UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 11-K

FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS AND SIMILAR PLANS
Pursuant to Section 15(d) of the Securities Exchange Act of 1934

(Mark One)

þ		ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2008

OR

o		TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

MERCK PUERTO RICO EMPLOYEE SAVINGS AND SECURITY PLAN

(Full title of the plan)

MERCK & CO., INC.

(Name of issuer of the securities held pursuant to the plan)

One Merck Drive
P.O. Box 100
Whitehouse Station, New Jersey 08889-0100

(Address of principal executive office)

 

 

Merck Puerto Rico Employee Savings and Security Plan
Index to Financial Statements and Supplemental Schedule

		Page
Report of Independent Registered Public Accounting Firm			1
Financial Statements:
Statements of Net Assets Available for Benefits as of December 31, 2008 and 2007			2
Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2008			3
Notes to Financial Statements			4-9
Supplemental Schedule*:
H — Line 4i — Schedule of Assets (Held at End of Year)			10-19
Signature			20
Exhibit Index			21
Exhibit 23 — Consent of Independent Registered Public Accounting Firm			22
EX-23

Report of Independent Registered Public Accounting Firm

To the Participants and Administrator of the
Merck Puerto Rico Employee Savings and Security Plan

In our opinion, the accompanying statements of net assets available for benefits and the related statement of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of the Merck Puerto Rico Employee Savings and Security Plan (the “Plan”) at December 31, 2008 and 2007, and the changes in net assets available for benefits for the year ended December 31, 2008 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental Schedule of Assets (Held at End of Year) as of December 31, 2008 is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.

/s/ PricewaterhouseCoopers LLP

San Juan, Puerto Rico
June 24, 2009

Merck Puerto Rico Employee Savings and Security Plan

		December 31,
		2008				2007
Assets
Investments
Investments, at fair value		$	30,687,505			$	48,195,085
Participant loans			2,037,119				1,953,190
Total investments			32,724,624				50,148,275
Receivables
Employer contribution			77,405				7,031
Participant contributions			253,721				26,485
Other receivables			27,531				8,436
Accrued interest and dividends			187,894				175,239
Total receivables			546,551				217,191
Cash and cash equivalents			38,498				36,152
Total assets		$	33,309,673			$	50,401,618
Liabilities
Other payables			33,939				12,803
Net assets available for benefits		$	33,275,734			$	50,388,815

The accompanying notes are an integral part of these financial statements.

Merck Puerto Rico Employee Savings and Security Plan

		Year Ended
		December 31,
		2008
Additions to net assets attributed to
Investment income (loss)
Net depreciation in market value of investments		$	(20,488,028	)
Dividends and interest			1,600,787
Net investment loss			(18,887,241	)
Contributions to the Plan
By participants			4,316,252
By employer			1,245,728
Total contributions			5,561,980
Transfers in			—
Total additions			(13,325,261	)
Deductions from net assets attributed to
Benefits paid to participants			(3,786,841	)
Transfers out			(979	)
Total deductions			(3,787,820	)
Net decrease			(17,113,081	)
Net assets available for benefits
Beginning of year			50,388,815
End of year		$	33,275,734

The accompanying notes are an integral part of these financial statements.

