC und US-Justizministerium untersuchen Vioxx swissinfo (CH)
09.11. / 04:37 Merck faces criminal investigation over Vioxx painkiller The Times (GB)
09.11. / 03:27 Merck Faces Fincl, Credibility Fallout Over Vioxx Suits Morningstar (US)
09.11. / 02:03 Merck Says U.S. Justice Department, SEC Start Probes Over ... Bloomberg (US)
09.11. / 01:33 Merck Says U.S. Opens Criminal Probe of Vioxx, Subpoenas ... Bloomberg (US)
09.11. / 00:50 Merck is target of SEC, Justice probe USA Today (US)
09.11. / 00:39 Merck focus of SEC, DOJ investigations Interactive Investor (GB)
09.11. / 00:15 Merck Named in SEC, DOJ Probes Over Vioxx Yahoo-USA (US)
09.11. / 00:12 Merck Discloses Federal Probes The Street (US)
08.11. / 23:39 Merck: SEC Conducting Informal Probe Of Vioxx Morningstar (US)

[schulzse]

Kann mir einer kurz die Kennzahlen zu Merck nennen ? sprich KGV KUV sowie Gewinn pro Aktie ? Mir ist klar, dass in diesen Zahlen evtl. Schadensersatzansprüche noch nicht berücksichtigt sind......

Sofern die o.g. Nachricht heute nicht gekommen wäre, wäre die Aktie heute gestiegen...daher glaube ich, dass heute der ideale Zeitpunkt zum Einstieg gekommen ist..........

[southboundagain]

MRK: Buchwert um die 8 $

zum Vergleich: Bayer wurde auf die Hälfte des buchwertes gepeitscht.

Fundamentaldaten kann man jetzt vergessen KGV etc.

Jetzt zählt nur noch Charttechnik.

Das Unterstützungsniveau (1991/1996) in diesem Bereich ca.25$ muß halten.

Nächste Unterstützung bei 18$

Viel Glück allen bereits investierten!

[Kurswechsel]

#9, #12, #13,

gute Info, dem stimme ich zu. Derzeit sieht`s nach Boden aus. Das ganze ist ein mutiges, wenn`s klappt einträgliches, aber ziemlich gefährliches Vorgehen. Wenn man den Buchwert mit dem Tief bei Bayer vergleicht, au weia ...

Wie erwähnt, kann man solche Zahlen und Vergleiche in diesem Falle vergessen. Die Börsenstimmung entscheidet.

Viel Erfolg den Mutigen.

[Kurswechsel]

Zunächst die schlechte Nachricht (seit gestern abend /heute früh bekannt): Auch die Börsenaufsicht (SEC) ermittelt nun, wie die Staatsanwaltschaft.

Und die gute: Neue vorläufige Ergebnisse aus der Medikamentenerprobung

http://www.stockhouse.com/news/news.asp?tick=MRK&newsid=2522…

http://news.ft.com/cms/s/a5ff7a18-31d4-11d9-97c0-00000e2511c…

Merck receives DoJ subpoena over Vioxx
By Christopher Bowe in New York
Published: November 8 2004 22:26 | Last updated: November 8 2004 22:26


The crisis at Merck worsened on Monday after the US pharmaceutical company revealed it was under federal criminal investigation related to the marketing of its anti-inflammatory drug Vioxx.

In a quarterly regulatory filing on Monday, the drugmaker said the US Department of Justice issued a subpoena requesting information related to its research and marketing of Vioxx in "a federal healthcare investigation under criminal statutes".

It added that the Securities and Exchange Commission (SEC) had started an "informal inquiry" concerning Vioxx. The company said it was co-operating with the DOJ and the SEC in their investigations.

Criminal and civil regulatory investigations are the latest blow to Merck, following the controversial withdrawal of Vioxx, a medicine used treat arthritis. On September 30, the group pulled the $2.5bn-a-year pain drug off the market after a company study found that it doubled the risk of heart attacks or strokes after 18 months of continuous use.

The move confirmed many critics` concerns that earlier clinical trials as far back as 2000 pointed to a possible heart risk with Vioxx. Last week the Food and Drug Administration was forced to publish a long-awaited study estimating that Vioxx could have caused 27,785 heart attacks or deaths since it was approved in 1999.

Launched in May 1999, Vioxx, a cox-2 inhibitor, was one of the most successful drug launches in history. Merck used heavy consumer advertising to push the drug to blockbuster status. In the meantime, it defended the drug`s safety by saying that one study`s signal of Vioxx-caused heart problems came because the drug with which it was compared, generic naproxen, helped prevent heart attacks.

The investigations could also bring new urgency to the search for a successor for Raymond Gilmartin, Merck`s chief executive who is scheduled to retire at the end of next year.

Merck`s board of directors is using executive search firm Heidrick & Struggles in what it says is a calm, planned succession search. Both external and internal candidates are to be considered by the legendarily conservative company.

One person familiar with the situation expects the search to focus on mainly external candidates.

Vioxx`s withdrawal has also put Merck in the sites of attorneys bringing lawsuits on behalf of allegedly injured patients and shareholders.

As of October 31 2004, the company said in the filing that it was named in approximately 375 lawsuits. Those include about 1,000 plaintiff groups alleging personal injuries resulting from the use of Vioxx

The company has insurance of up to $630m for Vioxx-related lawsuits. It expects trials for Vioxx cases to start next year.

In the meantime, plaintiffs attorneys are on Tuesday meeting in Pasadena, California to discuss Vioxx case strategy.

Some have estimated Merck`s liability could reach $10bn, while others see that as much too high.

Merck`s share price has plunged 41 per cent since the recall, closing at $26.57 in New York trading on Monday.

The group also said it was the subject of an informal inquiry by the Securities and Exchange Commission.

In a regulatory filing on Monday, it said it was facing 375 Vioxx lawsuits, and that it was co-operating with the Justice department and SEC probes.


http://www.stockhouse.com/news/news.asp?tick=MRK&newsid=2522…

Merck & Co., Inc. Quick Quote:
MRK 26.07 (-0.50)

Merck/Schering-Plough Pharmaceuticals Announces New Clinical Trial for VYTORIN -ezetimibe/simvastatin-
11/9/04


Large Trial to Evaluate VYTORIN(TM) in Reducing Major Cardiovascular
Events Through Intensive Lowering of LDL Cholesterol in Patients with
Acute Coronary Syndromes

WHITEHOUSE STATION & KENILWORTH, N.J., Nov 9, 2004 (BUSINESS WIRE) --

Merck/Schering-Plough Pharmaceuticals today announced a large scal

e clinical outcomes trial that will be conducted for VYTORIN(TM) (ezetimibe/simvastatin). The trial known as IMPROVE IT (Improved Reduction of Outcomes: VYTORIN Efficacy International Trial) will evaluate the risk reduction provided by VYTORIN 10/40 mg as compared to Zocor (simvastatin) 40 mg in reducing death and major coronary events in approximately 10,000 patients with acute coronary syndromes (ACS). In clinical trials, VYTORIN has been shown to provide superior LDL cholesterol lowering as compared to Lipitor or Zocor. The intent of the study is to determine whether VYTORIN provides incremental reductions in cardiovascular events in these patients as compared to simvastatin. The primary endpoint of the trial is the composite of death, myocardial infarction (MI), rehospitalization for ACS or revascularization (occurring 30 days or more after the initial event).

"The purpose of IMPROVE IT is to evaluate the potential incremental impact of VYTORIN versus simvastatin alone in reducing mortality and morbidity in high risk patients with ACS by dramatically lowering LDL cholesterol through dual inhibition," said Eugene Braunwald, M.D., F.A.C.C., Distinguished Hersey Professor of Medicine, Harvard Medical School, chairman TIMI Study Group, Brigham and Women`s Hospital.

Study Design

IMPROVE IT is a multi-center, randomized, double-blind active comparator study that will enroll approximately 10,000 patients with ACS, including unstable angina (UA), non-ST-segment elevation acute myocardial infarction (NSTEMI) and ST-segment elevation acute myocardial infarction (STEMI). Patients will be randomized to either VYTORIN 10/40 mg or simvastatin 40 mg per day. Patients will be followed for over two years.

"There is growing clinical evidence that intensive lipid lowering provides additional benefits to high-risk patients. IMPROVE IT will potentially provide further clinical evidence on how best to manage high-risk patients with ACS. It will also further characterize the clinical profile of VYTORIN beyond its already demonstrated significant efficacy in LDL cholesterol reduction," said Robert M. Califf, M.D., F.A.C.C., professor of medicine, director, Duke Clinical Research Institute, Duke University Medical Center.

About Acute Coronary Syndromes

ACS includes unstable angina (UA), non ST-elevation myocardial infarction (NSTEMI) and ST-elevation myocardial infarction (STEMI) patients. ACS is usually caused by the buildup of plaque (deposits of fat-like substances) in the coronary arteries of the heart. These plaques may tear or rupture, leading to the formation of a blood clot which may partly or completely block the blood flow in a coronary artery, abruptly limiting the supply of oxygenated blood to a portion of heart muscle. Patients with UA often experience severe constricting pain in the chest occurring at rest, but testing does not show evidence of heart muscle damage. However, the development of UA is a warning sign that a heart attack may soon occur. NSTEMI, the most common form of heart attack, presents similarly to UA but is accompanied by evidence of heart muscle damage. In STEMI, an abrupt complete blockage of the coronary artery causes more extensive damage to the heart muscle. The treatment of ACS includes improving blood supply to the heart muscle, preventing further clot formation, and, ultimately, preventing further progression of coronary atherosclerosis. According to the American Heart Association, it is estimated that approximately 1.5 million patients are annually admitted for symptoms of ACS in the United States alone.

Full indications and contraindication for VYTORIN

VYTORIN is indicated as adjunctive therapy to diet for the reduction of elevated total cholesterol, LDL cholesterol, Apo B(1), triglycerides and non-HDL cholesterol and to increase HDL cholesterol in patients with primary (heterozygous familial and non-familial) hypercholesterolemia or mixed hyperlipidemia. VYTORIN also is indicated for the reduction of elevated total cholesterol and LDL cholesterol in patients with homozygous familial hypercholesterolemia, as an adjunct to other lipid-lowering treatments (e.g. LDL apheresis) or if such treatments are unavailable.

VYTORIN is a prescription medicine and should not be taken by people who are hypersensitive to any of its components. VYTORIN should not be taken by anyone with active liver disease or unexplained persistent elevations of serum transaminases. Women who are of childbearing age (unless highly unlikely to conceive), are nursing or who are pregnant should not take VYTORIN.

Selected cautionary information for VYTORIN

Muscle pain, tenderness or weakness in people taking VYTORIN should be reported to a doctor promptly because these could be signs of a serious side effect. VYTORIN should be discontinued if myopathy is diagnosed or suspected. To help avoid serious side effects, patients should talk to their doctor about medicine or food they should avoid while taking VYTORIN. In three placebo-controlled, 12-week trials, the incidence of consecutive elevations (Greater than 3 X ULN) in serum transaminases were 1.7 percent overall for patients treated with VYTORIN and 2.6 percent for patients treated with VYTORIN 10/80 mg. In controlled long-term (48 week) extensions, which included both newly-treated and previously-treated patients, the incidence of consecutive elevations (Greater than 3 X ULN) in serum transaminases was 1.8 percent overall and 3.6 percent for patients treated with VYTORIN 10/80 mg. These elevations in transaminases were generally asymptomatic, not associated with cholestasis and returned to baseline after discontinuation of therapy or with continued treatment. Doctors should perform blood tests before, and periodically during treatment with VYTORIN when clinically indicated to check for liver problems. People taking VYTORIN 10/80 mg should receive an additional liver function test prior to and three months after titration and periodically during the first year.

