Opening Glance: Pharmaceutical stocks mostly fall

NEW YORK—Shares of large pharmaceutical companies opened mostly lower Tuesday, dragged down by Merck & Co.'s failed attempt to gain approval on a cholesterol drug and broader concerns over consumer confidence.

The American Stock Exchange's Pharmaceutical Index fell 2.64 points to 303.82.

Here's how some key drug makers fared Tuesday:

Schering-Plough, up 39 cents to $19.14.

Wyeth, down 60 cents to $44.22.

Merck & Co., down $3.50, or 8.4 percent, to $37.94.

Bristol-Myers Squibb Co., down 16 cents to $22.