Merck Puerto Rico Employee Savings and Security Plan

1.		Description of the Plan
		The following description of the Merck Puerto Rico Employee Savings and Security Plan (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.
		General
		The Plan is a profit sharing plan designed to provide an opportunity for employees of Merck Sharp & Dohme Quimica de Puerto Rico, Ltd., Merck Sharp & Dohme de Puerto Rico Inc., Merck Puerto Rico Holdings Inc. and Merck Sharp & Dohme (IA) Corp. Puerto Rico Branch (the “Companies”) to become stockholders of Merck & Co., Inc. (“Merck”) and to encourage them to save on a regular basis by setting aside part of their earnings. Regular full-time and part-time employees of the Companies, as defined in the Plan document, who have completed at least one year of employment and are not covered by a collective bargaining agreement, are eligible to enroll in the Plan.
		Participants direct the investment of their contributions into any mutual fund investment option as well as Merck common stock. During 2008, the Plan offered 17 registered investment companies (mutual funds), a common/collective trust, and two separately managed accounts.
		The Plan is administered in part by the Employee Benefits Committee appointed by the President of the Companies and in part by management committees appointed by the Compensation and Benefits Committee of the Board of Directors of Merck. All costs of administering the Plan are borne by the Companies.
		The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”).
		Contributions
		Participants may contribute from 2% up to 15% of their base pay, provided that pre-tax contributions shall not exceed 10% of base compensation or $8,000. In addition, the Companies match 50% of pre-tax and after-tax contributions up to 5% of each participant’s base compensation applicable to the pay period in which the contribution is being made. Company matching contributions are invested according to a participant’s elections.
		Participant Accounts
		Each participant’s account is credited with the participant’s contribution, the Companies’ matching contribution, and an allocation of Plan earnings. The allocation is based on participants’ account balances, as defined in the Plan document.
		Vesting
		Participants are immediately vested in their contributions, all Companies’ matching contributions, plus actual earnings thereon.

Merck Puerto Rico Employee Savings and Security Plan
Notes to Financial Statements
December 31, 2008 and 2007

		Participant Loans
		Participants may borrow from their account balances with interest charged at prime rate plus 1%. Loan terms range from one to five years or up to thirty years for the purchase of a primary residence.
		The minimum loan is $500 and the maximum loan is the lesser of (i) $50,000 less the highest outstanding loan balance during the one year period prior to the new loan application date, or (ii) 50% of the participant’s account balance less any current outstanding loan balance.
		Payment of Benefits
		Participants are entitled to receive automatic, voluntary, in-service (which include hardship withdrawals), or mandatory distributions as provided in the applicable Plan provisions.
2.		Summary of Significant Accounting Policies
		Basis of Accounting
		The financial statements are prepared on the accrual basis of accounting. Certain amounts in the prior year financial statements have been reclassified to conform to the current presentation.
		Use of Estimates
		The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein and disclosure of contingent assets and liabilities at the date of the financial statements. Management believes that these estimates are adequate. Actual results could differ from those estimates.
		Investment Valuation and Income Recognition
		All investments are recorded at fair value in the accompanying financial statements. In September 2006, the Financial Accounting Standards Board (“FASB”) issued Statement No. 157, Fair Value Measurements (“FAS 157”). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair value, and expands the disclosures on fair value measurements. The Plan’s adoption of FAS 157, which was effective on January 1, 2008, did not have a material impact on the Plan’s Statement of Net Assets Available for Benefits or Statement of Changes in Net Assets Available for Benefits. For information related to the Plan’s valuation methodologies under FAS 157, see Note 3 of the financial statements.
		Purchases and sales of securities are recorded on a trade-date basis. Other receivables consist of proceeds receivable for investment securities sold with a settlement date after year end, in a separately managed account. Other payables represent amounts due for investment securities purchased with a settlement date after year end and accrued management expenses, in a separately managed account. Dividend income is recorded on the ex-dividend date. Interest income is recorded as earned.

Merck Puerto Rico Employee Savings and Security Plan
Notes to Financial Statements
December 31, 2008 and 2007

		Contributions
		Employee and Companies matching contributions are recorded in the period in which the Companies make the payroll deductions from the participants’ earnings.
		Payment of Benefits
		Benefits are recorded when paid.
		Transfer of Assets to/from Other Plans
		Companies’ employees or retirees may elect to transfer their savings to other plans qualified by the Puerto Rico Treasury Department (the “PRTD”) or by the U.S. Internal Revenue Service (the “IRS”). Newly hired employees are allowed to transfer their savings from former employer plans to the Plan.
		Risks and Uncertainties
		The Plan provides for various investment options in investment securities. Investment securities, in general, are exposed to various risks, such as interest rate, credit and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the Statement of Net Assets Available for Benefits.
3.		Fair Value Measurements
		On January 1, 2008, the Company adopted FAS 157. In October 2008, the FASB issued FSP 157-3, which clarifies the application of FAS 157 in a market that is not active. FAS 157 defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. FAS 157 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. FAS 157 describes three levels of inputs that may be used to measure fair value:
		Level 1 – Quoted prices in active markets for identical assets or liabilities. The Plan’s Level 1 assets primarily include registered investment companies (mutual funds) and common stocks.
		Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. The Plan’s Level 2 assets primarily include investments in common/collective trusts.
		Level 3 – Unobservable inputs that are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation. The Plan’s Level 3 assets include participant loans.