Due to the unknown effects of increased exposure to ezetimibe (an ingredient in VYTORIN) in patients with moderate or severe hepatic insufficiency, VYTORIN is not recommended in these patients. The safety and effectiveness of VYTORIN with fibrates have not been established; therefore, co-administration with fibrates is not recommended. Caution should be exercised when initiating VYTORIN in patients treated with cyclosporine and in patients with severe renal insufficiency.

In clinical studies VYTORIN was well tolerated with a low incidence of adverse events

VYTORIN has been evaluated for safety in more than 3,800 patients in clinical trials and was generally well tolerated at all doses (10/10 mg, 10/20 mg, 10/40 mg, 10/80 mg). In clinical trials, the most commonly reported side effects, regardless of cause, included headache (6.8 percent), upper respiratory tract infection (3.9 percent), myalgia (3.5 percent), influenza (2.6 percent) and extremity pain (2.3 percent).

Additional Outcomes Trials for VYTORIN

In addition to the IMPROVE-IT trial, Merck/Schering-Plough Pharmaceuticals is conducting three other large-scale clinical outcomes trials. They are:

The trial known as SHARP (Study of Heart And Renal Protection) will evaluate the effects of lowering LDL-C with ZETIA 10 mg and simvastatin 20 mg daily versus placebo in 9,000 patients with chronic kidney disease. The study will assess the effect of this combination therapy on the time to the first major vascular event (i.e., heart attack, stroke, or revascularization) and on progression to end-stage renal disease among pre-dialysis patients, as well as assessing safety and tolerability in the different treatment arms.

The trial known as SEAS (Simvastatin and Ezetimibe in Aortic Stenosis) is a placebo controlled study that will examine the reduction in mortality and morbidity of patients with aortic stenosis with the co-administration of ZETIA and simvastatin 40 mg.

The trial known as ENHANCE (Ezetimibe and Simvastatin in Hypercholesterolemia Enhances Atherosclerosis Regression) will evaluate ZETIA 10 mg and simvastatin 80 mg versus simvastatin 80 mg alone in reversing the atherosclerotic thickening of the carotid artery in patients with high cholesterol.

About Merck/Schering-Plough Pharmaceuticals

Merck/Schering-Plough Pharmaceuticals is a joint venture between Merck & Co., Inc. and Schering-Plough Corporation formed to develop and market in the United States new prescription medicines in cholesterol management. The collaboration was expanded to include worldwide markets (excluding Japan).

Merck Forward-Looking Statement: This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, product potential or financial performance. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Merck undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect Merck`s business, particularly those mentioned in the cautionary statements in Item 1 of our Form 10-K for the year ended Dec. 31, 2003, and in our periodic reports on Form 10-Q and Form 8-K, which the company incorporates by reference.

Schering-Plough Disclosure Notice: This press release contains "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995, including about VYTORIN and the IMPROVE IT clinical outcomes trial. Forward-looking statements relate to expectations or forecasts of future events and not to historical information. Schering-Plough does not assume the obligation to update any forward-looking statement. There are no guarantees about the market performance of VYTORIN, the results of the IMPROVE IT clinical outcomes trial, Schering-Plough stock or Schering-Plough`s business. Actual results may vary materially from forward-looking statements made here or in other Schering-Plough written or spoken communications due to many factors and uncertainties, which include the items discussed in Schering-Plough`s Securities and Exchange Commission filings, including the 10-Q filed October 28, 2004.

VYTORIN is a trademark of MSP Singapore Company, LLC. All other brands

are trademarks of their respective owners and are not trademarks of

MSP Singapore Company, LLC.


(1) Apo B is the protein compound of lipoproteins, LDL and v-LDL,

which carry cholesterol in the blood.


Full prescribing information and patient product information for

VYTORIN(TM) is attached.



VYTORIN(TM) (ezetimibe/simvastatin) 9619601



DESCRIPTION


VYTORIN contains ezetimibe, a selective inhibitor of intestinal

cholesterol and related phytosterol absorption, and simvastatin, a

3-hydroxy-3-methylglutaryl-coenzyme A (HMG-CoA) reductase inhibitor.

The chemical name of ezetimibe is

1-(4-fluorophenyl)-3(R)-(3-(4-fluorophenyl)-3(S)-hydroxypropyl)-4(S)-(

4-hydroxyphenyl)-2-azetidinone. The empirical formula is C24H21F2NO3

and its molecular weight is 409.4.

Ezetimibe is a white, crystalline powder that is freely to very

soluble in ethanol, methanol, and acetone and practically insoluble in

water. Its structural formula is:


(OBJECT OMITTED)


Simvastatin, an inactive lactone, is hydrolyzed to the

corresponding (beta)-hydroxyacid form, which is an inhibitor of

HMG-CoA reductase. Simvastatin is butanoic acid,

2,2-dimethyl-,1,2,3,7,8,8a-hexahydro-3,7-dimethyl-8-(2-(tetrahydro-4-

hydroxy-6-oxo-2H-pyran-2-yl)-ethyl)-1-naphthalenyl ester,

(1S-(1(alpha),3(alpha),7(beta),8(beta)(2S*,4S*),-8a(beta))). The

empirical formula of simvastatin is C25H38O5 and its molecular weight

is 418.57.

Simvastatin is a white to off-white, nonhygroscopic, crystalline

powder that is practically insoluble in water, and freely soluble in

chloroform, methanol and ethanol. Its structural formula is:


(OBJECT OMITTED)


VYTORIN is available for oral use as tablets containing 10 mg of

ezetimibe, and 10 mg of simvastatin (VYTORIN 10/10), 20 mg of

simvastatin (VYTORIN 10/20), 40 mg of simvastatin (VYTORIN 10/40), or

80 mg of simvastatin (VYTORIN 10/80). Each tablet contains the

following inactive ingredients: butylated hydroxyanisole NF, citric

acid monohydrate USP, croscarmellose sodium NF, hydroxypropyl

methylcellulose USP, lactose monohydrate NF, magnesium stearate NF,

microcrystalline cellulose NF, and propyl gallate NF.


CLINICAL PHARMACOLOGY


Background


Clinical studies have demonstrated that elevated levels of total

cholesterol (total-C), low-density lipoprotein cholesterol (LDL-C) and

apolipoprotein B (Apo B), the major protein constituent of LDL,

promote human atherosclerosis. In addition, decreased levels of

high-density lipoprotein cholesterol (HDL-C) are associated with the

development of atherosclerosis. Epidemiologic studies have established

that cardiovascular morbidity and mortality vary directly with the

level of total-C and LDL-C and inversely with the level of HDL-C. Like

LDL, cholesterol-enriched triglyceride-rich lipoproteins, including

very-low-density lipoproteins (VLDL), intermediate-density

lipoproteins (IDL), and remnants, can also promote atherosclerosis.

The independent effect of raising HDL-C or lowering triglycerides (TG)

on the risk of coronary and cardiovascular morbidity and mortality has

not been determined.


Mode of Action


VYTORIN


Plasma cholesterol is derived from intestinal absorption and

endogenous synthesis. VYTORIN contains ezetimibe and simvastatin, two

lipid-lowering compounds with complementary mechanisms of action.

VYTORIN reduces elevated total-C, LDL-C, Apo B, TG, and non-HDL-C, and

increases HDL-C through dual inhibition of cholesterol absorption and

synthesis.


Ezetimibe


Ezetimibe reduces blood cholesterol by inhibiting the absorption

of cholesterol by the small intestine. In a 2-week clinical study in

18 hypercholesterolemic patients, ezetimibe inhibited intestinal

cholesterol absorption by 54%, compared with placebo. Ezetimibe had no

clinically meaningful effect on the plasma concentrations of the

fat-soluble vitamins A, D, and E and did not impair adrenocortical

steroid hormone production.

Ezetimibe localizes and appears to act at the brush border of the

small intestine and inhibits the absorption of cholesterol, leading to

a decrease in the delivery of intestinal cholesterol to the liver.

This causes a reduction of hepatic cholesterol stores and an increase

in clearance of cholesterol from the blood; this distinct mechanism is

complementary to that of HMG-CoA reductase inhibitors (see CLINICAL

STUDIES).


Simvastatin


Simvastatin reduces cholesterol by inhibiting the conversion of

HMG-CoA to mevalonate, an early step in the biosynthetic pathway for

cholesterol. In addition, simvastatin reduces VLDL and TG and

increases HDL-C.


Pharmacokinetics


Absorption


VYTORIN


VYTORIN is bioequivalent to coadministered ezetimibe and

simvastatin.


Ezetimibe


After oral administration, ezetimibe is absorbed and extensively

conjugated to a pharmacologically active phenolic glucuronide

(ezetimibe-glucuronide).


Effect of Food on Oral Absorption


Ezetimibe


Concomitant food administration (high-fat or non-fat meals) had no

effect on the extent of absorption of ezetimibe when administered as

10-mg tablets. The Cmax value of ezetimibe was increased by 38% with

consumption of high-fat meals.


Simvastatin


Relative to the fasting state, the plasma profiles of both active

and total inhibitors of HMG-CoA reductase were not affected when

simvastatin was administered immediately before an American Heart

Association recommended low-fat meal.


Distribution


Ezetimibe


Ezetimibe and ezetimibe-glucuronide are highly bound (greater than

90%) to human plasma proteins.


Simvastatin


Both simvastatin and its (beta)-hydroxyacid metabolite are highly

bound (approximately 95%) to human plasma proteins. When radiolabeled

simvastatin was administered to rats, simvastatin-derived

radioactivity crossed the blood-brain barrier.


Metabolism and Excretion


Ezetimibe


Ezetimibe is primarily metabolized in the small intestine and

liver via glucuronide conjugation with subsequent biliary and renal

excretion. Minimal oxidative metabolism has been observed in all

species evaluated.

In humans, ezetimibe is rapidly metabolized to

ezetimibe-glucuronide. Ezetimibe and ezetimibe-glucuronide are the

major drug-derived compounds detected in plasma, constituting

approximately 10 to 20% and 80 to 90% of the total drug in plasma,

respectively. Both ezetimibe and ezetimibe-glucuronide are slowly

eliminated from plasma with a half-life of approximately 22 hours for

both ezetimibe and ezetimibe-glucuronide. Plasma concentration-time

profiles exhibit multiple peaks, suggesting enterohepatic recycling.

Following oral administration of 14C-ezetimibe (20 mg) to human

subjects, total ezetimibe (ezetimibe + ezetimibe-glucuronide)

accounted for approximately 93% of the total radioactivity in plasma.

After 48 hours, there were no detectable levels of radioactivity in

the plasma.

Approximately 78% and 11% of the administered radioactivity were

recovered in the feces and urine, respectively, over a 10-day

collection period. Ezetimibe was the major component in feces and

accounted for 69% of the administered dose, while

ezetimibe-glucuronide was the major component in urine and accounted

for 9% of the administered dose.


