Merck lowers expectations for 2009

WHITEHOUSE STATION, N.J. The recent weakening of the dollar has lowered earnings forecasts at Merck, the drug maker said Thursday.

“In 2009, we expect strong product volume growth from key products such as Januvia/Janumet, Isentress and Zostavax,” Merck chairman, president and chief executive officer Richard Clark said in a statement. “However, we anticipate that top-line growth will be offset by the effects of a volatile global economy, fluctuations in the foreign exchange markets, as well as continued challenges for certain key products.”

The Whitehouse Station, N.J., drug maker said it expected the rise in the dollar’s value to decrease revenue by 3 percent and decrease earnings per share by 6 percent.