Appeals court invalidates Merck osteoporosis drug

Another blow for Merck, which is embroiled in lawsuits over the withdrawal of Vioxx and facing the loss of the Zocor patents in mid-2006.

Pharmaceuticals analyst Tim Anderson of Prudential Financial predicted the Fosamax decision will leave Merck with flat earnings in 2008. A once-monthly osteoporosis treatment called Boniva, produced by Switzerland's Roche Group, is due out in several months and is "an underappreciated threat," he added.