Simvastatin


Simvastatin is a lactone that is readily hydrolyzed in vivo to the

corresponding (beta)-hydroxyacid, a potent inhibitor of HMG-CoA

reductase. Inhibition of HMG-CoA reductase is a basis for an assay in

pharmacokinetic studies of the (beta)-hydroxyacid metabolites (active

inhibitors) and, following base hydrolysis, active plus latent

inhibitors (total inhibitors) in plasma following administration of

simvastatin. The major active metabolites of simvastatin present in

human plasma are the (beta)-hydroxyacid of simvastatin and its

6`-hydroxy, 6`-hydroxymethyl, and 6`-exomethylene derivatives.

Plasma concentrations of total radioactivity (simvastatin plus

14C-metabolites) peaked at 4 hours and declined rapidly to about 10%

of peak by 12 hours postdose. Simvastatin undergoes extensive

first-pass extraction in the liver, its primary site of action, with

subsequent excretion of drug equivalents in the bile. As a consequence

of extensive hepatic extraction of simvastatin (estimated to be

greater than 60% in man), the availability of drug to the general

circulation is low.

Following an oral dose of 14C-labeled simvastatin in man, 13% of

the dose was excreted in urine and 60% in feces. The latter represents

absorbed drug equivalents excreted in bile, as well as any unabsorbed

drug.

In a single-dose study in nine healthy subjects, it was estimated

that less than 5% of an oral dose of simvastatin reaches the general

circulation as active inhibitors.


Special Populations


Geriatric Patients


Ezetimibe


In a multiple-dose study with ezetimibe given 10 mg once daily for

10 days, plasma concentrations for total ezetimibe were about 2-fold

higher in older ((greater than or equal to )65 years) healthy subjects

compared to younger subjects.


Simvastatin


In a study including 16 elderly patients between 70 and 78 years

of age who received simvastatin 40 mg/day, the mean plasma level of

HMG-CoA reductase inhibitory activity was increased approximately 45%

compared with 18 patients between 18-30 years of age.


Pediatric Patients


Ezetimibe


In a multiple-dose study with ezetimibe given 10 mg once daily for

7 days, the absorption and metabolism of ezetimibe were similar in

adolescents (10 to 18 years) and adults. Based on total ezetimibe,

there are no pharmacokinetic differences between adolescents and

adults. Pharmacokinetic data in the pediatric population less than 10

years of age are not available.


Gender


Ezetimibe


In a multiple-dose study with ezetimibe given 10 mg once daily for

10 days, plasma concentrations for total ezetimibe were slightly

higher (less than 20%) in women than in men.


Race


Ezetimibe


Based on a meta-analysis of multiple-dose pharmacokinetic studies,

there were no pharmacokinetic differences between Blacks and

Caucasians. There were too few patients in other racial or ethnic

groups to permit further pharmacokinetic comparisons.


Hepatic Insufficiency


Ezetimibe


After a single 10-mg dose of ezetimibe, the mean exposure (based

on area under the curve (AUC)) to total ezetimibe was increased

approximately 1.7-fold in patients with mild hepatic insufficiency

(Child-Pugh score 5 to 6), compared to healthy subjects. The mean AUC

values for total ezetimibe and ezetimibe increased approximately 3- to

4-fold and 5- to 6-fold, respectively, in patients with moderate

(Child-Pugh score 7 to 9) or severe hepatic impairment (Child-Pugh

score 10 to 15). In a 14-day, multiple-dose study (10 mg daily) in

patients with moderate hepatic insufficiency, the mean AUC for total

ezetimibe and ezetimibe increased approximately 4-fold compared to

healthy subjects.


Renal Insufficiency


Ezetimibe


After a single 10-mg dose of ezetimibe in patients with severe

renal disease (n=8; mean CrCl (less than or equal to )30 mL/min/1.73

m2), the mean AUC for total ezetimibe and ezetimibe increased

approximately 1.5-fold, compared to healthy subjects (n=9).


Simvastatin


Pharmacokinetic studies with another statin having a similar

principal route of elimination to that of simvastatin have suggested

that for a given dose level higher systemic exposure may be achieved

in patients with severe renal insufficiency (as measured by creatinine

clearance).


Drug Interactions (See also PRECAUTIONS, Drug Interactions)


No clinically significant pharmacokinetic interaction was seen

when ezetimibe was coadministered with simvastatin. Specific

pharmacokinetic drug interaction studies with VYTORIN have not been

performed.

Cytochrome P450: Ezetimibe had no significant effect on a series

of probe drugs (caffeine, dextromethorphan, tolbutamide, and IV

midazolam) known to be metabolized by cytochrome P450 (1A2, 2D6, 2C8/9

and 3A4) in a "cocktail" study of twelve healthy adult males. This

indicates that ezetimibe is neither an inhibitor nor an inducer of

these cytochrome P450 isozymes, and it is unlikely that ezetimibe will

affect the metabolism of drugs that are metabolized by these enzymes.

In a study of 12 healthy volunteers, simvastatin at the 80-mg dose

had no effect on the metabolism of the probe cytochrome P450 isoform

3A4 (CYP3A4) substrates midazolam and erythromycin. This indicates

that simvastatin is not an inhibitor of CYP3A4, and, therefore, is not

expected to affect the plasma levels of other drugs metabolized by

CYP3A4.

Simvastatin is a substrate for CYP3A4. Potent inhibitors of CYP3A4

can raise the plasma levels of HMG-CoA reductase inhibitory activity

and increase the risk of myopathy. (See WARNINGS,

Myopathy/Rhabdomyolysis and PRECAUTIONS, Drug Interactions.)

Antacids: In a study of twelve healthy adults, a single dose of

antacid (Supralox(TM) 20 mL) administration had no significant effect

on the oral bioavailability of total ezetimibe, ezetimibe-glucuronide,

or ezetimibe based on AUC values. The Cmax value of total ezetimibe

was decreased by 30%.

Cholestyramine: In a study of forty healthy hypercholesterolemic

(LDL-C (greater than or equal to)130 mg/dL) adult subjects,

concomitant cholestyramine (4 g twice daily) administration decreased

the mean AUC of total ezetimibe and ezetimibe approximately 55% and

80%, respectively.

Cyclosporine: In a study of eight post-renal transplant patients

with mildly impaired or normal renal function (creatinine clearance of

greater than 50 mL/min), stable doses of cyclosporine (75 to 150 mg

twice daily) increased the mean AUC and Cmax values of total ezetimibe

3.4-fold (range 2.3- to 7.9-fold) and 3.9-fold (range 3.0- to

4.4-fold), respectively, compared to a historical healthy control

population (n=17). In a different study, a renal transplant patient

with severe renal insufficiency (creatinine clearance of 13.2

mL/min/1.73 m2) who was receiving multiple medications, including

cyclosporine, demonstrated a 12-fold greater exposure to total

ezetimibe compared to healthy subjects.

Fenofibrate: In a study of thirty-two healthy hypercholesterolemic

(LDL-C (greater than or equal to)130 mg/dL) adult subjects,

concomitant fenofibrate (200 mg once daily) administration increased

the mean Cmax and AUC values of total ezetimibe approximately 64% and

48%, respectively. Pharmacokinetics of fenofibrate were not

significantly affected by ezetimibe (10 mg once daily).

Gemfibrozil: In a study of twelve healthy adult males, concomitant

administration of gemfibrozil (600 mg twice daily) significantly

increased the oral bioavailability of total ezetimibe by a factor of

1.7. Ezetimibe (10 mg once daily) did not significantly affect the

bioavailability of gemfibrozil.

Grapefruit Juice: Grapefruit juice contains one or more components

that inhibit CYP3A4 and can increase the plasma concentrations of

drugs metabolized by CYP3A4. In one study(1)

, 10 subjects consumed 200 mL of double-strength grapefruit juice

(one can of frozen concentrate diluted with one rather than 3 cans of

water) three times daily for 2 days and an additional 200 mL

double-strength grapefruit juice together with, and 30 and 90 minutes

following, a single dose of 60 mg simvastatin on the third day. This

regimen of grapefruit juice resulted in mean increases in the

concentration (as measured by the area under the concentration-time

curve) of active and total HMG-CoA reductase inhibitory activity

(measured using a radioenzyme inhibition assay both before (for active

inhibitors) and after (for total inhibitors) base hydrolysis) of

2.4-fold and 3.6-fold, respectively, and of simvastatin and its

(beta)-hydroxyacid metabolite (measured using a chemical assay --

liquid chromatography/tandem mass spectrometry) of 16-fold and 7-fold,

respectively. In a second study, 16 subjects consumed one 8 oz glass

of single-strength grapefruit juice (one can of frozen concentrate

diluted with 3 cans of water) with breakfast for 3 consecutive days

and a single dose of 20 mg simvastatin in the evening of the third

day. This regimen of grapefruit juice resulted in a mean increase in

the plasma concentration (as measured by the area under the

concentration-time curve) of active and total HMG-CoA reductase

inhibitory activity (using a validated enzyme inhibition assay

different from that used in the first(1) study, both before (for

active inhibitors) and after (for total inhibitors) base hydrolysis)

of 1.13-fold and 1.18-fold, respectively, and of simvastatin and its

(beta)-hydroxyacid metabolite (measured using a chemical assay --

liquid chromatography/tandem mass spectrometry) of 1.88-fold and

1.31-fold, respectively. The effect of amounts of grapefruit juice

between those used in these two studies on simvastatin

pharmacokinetics has not been studied.


ANIMAL PHARMACOLOGY


Ezetimibe


The hypocholesterolemic effect of ezetimibe was evaluated in

cholesterol-fed Rhesus monkeys, dogs, rats, and mouse models of human

cholesterol metabolism. Ezetimibe was found to have an ED50 value of

0.5 (mu)g/kg/day for inhibiting the rise in plasma cholesterol levels

in monkeys. The ED50 values in dogs, rats, and mice were 7, 30, and

700 (mu)g/kg/day, respectively. These results are consistent with

ezetimibe being a potent cholesterol absorption inhibitor. In a rat

model, where the glucuronide metabolite of ezetimibe

(ezetimibe-glucuronide) was administered intraduodenally, the

metabolite was as potent as ezetimibe in inhibiting the absorption of

cholesterol, suggesting that the glucuronide metabolite had activity

similar to the parent drug. In 1-month studies in dogs given ezetimibe

(0.03-300 mg/kg/day), the concentration of cholesterol in gallbladder

bile increased approximately 2- to 4-fold. However, a dose of 300

mg/kg/day administered to dogs for one year did not result in

gallstone formation or any other adverse hepatobiliary effects. In a

14-day study in mice given ezetimibe (0.3-5 mg/kg/day) and fed a

low-fat or cholesterol-rich diet, the concentration of cholesterol in

gallbladder bile was either unaffected or reduced to normal levels,

respectively. A series of acute preclinical studies was performed to

determine the selectivity of ezetimibe for inhibiting cholesterol

absorption. Ezetimibe inhibited the absorption of 14C-cholesterol with

no effect on the absorption of triglycerides, fatty acids, bile acids,

progesterone, ethyl estradiol, or the fat-soluble vitamins A and D. In

4- to 12-week toxicity studies in mice, ezetimibe did not induce

cytochrome P450 drug metabolizing enzymes. In toxicity studies, a

pharmacokinetic interaction of ezetimibe with HMG-CoA reductase

inhibitors (parents or their active hydroxy acid metabolites) was seen

in rats, dogs, and rabbits.


CLINICAL STUDIES


Primary Hypercholesterolemia


VYTORIN


VYTORIN reduces total-C, LDL-C, Apo B, TG, and non-HDL-C, and

increases HDL-C in patients with hypercholesterolemia. Maximal to near

maximal response is generally achieved within 2 weeks and maintained

during chronic therapy.

