Merck & Co Inc
Industry: Major Drugs

Merck is a leading research-driven pharmaceutical products and services company. Merck discovers, develops, manufactures and markets a broad range of innovative products to improve human and animal health, directly and through its joint ventures. Merck-Medco manages pharmacy benefits for employers, insurers and other plan sponsors, encouraging the appropriate use of medicines and providing disease management programs. Through these complementary capabilities, Merck works to improve quality of life and contain overall health-care costs

Business Summary
Merck & Co., Inc. (Merck) is a global research-driven pharmaceutical company that discovers, develops, manufactures and markets a range of products to improve human and animal health, directly and through its joint ventures. Merck's products include therapeutic and preventive agents, generally sold by prescription, for the treatment of human disorders. Sales by category of the Company's products during the year ended December 31, 2004, included atherosclerosis, hypertension/heart failure, osteoporosis, respiratory, anti-inflammatory/analgesics, anti-bacterial/anti-fungal, vaccines/biologicals, urology, ophthalmologicals, and human immunodeficiency virus (HIV) products. Merck sells its products primarily to drug wholesalers and retailers, hospitals, clinics, government agencies and managed healthcare providers, such as health maintenance organizations and other institutions.

Financial Summary
Merck & Co., Inc. is a pharmaceutical company that discovers, develops, produces & markets human/animal health products and services. Merck also provides pharmaceutical benefit services. For the 6 months ended 6/30/05, net sales fell 7% to $10.83B. Net income decreased 38% to $2.09B. Revenues reflect VIOXX withdrawal. Lower income also reflects lower gross margins and the absence of a $176.8M gain on the sales of equity in joint venture.