CS First Boston Cuts Merck to Hold from Buy

Analyst Ken Kulju sees gross margin erosion stemming from the loss of patent protection on Prilosec and Prinivil, along with other factors

Shares of Merck & Co. (MRK ) fell after CS First Boston downgraded the drug company to hold from buy. During intraday trading on Tuesday, Merck forecasted 2002 EPS growth to be at same level as in 2001.

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