VYTORIN is effective in men and women with hypercholesterolemia.

Experience in non-Caucasians is limited and does not permit a precise

estimate of the magnitude of the effects of VYTORIN.

In a multicenter, double-blind, placebo-controlled, 12-week trial,

1528 hypercholesterolemic patients were randomized to one of ten

treatment groups: placebo, ezetimibe (10 mg), simvastatin (10 mg, 20

mg, 40 mg, or 80 mg), or VYTORIN (10/10, 10/20, 10/40, or 10/80).

When patients receiving VYTORIN were compared to those receiving

all doses of simvastatin, VYTORIN significantly lowered total-C,

LDL-C, Apo B, TG, and non-HDL-C. The effects of VYTORIN on HDL-C were

similar to the effects seen with simvastatin. Further analysis showed

VYTORIN significantly increased HDL-C compared with placebo. (See

Table 1.) The lipid response to VYTORIN was similar in patients with

TG levels greater than or less than 200 mg/dL.


Table 1


Response to VYTORIN in Patients with Primary Hypercholesterolemia


(Mean(a) % Change from Untreated Baseline(b))


Treatment

Non-

Total-LDL-Apo HDL- HDL-

(Daily Dose) N C C B C TG(a) C

----------------------------------------------------------------------

Pooled data (All VYTORIN doses)(c) 609 -38 -53 -42 +7 -24 -49

----------------------------------------------------------------------

Pooled data (All simvastatin doses)(c)622 -28 -39 -32 +7 -21 -36

----------------------------------------------------------------------

Ezetimibe 10 mg 149 -13 -19 -15 +5 -11 -18

----------------------------------------------------------------------

Placebo 148 -1 -2 0 0 -2 -2

----------------------------------------------------------------------

VYTORIN by dose

10/10 152 -31 -45 -35 +8 -23 -41

----------------------------------------------------------------------

10/20 156 -36 -52 -41 +10 -24 -47

----------------------------------------------------------------------

10/40 147 -39 -55 -44 +6 -23 -51

----------------------------------------------------------------------

10/80 154 -43 -60 -49 +6 -31 -56

----------------------------------------------------------------------

Simvastatin by dose

10 mg 158 -23 -33 -26 +5 -17 -30

----------------------------------------------------------------------

20 mg 150 -24 -34 -28 +7 -18 -32

----------------------------------------------------------------------

40 mg 156 -29 -41 -33 +8 -21 -38

----------------------------------------------------------------------

80 mg 158 -35 -49 -39 +7 -27 -45

----------------------------------------------------------------------


(a) For triglycerides, median % change from baseline


(b) Baseline - on no lipid-lowering drug


(c )VYTORIN doses pooled (10/10-10/80) significantly reduced

total-C, LDL-C, Apo B, TG, and non-HDL-C compared to simvastatin, and

significantly increased HDL-C compared to placebo.

In a multicenter, double-blind, controlled, 23-week study, 710

patients with known CHD or CHD risk equivalents, as defined by the

NCEP ATP III guidelines, and an LDL-C (greater than or equal to )130

mg/dL were randomized to one of four treatment groups: coadministered

ezetimibe and simvastatin equivalent to VYTORIN (10/10, 10/20, and

10/40), or simvastatin 20 mg. Patients not reaching an LDL-C less than

100 mg/dL had their simvastatin dose titrated at 6-week intervals to a

maximal dose of 80 mg.

At Week 5, the LDL-C reductions with VYTORIN 10/10, 10/20, or

10/40 were significantly larger than with simvastatin 20 mg (see Table

2).


Table 2


Response to VYTORIN after 5 Weeks in Patients with CHD or CHD Risk

Equivalents


and an LDL-C (greater than or equal to )130 mg/dL



SimvastatinVYTORINVYTORINVYTORIN

20 mg 10/10 10/20 10/40

----------------------------------------------------------------------

N 253 251 109 97

----------------------------------------------------------------------

Mean baseline LDL-C 174 165 167 171

----------------------------------------------------------------------

Percent change LDL-C -38 -47 -53 -59

----------------------------------------------------------------------


In a multicenter, double-blind, 24-week, forced titration study,

788 patients with primary hypercholesterolemia, who had not met their

NCEP ATP III target LDL-C goal, were randomized to receive

coadministered ezetimibe and simvastatin equivalent to VYTORIN (10/10

and 10/20) or atorvastatin 10 mg. For all three treatment groups, the

dose of the statin was titrated at 6-week intervals to 80 mg. At each

pre-specified dose comparison, VYTORIN lowered LDL-C to a greater

degree than atorvastatin (see Table 3).


Table 3


Response to VYTORIN and Atorvastatin in Patients with Primary

Hypercholesterolemia


(Meana % Change from Untreated Baselineb)


Total- Non-

Treatment N C LDL-C Apo B HDL-C TG(a) HDL-C

----------------------------------------------------------------------

Week 6

----------------------------------------------------------------------

Atorvastatin 10 mg(c) 262 -28 -37 -32 +5 -23 -35

----------------------------------------------------------------------

VYTORIN 10/10(d) 263 -34(f)-46(f)-38(f) +8(f) -26 -43(f)

----------------------------------------------------------------------

VYTORIN 10/20(e) 263 -36(f)-50(f)-41(f)+10(f) -25 -46(f)

----------------------------------------------------------------------

Week 12

----------------------------------------------------------------------

Atorvastatin 20 mg 246 -33 -44 -38 +7 -28 -42

----------------------------------------------------------------------

VYTORIN 10/20 250 -37(f)-50(f)-41(f) +9 -28 -46(f)

----------------------------------------------------------------------

VYTORIN 10/40 252 -39(f) -54f -45f +12(f) -31 -50(f)

----------------------------------------------------------------------

Week 18

----------------------------------------------------------------------

Atorvastatin 40 mg 237 -37 -49 -42 +8 -31 -47

----------------------------------------------------------------------

VYTORIN 10/40(g) 482 -40(f)-56(f)-45(f)+11(f) -32 -52(f)

----------------------------------------------------------------------

Week 24

----------------------------------------------------------------------

Atorvastatin 80 mg 228 -40 -53 -45 +6 -35 -50

----------------------------------------------------------------------

VYTORIN 10/80(g) 459 -43(f)-59(f)-49(f)+12(f) -35 -55(f)

----------------------------------------------------------------------


(a) For triglycerides, median % change from baseline


(b) Baseline - on no lipid-lowering drug


(c) Atorvastatin: 10 mg start dose titrated to 20 mg, 40 mg, and

80 mg through Weeks 6, 12, 18, and 24

(d) VYTORIN: 10/10 start dose titrated to 10/20, 10/40, and 10/80

through Weeks 6, 12, 18, and 24

(e) VYTORIN: 10/20 start dose titrated to 10/40, 10/40, and 10/80

through Weeks 6, 12, 18, and 24

(f) p( less than or equal to )0.05 for difference with

atorvastatin in the specified week


(g )Data pooled for common doses of VYTORIN at Weeks 18 and 24.


In a multicenter, double-blind, 24-week trial, 214 patients with

type 2 diabetes mellitus treated with thiazolidinediones

(rosiglitazone or pioglitazone) for a minimum of 3 months and

simvastatin 20 mg for a minimum of 6 weeks, were randomized to receive

either simvastatin 40 mg or the coadministered active ingredients

equivalent to VYTORIN 10/20. The median LDL-C and HbA1c levels at

baseline were 89 mg/dL and 7.1%, respectively.

VYTORIN 10/20 was significantly more effective than doubling the

dose of simvastatin to 40 mg. The median percent changes from baseline

for VYTORIN vs simvastatin were: LDL-C -25% and -5%; total-C -16% and

-5%; Apo B -19% and -5%; and non-HDL-C -23% and -5%. Results for HDL-C

and TG between the two treatment groups were not significantly

different.


Ezetimibe


In two multicenter, double-blind, placebo-controlled, 12-week

studies in 1719 patients with primary hypercholesterolemia, ezetimibe

significantly lowered total-C (-13%), LDL-C (-19%), Apo B (-14%), and

TG (-8%), and increased HDL-C (+3%) compared to placebo. Reduction in

LDL-C was consistent across age, sex, and baseline LDL-C.


Simvastatin


In two large, placebo-controlled clinical trials, the Scandinavian

Simvastatin Survival Study (N=4,444 patients) and the Heart Protection

Study (N=20,536 patients), the effects of treatment with simvastatin

were assessed in patients at high risk of coronary events because of

existing coronary heart disease, diabetes, peripheral vessel disease,

history of stroke or other cerebrovascular disease. Simvastatin was

proven to reduce: the risk of total mortality by reducing CHD deaths;

the risk of non-fatal myocardial infarction and stroke; and the need

for coronary and non-coronary revascularization procedures.

No incremental benefit of VYTORIN on cardiovascular morbidity and

mortality over and above that demonstrated for simvastatin has been

established.


Homozygous Familial Hypercholesterolemia (HoFH)


A double-blind, randomized, 12-week study was performed in

patients with a clinical and/or genotypic diagnosis of HoFH. Data were

analyzed from a subgroup of patients (n=14) receiving simvastatin 40

mg at baseline. Increasing the dose of simvastatin from 40 to 80 mg

(n=5) produced a reduction of LDL-C of 13% from baseline on

simvastatin 40 mg. Coadministered ezetimibe and simvastatin equivalent

to VYTORIN (10/40 and 10/80 pooled, n=9), produced a reduction of

LDL-C of 23% from baseline on simvastatin 40 mg. In those patients

coadministered ezetimibe and simvastatin equivalent to VYTORIN (10/80,

n=5), a reduction of LDL-C of 29% from baseline on simvastatin 40 mg

was produced.


INDICATIONS AND USAGE


Primary Hypercholesterolemia


VYTORIN is indicated as adjunctive therapy to diet for the

reduction of elevated total-C, LDL-C, Apo B, TG, and non-HDL-C, and to

increase HDL-C in patients with primary (heterozygous familial and

non-familial) hypercholesterolemia or mixed hyperlipidemia.


Homozygous Familial Hypercholesterolemia (HoFH)


VYTORIN is indicated for the reduction of elevated total-C and

LDL-C in patients with homozygous familial hypercholesterolemia, as an

adjunct to other lipid-lowering treatments (e.g., LDL apheresis) or if

such treatments are unavailable.

Therapy with lipid-altering agents should be a component of

multiple risk-factor intervention in individuals at increased risk for

atherosclerotic vascular disease due to hypercholesterolemia.

Lipid-altering agents should be used in addition to an appropriate

diet (including restriction of saturated fat and cholesterol) and when

the response to diet and other non-pharmacological measures has been

inadequate. (See NCEP Adult Treatment Panel (ATP) III Guidelines,

summarized in Table 4.)


Table 4


Summary of NCEP ATP III Guidelines



LDL Level at

Which to LDL level at

LDL Goal Initiate Which to

Risk Category (mg/dL) TherapeuticConsider Drug

Lifestyle Therapy

Changes(a) (mg/dL)

(mg/dL)

-------------------------------------------------------- -------------

(greater than

CHD or CHD risk equivalents(b) less (greater or equal to)

(10-year risk greater than20%)(c) than 100 than or 130 (100-129:

equal to drug

100 optional)(d)

-------------------------------------------------------- -------------

10-year risk

10-20%:

(greater

2+ Risk factors(e) less (greater than=)130(c)

(10-year risk (less than or than 130 than or 10-year risk

equal to 20%)(c) equal to)130 less

than 10%:

(greater

than or

equal to)160(c)

------------------------------------------------------- --------------

(greater

than=)190

0-1 Risk factor(f) less (greater (160-189:

than 160 than or LDL-lowering

equal to) drug

160 optional)

----------------------------------------------------------------------



(a )Therapeutic lifestyle changes include: 1) dietary changes:

reduced intake of saturated fats (less than 7% of total calories) and

cholesterol (less than 200 mg per day), and enhancing LDL lowering

with plant stanols/sterols (2 g/d) and increased viscous (soluble)

fiber (10-25 g/d), 2) weight reduction, and 3) increased physical

activity.

