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Merck & Wyeth Swap Spots in Investors Eyes

Posted on July 22, 2008

Fortunes in Big Pharma sometimes turn on a dime.Last year, Merck was the darling of the industry, as sales of some new products grew at a healthy clip and the company turned the corner in litigation over Vioxx. Shareholders rewarded Merck handsomely, driving its share price up 33% in 2007, making it the second-best performer in the Dow Jones Industrial Average.Wyeth, meanwhile, couldn t seem to do anything right, at least in the second half of 2007, when it had a string of pipeline disappointments, among other headaches. Its shares fell 13% over the year as its executives tried to do damage ...

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