Merck Puerto Rico Employee Savings and Security Plan
Notes to Financial Statements
December 31, 2008 and 2007

If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.

Within the Plan, investments are recorded at fair value, as follows:

Registered Investment Companies (Mutual Funds)

Registered investment companies (mutual funds) are valued at their respective net asset values. The net asset values are typically determined by the fund at the close of regular trading on the New York Stock Exchange.

Common/Collective Trusts

The common/collective trusts are valued at their respective net asset values. The fair value of investments in the common/collective trusts are determined by their trustee.

Common Stocks

Common stocks, for which market quotations are readily available, are generally valued at the last reported sale price on their principal exchange on valuation date, or official close price for certain markets. If no sales are reported for that day, investments are valued at the more recent of (i) the last published sale price or (ii) the mean between the last reported bid and asked prices for long positions, or at fair value as determined in good faith by the trustee and the Company.

Participant Loans

Participant loans are valued at amortized cost, which approximates fair value.

Investments Measured at Fair Value

Investments measured at fair value are summarized below:

										Year Ended December 31,												Year Ended December 31,
						2008																2007
						Fair Value Measurements Using
						Quoted Prices				Significant
						In Active				Other				Significant
						Markets for				Observable				Unobservable
		Carrying				Identical Assets				Inputs				Inputs								Carrying				Fair
		Value				(Level 1)				(Level 2)				(Level 3)				Total				Value				Value
Assets
Investments
Registered investment companies		$	13,630,769			$	13,630,769			$	—			$	—			$	13,630,769			$	18,136,540			$	18,136,540
(mutual funds)
Common/collective trusts			1,451,698				—				1,451,698				—				1,451,698				2,239,995				2,239,995
Merck common stock			15,041,650				15,041,650				—				—				15,041,650				26,795,182				26,795,182
Other common stocks			563,388				563,388				—				—				563,388				1,023,368				1,023,368
Total investments		$	30,687,505			$	29,235,807			$	1,451,698			$	—			$	30,687,505			$	48,195,085			$	48,195,085
Participant loans		$	2,037,119			$	—			$	—			$	2,037,119			$	2,037,119			$	1,953,190			$	1,953,190

Merck Puerto Rico Employee Savings and Security Plan
Notes to Financial Statements
December 31, 2008 and 2007

Level 3 Valuation Techniques:

Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. Level 3 financial assets also include certain investment securities for which there is limited market activity such that the determination of fair value requires significant judgment or estimation. The Plan’s Level 3 investment securities at December 31, 2008 include participant loans. These securities were valued at amortized cost, which approximates fair value.

The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets measured at fair value using significant unobservable inputs (Level 3):

		Year Ended December 31, 2008
						Net				Loan withdrawals,
		Beginning				Transfers				Principal repayments,				Ending
		Balance				In to (Out of)				Interest,				Balance
		January 1				Level 3 (1)				Net				December 31
Participant loans		$	1,953,190			$	—			$	83,929			$	2,037,119
Total		$	1,953,190			$	—			$	83,929			$	2,037,119

(1)		Transfers in and out of Level 3 are deemed to occur at the beginning of the quarter in which the transaction takes place.