(b )CHD risk equivalents comprise: diabetes, multiple risk factors

that confer a 10-year risk for CHD greater than 20%, and other

clinical forms of atherosclerotic disease (peripheral arterial

disease, abdominal aortic aneurysm and symptomatic carotid artery

disease).

(c )Risk assessment for determining the 10-year risk for

developing CHD is carried out using the Framingham risk scoring. Refer

to JAMA, May 16, 2001; 285 (19): 2486-2497, or the NCEP website

(http://www.nhlbi.nih.gov) for more details.

(d) Some authorities recommend use of LDL-lowering drugs in this

category if an LDL cholesterol less than 100 mg/dL cannot be achieved

by therapeutic lifestyle changes. Others prefer use of drugs that

primarily modify triglycerides and HDL, e.g., nicotinic acid or

fibrate. Clinical judgment also may call for deferring drug therapy in

this subcategory.

(e )Major risk factors (exclusive of LDL cholesterol) that modify

LDL goals include cigarette smoking, hypertension (BP (greater than or

equal to )140/90 mm Hg or on anti-hypertensive medication), low HDL

cholesterol (less than 40 mg/dL), family history of premature CHD (CHD

in male first-degree relative less than 55 years; CHD in female

first-degree relative less than 65 years), age (men (greater than or

equal to )45 years; women (greater than or equal to )55 years). HDL

cholesterol (greater than or equal to )60 mg/dL counts as a "negative"

risk factor; its presence removes one risk factor from the total

count.

(f )Almost all people with 0-1 risk factor have a 10-year risk

less than 10%; thus, 10-year risk assessment in people with 0-1 risk

factor is not necessary.

Prior to initiating therapy with VYTORIN, secondary causes for

dyslipidemia (i.e., diabetes, hypothyroidism, obstructive liver

disease, chronic renal failure, and drugs that increase LDL-C and

decrease HDL-C (progestins, anabolic steroids, and corticosteroids)),

should be excluded or, if appropriate, treated. A lipid profile should

be performed to measure total-C, LDL-C, HDL-C and TG. For TG levels

greater than 400 mg/dL (greater than 4.5 mmol/L), LDL-C concentrations

should be determined by ultracentrifugation.

At the time of hospitalization for an acute coronary event, lipid

measures should be taken on admission or within 24 hours. These values

can guide the physician on initiation of LDL-lowering therapy before

or at discharge.


CONTRAINDICATIONS


Hypersensitivity to any component of this medication.


Active liver disease or unexplained persistent elevations in serum

transaminases (see WARNINGS, Liver Enzymes).

Pregnancy and lactation. Atherosclerosis is a chronic process and

the discontinuation of lipid-lowering drugs during pregnancy should

have little impact on the outcome of long-term therapy of primary

hypercholesterolemia. Moreover, cholesterol and other products of the

cholesterol biosynthesis pathway are essential components for fetal

development, including synthesis of steroids and cell membranes.

Because of the ability of inhibitors of HMG-CoA reductase such as

simvastatin to decrease the synthesis of cholesterol and possibly

other products of the cholesterol biosynthesis pathway, VYTORIN is

contraindicated during pregnancy and in nursing mothers. VYTORIN

should be administered to women of childbearing age only when such

patients are highly unlikely to conceive. If the patient becomes

pregnant while taking this drug, VYTORIN should be discontinued

immediately and the patient should be apprised of the potential hazard

to the fetus (see PRECAUTIONS, Pregnancy).


WARNINGS


Myopathy/Rhabdomyolysis


In clinical trials, there was no excess of myopathy or

rhabdomyolysis associated with ezetimibe compared with the relevant

control arm (placebo or HMG-CoA reductase inhibitor alone). However,

myopathy and rhabdomyolysis are known adverse reactions to HMG-CoA

reductase inhibitors and other lipid-lowering drugs. In clinical

trials, the incidence of CK greater than 10 X the upper limit of

normal (ULN) was 0.2% for VYTORIN.

Simvastatin, like other inhibitors of HMG-CoA reductase,

occasionally causes myopathy manifested as muscle pain, tenderness or

weakness with creatine kinase above 10 X ULN. Myopathy sometimes takes

the form of rhabdomyolysis with or without acute renal failure

secondary to myoglobinuria, and rare fatalities have occurred. The

risk of myopathy is increased by high levels of HMG-CoA reductase

inhibitory activity in plasma.


-- Because VYTORIN contains simvastatin, the risk of

myopathy/rhabdomyolysis is increased by concomitant use of

VYTORIN with the following:


Potent inhibitors of CYP3A4: Cyclosporine, itraconazole,

ketoconazole, erythromycin, clarithromycin, HIV protease inhibitors,

nefazodone, or large quantities of grapefruit juice (greater than 1

quart daily), particularly with higher doses of VYTORIN (see CLINICAL

PHARMACOLOGY, Pharmacokinetics; PRECAUTIONS, Drug Interactions, CYP3A4

Interactions).


Other drugs:


Gemfibrozil, particularly with higher doses of VYTORIN (see

CLINICAL PHARMACOLOGY, Pharmacokinetics; PRECAUTIONS, Drug

Interactions, Interactions with lipid-lowering drugs that can cause

myopathy when given alone).

Other lipid-lowering drugs (other fibrates or (greater than or

equal to )1 g/day of niacin) that can cause myopathy when given alone

(see PRECAUTIONS, Drug Interactions, Interactions with lipid-lowering

drugs that can cause myopathy when given alone).

Amiodarone or verapamil with higher doses of VYTORIN (see

PRECAUTIONS, Drug Interactions, Other drug interactions). In an

ongoing clinical trial, myopathy has been reported in 6% of patients

receiving simvastatin 80 mg and amiodarone. In an analysis of clinical

trials involving 25,248 patients treated with simvastatin 20 to 80 mg,

the incidence of myopathy was higher in patients receiving verapamil

and simvastatin (4/635; 0.63%) than in patients taking simvastatin

without a calcium channel blocker (13/21,224; 0.061%).


-- The risk of myopathy/rhabdomyolysis is dose related for

simvastatin. The incidence in clinical trials, in which

patients were carefully monitored and some interacting drugs

were excluded, has been approximately 0.02% at 20 mg, 0.07% at

40 mg and 0.3% at 80 mg.


Consequently:


1. Use of VYTORIN concomitantly with itraconazole, ketoconazole,

erythromycin, clarithromycin, HIV protease inhibitors, nefazodone, or

large quantities of grapefruit juice (greater than 1 quart daily)

should be avoided. If treatment with itraconazole, ketoconazole,

erythromycin, or clarithromycin is unavoidable, therapy with VYTORIN

should be suspended during the course of treatment. Concomitant use

with other medicines labeled as having a potent inhibitory effect on

CYP3A4 at therapeutic doses should be avoided unless the benefits of

combined therapy outweigh the increased risk.

2. There is an increased risk of myopathy when simvastatin is used

concomitantly with gemfibrozil or other fibrates; the safety and

effectiveness of ezetimibe administered with fibrates have not been

established. Therefore, the concomitant use of VYTORIN and fibrates

should be avoided. (See PRECAUTIONS, Drug Interactions, Other Drug

Interactions, Fibrates.)

3. Caution should be used when prescribing lipid-lowering doses

((greater than or equal to )1 g/day) of niacin with VYTORIN, as niacin

can cause myopathy when given alone. The benefit of further

alterations in lipid levels by the combined use of VYTORIN with niacin

should be carefully weighed against the potential risks of this drug

combination.

4. The dose of VYTORIN should not exceed 10/10 mg daily in

patients receiving concomitant medication with cyclosporine. The

benefits of the use of VYTORIN in patients receiving cyclosporine

should be carefully weighed against the risks of this combination.

(See PRECAUTIONS, Drug Interactions, Other Drug Interactions,

Cyclosporine.)

5. The dose of VYTORIN should not exceed 10/20 mg daily in

patients receiving concomitant medication with amiodarone or

verapamil. The combined use of VYTORIN at doses higher than 10/20 mg

daily with amiodarone or verapamil should be avoided unless the

clinical benefit is likely to outweigh the increased risk of myopathy.

6. All patients starting therapy with VYTORIN, or whose dose of

VYTORIN is being increased, should be advised of the risk of myopathy

and told to report promptly any unexplained muscle pain, tenderness or

weakness. VYTORIN therapy should be discontinued immediately if

myopathy is diagnosed or suspected. The presence of these symptoms,

and/or a CK level greater than 10 times the ULN indicates myopathy. In

most cases, when patients were promptly discontinued from simvastatin

treatment, muscle symptoms and CK increases resolved. Periodic CK

determinations may be considered in patients starting therapy with

VYTORIN or whose dose is being increased, but there is no assurance

that such monitoring will prevent myopathy.

7. Many of the patients who have developed rhabdomyolysis on

therapy with simvastatin have had complicated medical histories,

including renal insufficiency usually as a consequence of

long-standing diabetes mellitus. Such patients taking VYTORIN merit

closer monitoring. Therapy with VYTORIN should be temporarily stopped

a few days prior to elective major surgery and when any major medical

or surgical condition supervenes.


Liver Enzymes


In three placebo-controlled, 12-week trials, the incidence of

consecutive elevations ((greater than or equal to )3 X ULN) in serum

transaminases was 1.7% overall for patients treated with VYTORIN and

appeared to be dose-related with an incidence of 2.6% for patients

treated with VYTORIN 10/80. In controlled long-term (48-week)

extensions, which included both newly-treated and previously-treated

patients, the incidence of consecutive elevations ((greater than or

equal to )3 X ULN) in serum transaminases was 1.8% overall and 3.6%

for patients treated with VYTORIN 10/80. These elevations in

transaminases were generally asymptomatic, not associated with

cholestasis, and returned to baseline after discontinuation of therapy

or with continued treatment.

It is recommended that liver function tests be performed before

the initiation of treatment with VYTORIN, and thereafter when

clinically indicated. Patients titrated to the 10/80-mg dose should

receive an additional test prior to titration, 3 months after

titration to the 10/80-mg dose, and periodically thereafter (e.g.,

semiannually) for the first year of treatment. Patients who develop

increased transaminase levels should be monitored with a second liver

function evaluation to confirm the finding and be followed thereafter

with frequent liver function tests until the abnormality(ies) return

to normal. Should an increase in AST or ALT of 3 X ULN or greater

persist, withdrawal of therapy with VYTORIN is recommended.

VYTORIN should be used with caution in patients who consume

substantial quantities of alcohol and/or have a past history of liver

disease. Active liver diseases or unexplained persistent transaminase

elevations are contraindications to the use of VYTORIN.


PRECAUTIONS


Information for Patients


Patients should be advised about substances they should not take

concomitantly with VYTORIN and be advised to report promptly

unexplained muscle pain, tenderness, or weakness (see list below and

WARNINGS, Myopathy/Rhabdomyolysis). Patients should also be advised to

inform other physicians prescribing a new medication that they are

taking VYTORIN.


