Merck Delays Key Arthritis Drug

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Merck Delays Key Arthritis Drug

March 15, 2002

WHITEHOUSE STATION, N.J., March 15 (Reuters) - U.S. drugmaker Merck & Co. Inc.

<MRK> on Friday said it

withdrew the original marketing application with U.S. regulators for its

arthritis drug Arcoxia, but plans to submit a new

application seeking wider use for the medicine.

Merck also said it is comfortable with earnings per share estimates in a range

of 69 cents to 72 cents for the first quarter,

and reaffirmed flat earnings growth forecasts for 2002. For 2003, Merck sees

double-digit earnings per share growth.

Arcoxia is a follow-up to Merck's hot- selling arthritis drug, Vioxx, which also

works by selectively blocking the COX-2

enzyme that has been linked to inflammation. The company last year asked U.S.

regulators to approve the new drug for

rheumatoid arthritis, osteoarthritis and pain.

The drugmaker said in a statement that it plans to submit an expanded New Drug

Application for Arcoxia to the U.S. Food

and Drug Administration " in order to include new efficacy data that will better

position the product to compete

successfully in the coxib class, where there already are three entrants. "

Merck is submitting the additional efficacy data to support a new indication for

ankylosing spondylitis, which is a chronic,

inflammatory disorder primarily involving the spine.

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