4.		Investments
		The following presents investments that represent 5% or more of the Plan’s net assets as of year-end:

		December 31,
		2008				2007
Merck common stock		$	15,041,650			$	26,795,182
Fidelity Institutional Money Market Portfolio			3,346,700				3,263,321
Columbia Acorn Fund, Class Z			1,908,346				2,806,232
American Funds EuroPacific Growth Fund, Class A			1,705,870				2,731,718
T. Rowe Price Blue Chip Growth Fund			1,575,019				2,795,281
		$	23,577,585			$	38,391,734

Merck Puerto Rico Employee Savings and Security Plan
Notes to Financial Statements
December 31, 2008 and 2007

During 2008, the Plan’s investments (including gains and losses on investments bought and sold, as well as held during the year) depreciated in value by $20,488,028 as follows:

		2008
Registered investment companies (mutual funds)		$	(6,326,621	)
Common/collective trusts			(839,124	)
Merck common stock			(12,930,783	)
Other common stocks			(391,500	)
		$	(20,488,028	)

5.		Related Party Transactions
		Certain Plan investments are shares of registered investment companies (mutual funds) managed by Fidelity Management Trust Company (“Fidelity”). Fidelity is the record keeper as defined by the Plan and, therefore, these transactions qualify as party-in-interest transactions. The total market value of investments in the registered investment companies (mutual funds) managed by Fidelity was $7,018,258 and $8,846,606 at December 31, 2008, and December 31, 2007, respectively.
		Merck also is a party-in-interest to the Plan under the definition provided in Section 3(14) of ERISA. Therefore, Plan transactions of Merck common stock qualify as party-in-interest transactions. The total market value of investments in the Merck common stock was $15,041,650 and $26,795,182 at December 31, 2008, and December 31, 2007, respectively.
6.		Plan Termination
		Although they have not expressed any intent to do so, the Companies have the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. Upon termination of the Plan, each participant thereby affected would receive the entire value of his or her account as though he or she had retired as of the date of such termination.
7.		Tax Status
		The Plan obtained a tax determination letter from the PRTD dated February 18, 1998, indicating that it had been designed in accordance with applicable sections of the Puerto Rico Internal Revenue Code of 1994 (“PRIRC”) and is, therefore, exempt from Puerto Rico income taxes. On August 20, 2003, the Plan obtained a tax determination letter from the Internal Revenue Service indicating it has been designed in accordance with applicable sections of the Internal Revenue Code (“IRC”). However, the Plan has been amended since the receipt of the determination letter. The Plan sponsor and legal counsel believe that the Plan is designed and currently operates in compliance with the PRIRC and IRC. Therefore, no provision for income taxes has been made.

Supplemental Schedule
Schedule H

Identity of Issuer, Borrower,

Share

Current

Lessor or Similar Party

Description of Investment

Balance

Cost

Value

*

Merck & Co., Inc.

Merck Common Stock

499,157.000

**

$

15,041,650

TBS INTERNATIONAL LTD

Other Common Stock

69.010

**

692

GENCO SHIPPING & TRADING LTD

Other Common Stock

0.695

**

10

SHIP FINANCE INTL LTD (NY)