Hepatic Insufficiency


Due to the unknown effects of the increased exposure to ezetimibe

in patients with moderate or severe hepatic insufficiency, VYTORIN is

not recommended in these patients. (See CLINICAL PHARMACOLOGY,

Pharmacokinetics, Special Populations.)

Drug Interactions (See also CLINICAL PHARMACOLOGY, Drug

Interactions)


VYTORIN


CYP3A4 Interactions


Potent inhibitors of CYP3A4 (below) increase the risk of myopathy

by reducing the elimination of the simvastatin component of VYTORIN.

See WARNINGS, Myopathy/Rhabdomyolysis, and CLINICAL PHARMACOLOGY,

Pharmacokinetics, Drug Interactions.


Itraconazole


Ketoconazole


Erythromycin


Clarithromycin


HIV protease inhibitors


Nefazodone


Cyclosporine


Large quantities of grapefruit juice (greater than 1 quart daily)


Interactions with lipid-lowering drugs that can cause myopathy

when given alone


See WARNINGS, Myopathy/Rhabdomyolysis.


The risk of myopathy is increased by gemfibrozil and to a lesser

extent by other fibrates and niacin (nicotinic acid) ((greater than or

equal to )1 g/day).


Other drug interactions


Amiodarone or Verapamil: The risk of myopathy/rhabdomyolysis is

increased by concomitant administration of amiodarone or verapamil

(see WARNINGS, Myopathy/Rhabdomyolysis).

Cholestyramine: Concomitant cholestyramine administration

decreased the mean AUC of total ezetimibe approximately 55%. The

incremental LDL-C reduction due to adding VYTORIN to cholestyramine

may be reduced by this interaction.

Cyclosporine: Caution should be exercised when initiating VYTORIN

in patients treated with cyclosporine due to increased exposure to

ezetimibe. This exposure may be greater in patients with severe renal

insufficiency. In patients treated with cyclosporine, the potential

effects of the increased exposure to ezetimibe from concomitant use

should be carefully weighed against the benefits of alterations in

lipid levels provided by ezetimibe. In a pharmacokinetic study in

post-renal transplant patients with mildly impaired or normal renal

function (creatinine clearance of greater than 50 mL/min), concomitant

cyclosporine administration increased the mean AUC and Cmax of total

ezetimibe 3.4-fold (range 2.3- to 7.9-fold) and 3.9-fold (range 3.0-

to 4.4-fold), respectively. In a separate study, the total ezetimibe

exposure increased 12-fold in one renal transplant patient with severe

renal insufficiency receiving multiple medications, including

cyclosporine. (See CLINICAL PHARMACOLOGY, Drug Interactions and

WARNINGS, Myopathy/Rhabdomyolysis.)

Digoxin: Concomitant administration of a single dose of digoxin in

healthy male volunteers receiving simvastatin resulted in a slight

elevation (less than 0.3 ng/mL) in plasma digoxin concentrations

compared to concomitant administration of placebo and digoxin.

Patients taking digoxin should be monitored appropriately when VYTORIN

is initiated.

Fibrates: The safety and effectiveness of VYTORIN administered

with fibrates have not been established.

Fibrates may increase cholesterol excretion into the bile, leading

to cholelithiasis. In a preclinical study in dogs, ezetimibe increased

cholesterol in the gallbladder bile (see ANIMAL PHARMACOLOGY).

Coadministration of VYTORIN with fibrates is not recommended until use

in patients is studied. (See WARNINGS, Myopathy/Rhabdomyolysis.)

Warfarin: Simvastatin 20-40 mg/day modestly potentiated the effect

of coumarin anticoagulants: the prothrombin time, reported as

International Normalized Ratio (INR), increased from a baseline of 1.7

to 1.8 and from 2.6 to 3.4 in a normal volunteer study and in a

hypercholesterolemic patient study, respectively. With other statins,

clinically evident bleeding and/or increased prothrombin time has been

reported in a few patients taking coumarin anticoagulants

concomitantly. In such patients, prothrombin time should be determined

before starting VYTORIN and frequently enough during early therapy to

insure that no significant alteration of prothrombin time occurs. Once

a stable prothrombin time has been documented, prothrombin times can

be monitored at the intervals usually recommended for patients on

coumarin anticoagulants. If the dose of VYTORIN is changed or

discontinued, the same procedure should be repeated. Simvastatin

therapy has not been associated with bleeding or with changes in

prothrombin time in patients not taking anticoagulants.


Ezetimibe


Fenofibrate: In a pharmacokinetic study, concomitant

[Darkwave]

Mag nicht jemand ein Abstract verfassen und das in #15 gesagte prägnant zusammenfassen? -ist mir ein bischen viel Stoff.

[Kurswechsel]

#16, @dunkleWelle,

im Prinzip gern - nur wäre es viel Mühe, daraus eine Übersetzung & Zusammenfassung zu machen.

@alle,

Nachrichtenüberblick:

11.11. / 04:12 Merck drug marketing rights win pushes up blue-chips The Scotsman (GB)
11.11. / 00:15 Senate to hold hearing on FDA`s handling of Vioxx Interactive Investor (GB)

http://business.scotsman.com/index.cfm?id=1301802004

Merck drug marketing rights win pushes up blue-chips

Susan Nelson
Market Reports

BLUE-chip stocks rose yesterday in the United States, helped by drugmaker Merck, but technology stocks were weaker as results from tech bellwether Cisco Systems disappointed Wall Street.

Investors were also waiting for an expected interest rate hike from the Federal Reserve later in the day.

Merck rose about 2 per cent, or 52 cents, to $26.65 after Japan’s Ono Pharmaceuticals gave Merck the rights to develop and market an acute stroke drug worldwide except for Japan, South Korea and Taiwan. Merck shares have fallen about 40 per cent since the company’s arthritis drug Vioxx was recalled in late September after being linked to heart attacks and strokes.

Oppenheimer analyst Scott Henry said Merck’s gains appeared only slightly due to its licensing of the drug from Ono. He said: "It’s because the stock has been beaten down so badly that at some point people are going to start nibbling on it."

[Kurswechsel]

Nachrichtenüberblick:

11.11. / 21:55 Fitch stuft Merck-Rating ab BörseGo (DE)
11.11. / 21:27 Fitch cuts Merck debt to `AA` Interactive Investor (GB)
11.11. / 21:03 Fitch cuts Merck debt to `AA` CBSMarketWatch (US)
11.11. / 18:45 Merck "neutral weight" New Ratings (US)
11.11. / 17:12 Waiting Game for Merck The Street (US)
11.11. / 14:33 U.S. Stock-Index Futures Rise as Oil Prices Drop, Microsoft, ... Bloomberg (US)
11.11. / 13:43 Merck & Co. Depotbeimischung Aktiencheck (DE)

http://www.aktiencheck.de/Analysen/default_an.asp?sub=4&page…

11.11.2004
Merck & Co. Depotbeimischung
Grüner VM

Die Experten von Grüner VM sehen die Aktie von Merck & Co. (ISIN US5893311077/ WKN 851719) als spekulative Depotbeimischung.

Die amerikanische Merck-Aktie sei in den letzten Wochen massiv eingebrochen. Nachdem - für die Märkte völlig überraschend - bekannt geworden sei, dass Merck einen seiner Hauptumsatzträger, das Medikament Vioxx mit sofortiger Wirkung vom Markt habe nehmen müssen, sei der Wert massiv abverkauft worden. Langzeitstudien hätten ergeben, dass das Arthritis-Präparat das Risiko von Schlaganfällen und Herzerkrankungen signifikant erhöhe.

Bei 2,219 Mrd. ausstehenden Aktien errechne sich eine aktuelle Marktkapitalisierung von ca. 58,6 Mrd. US-Dollar. Im Vergleich zum bisherigen 52-Wochenhoch bei 49,33 USD habe sich damit der Börsenwert des Unternehmens fast halbiert. Anfang Dezember 2000 habe die Aktie noch bei über 96 US-Dollar notiert und habe damals einen Börsenwert von über 200 Mrd. US-Dollar gehabt.

Die Veröffentlichung der Meldung bezüglich der Vioxx-Rücknahme habe einen extremen Kursrutsch verursacht. Im Chart habe dies zwei große Abwärtslücken (Gaps) gerissen, die mittel- bis langfristig geschlossen werden sollten. Das Potential sei beträchtlich. Die Lücken wären erst bei Kursen von 31 USD bzw. 45 USD geschlossen. Das Potential bis zum Gapclose betrage aus heutiger Sicht damit 19% bzw. 73%. Es hätten sich bereits einige positive Divergenzen (u.a. beim MACD) gebildet, der Wert sei in allen Zeitebenen massiv überverkauft.

Im Wochenchart habe sich ein großer Bullkeil über mehrere Jahre gebildet. Der Kurs sei in den letzten Tagen exakt an der Unterkante angekommen. Zumindest eine technische Reaktion nach oben sei zu erwarten.

Die gröbsten Risiken sollten nun eingepreist sein. Die Experten würden die Abschläge eher für überzogen halten.

Nach Ansicht der Experten von Grüner VM eignet sich die Merck-Aktie als spekulative Depotbeimischung. Die Bewertung sei günstig wie seit vielen Jahren nicht mehr. Die technische Situation verspreche ein gutes Chance-Risiko-Verhältnis.


http://www.newratings.com/analyst_news/article_508545.html

Merck "neutral weight"

Thursday, November 11, 2004 12:27:32 PM ET
Prudential Financial


NEW YORK, November 11 (newratings.com) – Analyst Tim Anderson of Prudential Financial issues a "neutral weight" rating on Merck & Company (MRK.NYS). The target price is set to $33.

In a research note published this morning, the analyst mentions that the US Senate Financial Committee is scheduled to begin its official investigation into the patient safety issues associated with Merck`s Vioxx drug next week. The company`s current CEO, Ray Gilmartin, is scheduled to testify before the committee regarding this probe, Prudential Financial says. The analyst anticipates significant near-term headline risks for Merck`s share price, in the light of this investigation.



http://www.newratings.com/analyst_news/article_500248.html

Merck "equal-weight," estimates revised

Tuesday, October 26, 2004 8:30:31 AM ET
Morgan Stanley

NEW YORK, October 26 (newratings.com) – Analysts at Morgan Stanley reiterate their "equal-weight" rating on Merck & Company (MRK.NYS). The target price is set to $38.

In a research note published this morning, the analysts mention that the company has raised its 4Q04 gross margin guidance from 74.5%-75.5% to 76.5%-77.5%. The EPS estimate for 4Q04 has been raised from $0.49 to $0.51, while the EPS estimates for 2005 and 2006 have been reduced marginally.

[Kurswechsel]

Wettbewerb zwischen Glaxo und Merck & Co um Kassenfüller: Impfung gegen Gebärmutterhalskrebs.

Es geht um einen künftigen Gesamtmarkt von 2 Milliarden $. Mit Vioxx sind 2,5 Milliarden $ ausgefallen. Solche Ausfälle wären also größtenteils wettgemacht für den, der sich den Hauptanteil sichert.

"Glaxo said the market for the treatment may be worth as much as $2 billion."

