Merck to seek US approval for three drugs in 2007

12/13/06 - newratings.com

NEW YORK, December 13 (newratings.com) – Merck Co Inc (MRK) Tuesday announced that it expects to file for the regulatory approval of three new drugs in 2007, MK-0518, Gaboxadol and MK-0524A to treat HIV, insomnia and cholesterol, respectively.

The Whitehouse Station, New Jersey-based company also has four products due to be in late-stage trials, including MK-524B to raise "good" HDL cholesterol, weight loss drug MK-0364, MK-0974 for migraine headaches and MK-0822 to treat osteoporosis by blocking the Cathepsin K protein. The company has already filed for three drugs with the FDA, including Janumet, a diabetes medication and intravenous therapy Emend IV to reduce the nausea and vomiting linked with chemotherapy.

Merck’s EO and president, Richard T Clark, said in a statement that during 2006 the company had gathered the momentum needed to deliver double-digit compound annual earnings per share growth, excluding charges and one-time items, by 2010. Merck’s current and expected business performance, along with its ongoing inventory and capital management programmes, which ensure robust cash flows, underpin the company’s commitment to maintaining its dividend at the current levels and is likely to provide share buyback opportunities, the company said.