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Business Description
Merck & Co., Inc. is a global research-driven pharmaceutical products company that discovers, develops, manufactures and markets a range of products to improve human and animal health, directly and through its joint ventures. The Company's products include therapeutic and preventive agents, generally sold by prescription, for the treatment of human disorders and animal health supplies. During 2003, products that contributed to the year's sales growth were Singulair for asthma and seasonal allergic rhinitis, Fosamax for osteoporosis, Cozaar/Hyzaar for high blood pressure, Vioxx and Arcoxia for arthritis and pain, Cancidas for infections, Cosopt for glaucoma, Proscar for benign prostate enlargement, and Maxalt for migraines. Merck & Co. sells its products primarily to drug wholesalers and retailers, hospitals, clinics, government agencies and managed healthcare providers such as health maintenance organizations and other institutions.

Financial Information
For the nine months ended 9/30/04, net sales rose 2% to $17.19 billion. Net income from continuing operations fell 9% to $4.71 billion. Results reflect growth in in-line franchises and a more favorable foreign exchange effect, offset by higher research and development costs.