Within 2 months FDA will decide whether or not to accept Merck's application for Arcoxia

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http://money.cnn.com/2003/12/30/markets/afterbell/index.htm

December 30, 2003: 6:10 PM EST

NEW YORK (CNN/Money) - Investors poised to see how the markets close out

the year will be eyeing possible action in the shares of a drugmaker, an

oil producer and a tech stock Wednesday.

The Nasdaq managed a small gain in the last minutes of trading Tuesday

while investors chose to take profits on some of the blue chips that

rallied the prior session.

Merck & Co. Inc., Oil Corp., and Viisage Technology Inc. could be

active Wednesday after making news late Tuesday. Merck said after the

closing bell that it had submitted a new arthritis drug, Arcoxia, to the

Food and Drug Administration for review.

Arcoxia, which is already sold in 38 countries around the world, is

Merck's follow-up drug to its Vioxx arthritis medication. The FDA will

determine whether it will accept Merck's application within the next 60

days, the Whitehouse Station, New Jersey, company said.

Merck (MRK: Research, Estimates) shares closed 19 cents, or less than 1

percent, lower to $45.50 on the New York Stock Exchange.....