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DECEMBER 5, 2008

Merck Pares Profit Outlook, Citing Slower Sales, Dollar

Article
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more in Health »

Merck & Co. warned that next year's earnings would fall well below Wall Street estimates, a sign that drug makers, too, are susceptible to the global economic downturn.

The Whitehouse Station, N.J., company, which is in the middle of a major cost-cutting program, estimated its 2009 profit before special items would be $3.15 to $3.30 a share on sales of $23.7 billion to $24.2 billion. Wall Street ...