"Merck, based in Whitehouse Station, New Jersey, needs a success with its similar vaccine after pulling the painkiller Vioxx from the market in September because of a link to heart attacks and stroke. Vioxx accounted for $2.5 billion, or 11 percent, of its sales last year."

http://www.bloomberg.com/apps/news?pid=10000081&sid=aPHqJu4Y…

Australia & New Zealand

Glaxo Vaccine Works Against Cervical-Cancer Virus in a Study

Nov. 12 (Bloomberg) -- GlaxoSmithKline Plc`s experimental vaccine was effective against a virus that causes cervical cancer in a study, the first to show the treatment may provide protection against the No. 2 cause of cancer death among women.

The vaccine, called Cervarix, was 100 percent effective for as long as two years among 366 women who received all doses according to schedule, according to a company-funded study published in the British medical journal Lancet. That compares with 16 infections among 355 women given placebos.

The findings are behind Glaxo`s decision, announced Oct. 28, to file for regulatory approval of Cervarix two years ahead of schedule, competing with Merck & Co. to be first to market with a cervical cancer vaccine. Glaxo, Europe`s biggest drugmaker, is studying the vaccine in a trial of 13,000 women and plans to seek European approval in 2006. Merck has said it plans to file for U.S. approval of its vaccine in the second half of 2005.

``Glaxo has pointed to this as a significant development for them,`` Mike Ward, an analyst with Code Securities in London said in an interview. ``Obviously these guys are chasing Merck.``

Cervical cancer is one of the most common malignancies among women, with about 510,000 new cases each year, and the second leading cause of death from cancer in women worldwide, according to the World Health Organization.

Glaxo said the market for the treatment may be worth as much as $2 billion.

About 630 million women worldwide are infected with the sexually transmitted papillomavirus, according to WHO estimates.

Efficacy

``I think this is incredibly exciting,`` Diane Harper, associate professor of gynecology at Dartmouth Medical School in Hanover, New Hampshire and lead researcher of the study said in an interview. ``For three decades we have known that this virus is the only cause of cervical cancer. We`re talking about a vaccine that could wipe out three-quarters of the cervical cancer in the world.``

Harper has conducted company-sponsored research on both Glaxo`s and Merck`s cervical cancer vaccines.

About 65 percent of the total 1,113 patients aged 15 to 25 years old completed the dosing schedule, receiving three shots of either the vaccine or placebo, according to the study. The vaccine was shown to be 95 percent effective among the 560 women who received at least one dose of the vaccine, compared with 553 women given placebos.

Glaxo`s vaccine targets two forms of the virus, HPV 16 and HPV 18, that have been linked to 70 percent of cervical cancers.

The goal would be to give the vaccine to girls before they are sexually active, Harper said.

Growth Driver

Cervarix has emerged as a potential future growth driver for Glaxo, which has lost $2.2 billion in sales this year to makers of cheaper generic drugs. Merck, based in Whitehouse Station, New Jersey, needs a success with its similar vaccine after pulling the painkiller Vioxx from the market in September because of a link to heart attacks and stroke. Vioxx accounted for $2.5 billion, or 11 percent, of its sales last year.

``The reasons why we can accelerate development is first, the highest efficacy data we have generated,`` Philippe Monteyne, vice president for regulatory affairs at Glaxo`s vaccine unit, said in an interview. ``The second is that we have a fast recruitment of subjects, which shows a high interest in the vaccine.``

At a medical meeting on Nov. 1, Merck presented results that showed its vaccine, which targets just the HPV16 form of virus, continued to protect against the disease for four years. Merck is testing a more advanced vaccine that targets four forms of the virus in a study of 25,000 women. The results will be released next year, Merck spokeswoman Janet Skidmore said in an interview.

Risk Factor

Infection with the papillomavirus is the main risk factor for cervical cancer, according to the U.S. National Institutes of Health. The virus is also associated with genital warts.

While PAP smear tests help reduce serious cases of cervical cancer through early detection, lack of screening programs in poor nations has led to higher rates of cervical cancer death in developing countries, according to WHO.

About 80 percent of cervical cancer deaths are in developing countries.

``In a perfect world cervical cancer could be reduced by 70 percent,`` with an effective vaccine, Harper said. ``That would be phenomenal.``


To contact the reporter on this story:
Angela Zimm in London at at [e-mail]

To contact the editor of this story:
Mark Rohner at [e-mail]
Last Updated: November 11, 2004 19:01 EST

[jxfro]

Wenn man mal eine Aktie billig reinnehmen will, dann muß man auch mal was riskieren. Merck ist jetzt so ein Fall. Auf diesem Niveau wird das Risiko nach unten immer kleiner. Nach oben gibt es einen gewaltigen Spielraum, da braucht nur eine günstige news früher oder später kommen. Und sie wird garantiert kommen.
Viel Glück.

[snjezana]

Hallo ihr``s

Es wird wie immer laufen, Kurswechsel hat es ja bereits mit MO und Bayer angerissen, irgendwann kommt die aussergerichtliche Einigung und gut isses. Hab meinem Bruder 75 Merck bei 24,50 Euro reingelegt, dann bei 20,40 Euro nochmals 150 und nach dem Langfristchart sollte auf Dollarbasis bei 20$ Schluss sein, das würde mich freuen, denn diese Kaufgelegenheiten kommen nur ab und an, siehe Schwarz Pharma wegen Tensobon, Bayer wegen Lipobay ....

Bayer im Frühjahr 2003 bei 10,30 Euro gekauft, zweimal Dividende kassiert ............. was will man mehr!

Viel Glück und Mut weiterhin und Dank an Kurswechsel für das Hereinstellen,

Snjezana

[franzwerner]

Ganz meine Rede, tut mir heute noch leid Bayer damals nicht gebührend gewichtet zu habe. Passiert mir diesmal nicht.

[Outperformer02]

Wo Kauft ihr Merck& Co?

Ist es besser in Amerika zu kaufen wegen dem größeren Handelsvolumen?

[Darkwave]

Na klar in den Staaten. Hier ist der Umsatz an durschnittlichen Tagen einfach zu gering. Ich bin bei Stocknet und zahle da für eine US-Order 10 EUR Grundgebühr und 0,10% Provision, also für eine 8000 € Order wären das 17,60, bei 1500 € etwa 11 €.

Der Kurs scheint ja bei 27 $ jetzt einen Widerstand aufgebaut zu haben. Wird wohl noch etwas weiter gehen mit dem Seitwärtstrend. Denke, man braucht jetzt einiges an Geduld, weshalb ich auch vorerst nicht mehr nachkaufe (verbillige)

[Darkwave]

Angesichts der langfristig zu erwartenden Dollarschwäche könnte jedoch auch ein Kauf in Deutschland vorteilhaft sein, da man dann jegliches Währunsrisiko ausschließen kann. Innerhalb von sieben Tagen hat der Dollar 3 Cent an Wert gegenüber dem Euro verloren, und angesichts der warnenden Worte von Greespan und dem US-Leistungsbilanz zeichnet sich ein Dollarflucht ab.

[Erpressungskennwort]

wie Meinen Mr Darkwave? Jegliches FX Risiko ausgeschlossen bei kauf in FFT? Au weia. Der Preis wird in NY festgelegt und per FX Kurs in Euro umgerechnet. Wenn der Dollar fällt bekommst du eben weniger Euro bei Verkauf deiner Aktien. Mit Kauf der Aktie hast du ein Dollar Asset gekauft, und wenn die Währung fällt dann fällt auch der Wert deines assets (in Euro gerechnet). Ob du das Teil in NY, FFT oder auf dem Mond kaufst ist egel.

[Kurswechsel]

Dividende unverändert.
Zum Kursgraphen von Merck & Co:



Der Kurs scheint sich zu fangen.

http://biz.yahoo.com/rb/041124/health_merck_dividend_1.html

Reuters
Merck Maintains Quarterly Dividend
Wednesday November 24, 7:40 am ET

NEW YORK (Reuters) - Merck & Co. Inc. (NYSE:MRK - News) has declared its regular quarterly dividend, maintaining its status as one of the richest dividend payors among blue-chip stocks, even following the withdrawal of its arthritis drug Vioxx and subsequent loss of nearly $27 billion in market value.

In a statement after the market closed on Tuesday, the company declared a quarterly dividend of 38 cents a share for the first quarter of 2005, payable on Jan. 3 to stockholders of record on Dec. 3, 2004.

The payout represents a 5.6 percent yield based on Merck`s closing price Tuesday of $27.15 a share and is the second-highest among the 30 stocks in the Dow Jones industrial average (^DJI - News). The only Dow component with a higher yield is Microsoft Corp. (NasdaqNM:MSFT - News), but its 11.6 percent yield is skewed by its recent one-time $3 a share dividend.

Merck said at the time of the withrawal of Vioxx in late September that it would not change its dividend.

[Kurswechsel]

Merck & Co weckt Übernahmephantasie

"Merck Stirs Up the Takeover Talk"
...
"Still, a buyout isn`t out of the question. That`s because Merck is very cheap"

Auch wenn`s nur ein Gerücht bleibt, bildet es ein Gegengewicht zur Prozeßangst.

Der Analyst von Lehman Brothers spricht von "Überreaktion des Marktes":

"Lehman Brothers analyst C. Anthony Butler says after deducting the lost revenues for Vioxx, the decline in Merck`s market capitalization reflects the expectation that the Vioxx litigation will cost between $25 billion to $30 billion. "I think the market has overreacted," says Butler."

Nachrichtenüberblick:

30.11. / 13:48 Merck moves to retain key staff Boston Globe (US)
30.11. / 13:48 Vioxx study`s publication derailed by FDA queries Boston Globe (US)
30.11. / 13:09 Merck adopts plan to retain bosses Seattle Times (US)
30.11. / 11:05 Merck adopts compensation plan for top offiicals New Ratings (US)
30.11. / 10:42 Reaktion auf Vioxx-Rückzug Tages-Anzeiger (CH)
30.11. / 10:23 Merck Stirs Up the Takeover Talk Business Week (US)
30.11. / 09:48 Novartis zieht Zulassung von Vioxx-ähnlichem Medikament ... Moneycab (CH)
30.11. / 09:18 Novartis zieht Zulassung von Vioxx-ähnlichem Medikament ... swissinfo (CH)
30.11. / 06:30 Merck Demands Scientific Proof During Vioxx Lawsuits, Court ... Bloomberg (US)
30.11. / 05:37 «Goldene Fallschirme» für Merck-Manager NZZ online (CH)

http://www.businessweek.com/bwdaily/dnflash/nov2004/nf200411…

NOVEMBER 30, 2004
NEWS ANALYSIS
By Amy Barrett

Merck Stirs Up the Takeover Talk

Is a new compensation plan for top execs in case of a deal or liquidation just a coincidence? The drugmaker says so

Looks like Merck & Co. is trying to avert a management exodus. On Nov. 29, it disclosed in a Securities & Exchange Commission filing that the board had approved a new compensation package for the top 230 executives in the event Merck (MRK ) is bought or liquidated.

Since the pharmaceutical giant continues to reel from the market withdrawal of its painkiller Vioxx some two months ago, investors were hardly surprised by this move to shore up the executive suite. The stock was down three cents from its preceding close, to $27.67, on Nov. 29.

"Continuity is essential, especially at an R&D organization, where teamwork and familiarity with what`s being developed is important," says Jon Fisher, head of equity research at Fifth Third Bank.

COMPETITIVE GAP. Under the plan, executives are entitled to certain levels of severance based on their salary and bonus -- and, in some cases, other benefits, including medical and dental coverage for a period of time.

Spokeswoman Anita Larsen says Merck began looking into making these changes in control provisions earlier this year, before the Vioxx withdrawal. She says it had no such protections in the event of a change in control, and this was identified as a competitive gap in the drugmaker`s compensation program.

