drugmaker merck & co., faced with declining profits and lawsuits over its vioxx painkiller, said thursday in a statement carried by deutsche press agentur (dpa) it plans to save an extra 1 billion dollars by 2010 and introduce two new anti-cholesterol drugs. merck is facing 9,200 lawsuits in the united states after it was found that its vioxx painkiller was linked to a higher risk of heart disease and strokes. with the newly planned cost cutting, new jersey-based merck said total savings could reach 5 billion dollars by 2010, up from a previously stated 4 billion dollars. the company also said it would boost productivity by narrowing its focus to nine diseases, including atherosclerosis, diabetes, obesity and pain and sleep disorders. 'we need to change our approach to virtually every aspect of our business, and we must act with a sense of urgency,' chief executive richard t. clark said in a statement. merck already plans to cut 7,000 jobs and close five of its plants after a three-year decline in profits. merck shares rose 1.4 per cent thursday to 29.62 dollars. --spa 14:57 local time 11:57 gmt nnnn
