Merck & Co. reported disappointing quarterly sales on Friday and took an almost $1 billion charge related to a previously disclosed U.S. government probe of its recalled Vioxx arthritis drug.

The drugmaker, which completed it $41 billion acquisition of Schering-Plough Corp in November 2009, said third quarter earnings fell 89 percent to $372 million, or 11 cents per share, reflecting charges related to the merger as well as the new $950 million Vioxx legal reserve. The company earned $3.46 billion, or $1.61 per share in the year earlier period. Get the full story »