Other Common Stock

1.887

**

78

AIRCASTLE LTD

Other Common Stock

327.652

**

1,599

ABM INDUSTRIES INC

Other Common Stock

27.260

**

519

ACTEL CORP

Other Common Stock

170.668

**

2,000

ACUITY BRANDS INC

Other Common Stock

18.708

**

653

AIR T INC

Other Common Stock

0.342

**

2

ALBANY INTERNATIONAL CORP CL A

Other Common Stock

197.767

**

2,555

ALBANY MOLECULAR RESEARCH INC

Other Common Stock

168.370

**

1,640

ALEXION PHARMACEUTICALS INC

Other Common Stock

151.265

**

5,474

ALLIED HEALTHCARE PRODUCT INC

Other Common Stock

32.028

**

93

AMCON DISTRIBUTING CO

Other Common Stock

3.742

**

62

AMERICAN BILTRITE INC

Other Common Stock

21.968

**

40

AMERICAN GREETINGS CORP CL A

Other Common Stock

160.646

**

1,235

AMERICAN ORIENT BIOENGINE INC

Other Common Stock

382.626

**

2,598

AMERIGROUP CORP

Other Common Stock

352.240

**

10,363

AMTRUST FINANCIAL SERVICES INC

Other Common Stock

95.853

**

1,117

ANDERSONS INC

Other Common Stock

33.690

**

558

ANIKA THERAPEUTICS INC

Other Common Stock

49.388

**

150

ANN TAYLOR STORES CORP

Other Common Stock

2.063

**

12

ARIBA INC

Other Common Stock

388.656

**

2,802

ARK RESTAURANTS CORP

Other Common Stock

18.515

**

212

ARTESIAN RES CORP CL A

Other Common Stock

41.007

**

649

ASTORIA FINANCIAL CORP

Other Common Stock

58.796

**

969

Subtotal

$

15,077,733

Supplemental Schedule
Schedule H
(Continued)

Merck Puerto Rico Employee Savings and Security Plan
Schedule of Assets (Held at End of Year) at December 31, 2008
(Schedule H, Part IV, Line 4i on Form 5500)

Identity of Issuer, Borrower,

Share

Current

Lessor or Similar Party

Description of Investment

Balance

Cost

Value

ASTRO MED INC

Other Common Stock

36.721

**

$

225

ATLANTIC TELE-NETWORK INC

Other Common Stock

1.416

**

38

ATLAS AMERICA INC

Other Common Stock

226.096

**

3,358

AUTONATION INC

Other Common Stock

28.810

**

285

AVOCENT CORP

Other Common Stock

232.077

**

4,157

BAKER MICHAEL CORP

Other Common Stock

47.037

**

1,736

BANK HAWAII CORP

Other Common Stock

24.587

**

1,111

BANK MUTUAL CORP

Other Common Stock

11.150

**

129

BANNER CORP

Other Common Stock

89.140

**

843

BARNES & NOBLE

Other Common Stock

200.264

**

3,004

BEACON ROOFING SUPPLY INC

Other Common Stock

105.832

**

1,469

BERKSHIRE HILLS BANCORP INC

Other Common Stock

5.046

**

156

BIG 5 SPORTING GOODS CORP

Other Common Stock

87.429

**

456

BIOANALYTICAL SYSTEMS INC

Other Common Stock

11.064

**

14

BLACK BOX CORPORATION

Other Common Stock

141.324

**

3,700

BLACK HILLS CORP

Other Common Stock

247.476

**

6,672

BLYTH INC

Other Common Stock

26.939

**

211

BOB EVANS FARMS INC

Other Common Stock

204.716

**

4,182

BOSTON BEER COMPANY CL A

Other Common Stock

56.658

**

1,609

BRITTON & KOONTZ CAPITAL CORP

Other Common Stock

2.138

**

25

CBL & ASSOCIATES PPTYS INC

Other Common Stock

336.739

**

2,313

CDI CORP

Other Common Stock

18.996

**

246

CEC ENTERTAINMENT INC

Other Common Stock

133.092

**

3,227

CFS BANCORP INC

Other Common Stock

18.649

**

73

CSG SYSTEMS INTL INC

Other Common Stock

9.621

**

168

CSP INC

Other Common Stock

2.004

**

6

C T S CORP

Other Common Stock

8.942

**

57

CACI INTERNATIONAL INC CL A

Other Common Stock

22.449

**

1,012

CAL-MAINE FOODS INC

Other Common Stock

83.223

**

2,388

CALLON PETROLEUM CO

Other Common Stock

1.732

**

5

CAMBREX CORP

Other Common Stock

9.167

**

42

CARDIAC SCIENCE CORP

Other Common Stock

140.041

**

1,050

CARVER BANCORP INC

Other Common Stock

16.623

**

83

CASELLA WASTE SYS INC CL A

Other Common Stock

49.549

**

202

CASEY GENERAL STORES

Other Common Stock

2.640

**

60

CEDAR SHOPPING CTRS INC REIT

Other Common Stock

281.150

**

1,991

CELERA CORP

Other Common Stock

338.925

**

3,772

CENTRAL BANCORP INC MASS

Other Common Stock

0.102

**

1

CENTRAL VA BANKSHARES INC

Other Common Stock

0.171

**

1

CENTRUE FINANCIAL CORP

Other Common Stock

28.051

**

173

Subtotal

$

50,248

Supplemental Schedule
Schedule H
(Continued)