"It is in no way a reaction to Vioxx, and the adoption of the program in no way implies that a merger or major acquisition is imminent or desired," Larsen says.

BUYOUT BAIT? In fact, for now, many on Wall Street believe a Merck takeover is a long shot. That`s because analysts have had a hard time estimating how much the Vioxx debacle could ultimately cost Merck. An analysis by Merrill Lynch figured the tab could be as low as $4 billion -- or as high as $18 billion.

Still, a buyout isn`t out of the question. That`s because Merck is very cheap: The stock has fallen 40% since it pulled Vioxx at the end of September. Lehman Brothers analyst C. Anthony Butler says after deducting the lost revenues for Vioxx, the decline in Merck`s market capitalization reflects the expectation that the Vioxx litigation will cost between $25 billion to $30 billion. "I think the market has overreacted," says Butler.

That`s why some investors say at these prices competitors may very well be tempted to make a move. "Is the Vioxx liability a hurdle? Absolutely," says Win Murray, an analyst with Merck shareholder Harris Associates. "Does it absolutely preclude a deal? Prior deals in this industry would say it does not."

UNFORTUNATE RECORD. In fact, Pfizer (PFE ) bought Warner-Lambert in 2000 despite lawsuits stemming from its withdrawn diabetes drug Rezulin. But only 2 million people took that medication, a fraction of the 20 million in the U.S. alone who have taken Vioxx.

That`s why the Vioxx withdrawal may prove to be the most costly recall in pharmaceutical industry history. The question now is whether any rival drugmaker has the iron stomach to buy Merck in spite of the unknowns that continue to swirl around it.

[Erpressungskennwort]

seit gestern bin ich mit 500 Stk. als Depotbeimischung dabei.

Wird wahrscheinlich ein längeres Investment, dem Baby muss man ein bisschen Zeit geben um wieder zu wachsen Aber ich denke dass die Chancen dazu recht gut sind. Die Panikattacke war übertrieben, ein Boden scheint gefunden. Und das dass Patent in 2006 ausläuft wusste man ja schon länger oder.

Merck hat genug Reserven und Potential um sich wieder zu berappeln, man muss aber ein bisschen Zeit einplanen. Falls Übernahmespekulationen dazu kommen umso besser.

[Darkwave]

Guten Timing @Erpressungskennwort

Trotz negativer Nachricht hat die Aktie jetzt angezogen, die 38-Tage Linie sollte nun nachhaltig überwunden werden und dann laufen wir auch schnell wieder auf 30 $.





01.12.2004 08:39:
Merck & Co. wird erneut verklagt

Der Pharmakonzern Merck & Co. (Nachrichten) sieht sich im Zusammenhang mit dem Rückruf des Arthrtis-und Schmerzmittels Vioxx mit einer Klage durch den obersten Rechnungsprüfer des US-Bundesstaates New York, Alan G. Hevesi, konfrontiert. Hevesi wirft Merck & Co. konkret vor, dass der New York-State-Pensionsfonds wegen des Rückrufs einen Verlust von $171 Mio erlitten hat. Damit tritt der oberste Rechnungsprüfer als Hauptkläger einer Sammelklage gegen das Pharmaunternehmen auf.

[Erpressungskennwort]

Danke für die Blumen, auch ein blindes Huhn findet mal ein Korn

Aber im Ernst, Merck ist eine gute (long term) Investmentgelegenheit. Ganz nach dem contrarian Motto: Immer das kaufen was grad keiner will. Jeder der verkaufen wollte sollte jetzt draussen sein, die Analystenkommentare sind auch (fast) alle negativ, was mich immer freut, wenn ich an einem (value) Kauf interessiert bin. Das der Kurs vorgestern um 3% hoch ist trotz einer schlechten Nachricht (noch ne Klage) bestätigt meine Ansicht dass alle bad news eingepreist sind und das Überraschungsmoment in Zukunft eher auf der positiven Seite zu finden sein dürfte.

Bleibt natürlich das Dollar Risiko. Bei meinem Einstieg war der Kurs 1.325. Gut möglich dass der Dollar noch weiter absackt. Allerdings ist der Euro jetzt schon überbewertet gegenüber dem Dollar. Der faire Wert dürfte bei 1.20 liegen. Der Dollar muss gegen die aisiatischen Währungen abwerten, was evtl. noch eine Weile dauern wird bis dort die Zentralbanken Ihre Kursstützungen anpassen. Da mittlerweile jeder und seine Mutter auf steigenden Euro fallenden Dollar spekuliert könnte ich mir vorstellen das es hier bald eine heftige Gegenreaktion gibt. Wie gesagt langfristig sehe ich EUR/$ bei 1.20. Das wird aber erst passieren wenn die Asiaten Aufwerten und der Druck dadurch vom Euro fällt.

Mich wundert das sich hier kaum einer für Merck interessiert.

Ich spiele die Pharmawert/Klage/Kurseinbruch story jetzt mit Merck zum dritten mal. Nr.1 war Elan (Irland) Kauf zu 2 Verkauf zu 8. Nr.2 war Bayer. Beide trades waren mit das beste was ich jemals getradet habe. Für MErck erwarte ich zwar keine 100% aber 50% (einschliesslich FX Gewinn) sollten machbar sein.

[Erich Honecker]

.........jooooo mich juckt es auch......!!!!
...kann mich auch noch bestens an lipobay erinnern......habe dann aber auch nicht die nüsse gehabt und nur anleihen geholt (rentierlich).....meine these ist es ohnehin das in unregelmäßigen Abständen immer neue säue durchs dorf getrieben werden ( Münchner rück z.B.).......aber leider hab ich mich auch schon häufuger geirrt..........!!!

E.H. ( Einverstanden mit kauf )

P.S......für Pfizer gilt m.E. selbiges....!!!

[jxfro]

Merck und Pfizer sind zur Zeit meine beiden wichtigsten Investments.Beide zwischen 20 und 21 Euro gekauft. Jetzt heißt es, auf bessere Zeiten warten, nach unten ist der Spielraum sehr begrenzt, nach oben hängt der Himmel voller Geigen, ein stärkerer Dollar könnte noch eine Schippe drauflegen.

[Darkwave]

Heute um einen Cent unter dem Tageshoch in den Staaten geschlossen. Wird Zeit, das die 30 $-Marke genommen wird. Weiß jemand, wie das mit den Dividendenzahlungen bei US-Werten unter Stocknet aussieht? Am 31. Januar gibt es doch verspätet Weihnachtsgeld (sprich Quartalsdividende), wenn man die Aktien am 31. Dezember hält, wenn ich das richtig verstehe.
Dieser Chart verdeutlicht den Abstand zu Dow, hier ist noch enormes Aufhohlpotenzial.




In den letzten Tagen wurde der Dow schon deutlich outperformed.

[jxfro]

@ Darkwave

Wenn man die Aktie am 1. Dez. 2004 im Depot hatte, bekommt man am 3. Jan. 2005 die Quartalsdividende.

[Darkwave]

Nun kommt ja richtig Pfeffer rein, heute unter hohem Umsatz zweitstärkster Wert hinter Pfizer im Dow. Die 200 Tage-Linie mit Schwung genommen.

[Erpressungskennwort]

Was weiss der Chart was wir (noch) nicht wissen? Wir Merck übernommen? oder laufen wir nur an das gap?

[Steigerwälder]

Hi Fans; bin jetzt seit ein paar Tagen (21.73) auch dabei.
Denke wir werden noch viel Freude an dem Teil haben.

[Darkwave]

Bin fast versucht, Gewinne mitzunehmen, aber dann gibt es keine Dividenzahlung.
Erstes Mini-GAP wurde ja schon mit Bravour geschlossen. Luft bis zum GAP ist noch da, glaube aber nicht, das es im ersten Anlauf überwunden wird.
Morgen sind eigentlich mal Gewinnmitnahmen fällig, da Merck über 10% in wenigen zugelegt hat. Für einen Wert im Dow Jones ist das außerordentlich! Aber hier scheint das keinen groß zu interessieren. Genießen wir also unsere Gewinne im Stillen.
Würde mir auch nicht zu viele Gedanken machen, warum der Kurs jetzt abgeht. Viele Instis sind sich wohl einfach bewusst geworden, das die Untertreibung nach unten übertrieben war und Merck nach wie vor eines der besten Pharmaunternehmen der Welt ist mit einer hübschen Dividendenrendite.

[Steigerwälder]

Kgv von 10, schuldenfrei, bzw. Netto Cash Positionen, EK Rent.: 33%, Nettomarge 20 %....

[jxfro]

@ Darkwave

Mit der Dividendenzahlung hast du anscheinend Probleme. Wer Merck am 1. 12. im Depot hatte, bekommt Anfang Januar die Dividende, auch wenn man nach dem 2.12. das Papier verkauft hat (so wie ich das gemacht habe). Die Dividende läuft also nicht davon.

[alisa10]

Hallo an alle,
habe schon vor Wochen gepostet, das ich abwarte bis die
Celebrex / Bextra Bombe platzt. So wie es aussieht ist es nur ein Bömbchen.
Jedem, der sich einigermaßen mit Merck / Pfizer / Cox 2- Hemmer befasst hat, muss klar gewessen sein, dass so etwas passiert.

Wenn die Meldung vom 17.12.04 ( Studie Dosis 400 - 800 mg ) stimmt, ist auch die viel bessere Wirkungsweise von Vioxx
verständlich, die ja bei 200 mg die Nebenwirkungen verursachten.
Celebrex ist tatsächlich vor 3 Jahren mit Dosis 100 / 200
mg verabreicht worden, mit deutlich( aus eigener Erfahrung )
weniger Erfolg als Vioxx.
Das würde heißen, das Dosen von 100-200 mg diese
Nebenwirkungen nicht haben aber die Beschwerden lindern.
( Und somit keine ausreichenden Chancen zum Klagen ).

Bextra: Falls der Warnhinweis tatsächlich ausreicht ,wird
das Medikament weiterverkauft.

Siehe auch Diskusionen vor einigen Wochen mit Mr.Altria.
Grüße Alisa

[franzwerner]

Wunderbar, jetzt kommt wie erwartet auf Pfizer zum Handkuß.
Die größten Pharmawerte so unter Druck. Da macht es direkt Spaß einzusammeln.
So long.

[Erpressungskennwort]

tja der Dollar Verfall geht leider schneller voran als ich dachte..frisst leider einen Teil der Gewinne wieder auf.
Der Dollarverfall scheint positiv mit der steigenden Börse zu korrelieren. Uns Europäern nutz das leider wenig. Die Story gabs ja schon beim Goldpreis in EURO gerechnet fast unverändert.

[alisa10]

Hallo,
je nachdem wie man zum Dollar eingestellt ist, hat man dann ausreichend Zeit sich in aussichtsreichen US-Werten zu positionieren.....

Irgendwann drehts mal wieder.......

Grüße alisa

[kitchen1]

ja aber dann ist ja wieder die gefahr da, dass bei steigendem $-Kurs die us-aktie wieder fällt, weil der export-wettbewerbsvorteil des us-unternehmens dann wieder sinkt. wenn man vom fallenden dollar spekulativ profitieren will aber keine kurzfristigen devisenoptionen oder so kaufen will, sollte man am besten konservative us- staatsanleihen in $ kaufen, dann hat man bei steigenden $ kursen auf jeden fall seine schäfchen im trockenen.