Merck & Co said on Tuesday it plans to seek marketing approvals this year for an osteoporosis drug and a product to reverse the effects of anesthesia that have long been delayed by safety concerns. The No. 2 U.S. drugmaker will seek approval in the second half of the year for odanacatib, its experimental treatment for osteoporosis in postmenopausal women, and will seek approval in 2014 for sugammadex, meant to reverse the effects of muscle relaxants after surgery.Merck shares were down 2 percent at $57.50 in morning trading on the New York Stock Exchange.The company is counting on odanacatib, sugammadex and other experimental drugs, including promising treatments for hepatitis C and cancer, to boost its earnings growth following generic competition for its Singulair asthma treatment and other brands.But Merck research chief, Roger Perlmutter, in a company meeting with investors in Boston to review research projects, said a numerically higher incidence of stroke and atrial fibrillation - a type of irregular heartbeat most common in the elderly - was seen in patients taking odanacatib than those taking placebos in studies.
Merck & Co., Inc. (Merck) is a global health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products, which it markets directly and through its joint ventures. Shares of MRK fell by 2.2% or $-1.29/share to $57.34. In the past year, the shares have traded as low as $44.62 and as high as $59.84. On average, 11132100 shares of MRK exchange hands on a given day and today's volume is recorded at 5053748.
Source
