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Merck Pulls Request for FDA's Approval of Painkiller Arcoxia.

The Record (Hackensack, NJ)

| March 16, 2002 | COPYRIGHT 2007 The Record. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Lewis Krauskopf

Mar. 16--Merck & Co. said it voluntarily withdrew its application for approval of a painkiller deemed critical to its future financial health Friday, raising uncertainty about the drug and sending shares of the company down 5.8 percent.

The Whitehouse Station-based drug maker said the withdrawal would allow the company to expand the application for the drug, Arcoxia, to support a new use for treating a type of spinal inflammation that would better position the product in the market. The company said it would resubmit its application with the Food and Drug Administration.

Analysts, however, weren't buying Merck's explanation.…

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