Merck Says No Developments in Justice Department Probe

The company clarifies a disclosure in its 10-Q.

Author:: Adam Feuerstein
Publish date:: Nov 13, 2002 4:36 PM EST

Updated from 4:01 p.m. EST

A Justice Department investigation into

Merck & Co.'s

(MRK) - Get Report

marketing and selling activities continues, but there's no new developments in the case, the drugmaker said.

Merck disclosed in its 10-Q filed with the

Securities and Exchange Commission

that the probe was ongoing, and said it was working with the government to respond to requests for information. A spokesman subsequently said the investigation was the same one the company reported in March.

The clarification came after the market closed and Merck's shares ended down 3.7% to $52.80.

Tuesday,

Schering-Plough

(SGP)

disclosed in its 10-Q filing that it received two subpoenas from the U.S. Attorney in Boston related to a previously disclosed investigation into sales and marketing activities of several drugs.

Schering-Plough ended down 4% to $20.66.