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Merck & Co. received a second blow to its cholesterol-management program sending its stock down $7.72%. FDA issued a not approvable letter for MK-0524A, while earlier this year data was published showing that another Merck cholesterol product, Vytorin, was no more effective than a cheaper generic drug.
Merck opened the day at $38.24. The companys shares have been trading below $42 ever since news o…