Merck Puerto Rico Employee Savings and Security Plan
Schedule of Assets (Held at End of Year) at December 31, 2008
(Schedule H, Part IV, Line 4i on Form 5500)

Identity of Issuer, Borrower,

Share

Current

Lessor or Similar Party

Description of Investment

Balance

Cost

Value

CENTURY BANCORP INC CL A NVTG

Other Common Stock

0.572

**

$

9

CHATTEM INC

Other Common Stock

81.678

**

5,842

CHILDRENS PL RETAIL STORES INC

Other Common Stock

151.265

**

3,279

CHIQUITA BRANDS INTL INC

Other Common Stock

24.047

**

354

CIBER INC

Other Common Stock

363.684

**

1,749

CINEMARK HOLDINGS INC

Other Common Stock

196.591

**

1,461

CIRRUS LOGIC INC

Other Common Stock

431.507

**

1,156

COHERENT INC

Other Common Stock

176.857

**

3,795

COINSTAR INC

Other Common Stock

200.974

**

3,921

COMMERCE BANCSHARES INC

Other Common Stock

30.307

**

1,332

COMMUNITY FINL CORP VA

Other Common Stock

0.845

**

3

COMPUTER TASK GROUP INC

Other Common Stock

100.594

**

324

BANCO LATINO AMERICANO EX CL E

Other Common Stock

177.616

**

2,551

CONMED CORP

Other Common Stock

195.629

**

4,683

CONNS INC

Other Common Stock

9.803

**

83

CONSOLIDATED COMM HLDGS INC

Other Common Stock

143.584

**

1,706

ASPEN INSURANCE HLDGS LTD

Other Common Stock

334.409

**

8,109

CRACKER BARREL OLD CTRY ST INC

Other Common Stock

142.970

**

2,944

CROSS (A.T.) & CO CL A

Other Common Stock

7.184

**

20

CULLEN FROST BANKERS INC

Other Common Stock

25.122

**

1,273

CULP INC

Other Common Stock

61.500

**

122

CYNOSURE INC CL A

Other Common Stock

7.162

**

65

D & E COMMUNICATIONS INC

Other Common Stock

80.924

**

542

DATASCOPE CORP

Other Common Stock

29.125

**

1,522

DELTA APPAREL INC

Other Common Stock

30.568

**

112

DELTA NATURAL GAS CO. INC.

Other Common Stock

19.777

**

480

DELUXE CORP

Other Common Stock

366.388

**

5,481

ARGO GROUP INTL

Other Common Stock

204.716

**

6,944

DIAMOND FOODS INC

Other Common Stock

1.037

**

21

DIAMONDROCK HOSPITALITY CO

Other Common Stock

0.481

**

2

DUCKWALL-ALTO STORES INC

Other Common Stock

15.944

**

153

ORTHOFIX INTL NV (NASDQ)

Other Common Stock

111.578

**

1,710

DYNACQ HEALTHCARE INC

Other Common Stock

1.128

**

5

DYNAMICS RESEARCH CORP

Other Common Stock

36.881

**

295

EV3 INC

Other Common Stock

68.951

**

421

EARTHLINK INC

Other Common Stock

740.436

**

5,005

ECOLOGY & ENVIRONMENT INC CL A

Other Common Stock

25.122

**

301

EDUCATIONAL DEVELOPMENT CORP

Other Common Stock

10.305

**

38

EL PASO ELECTRIC CO

Other Common Stock

297.041

**

5,373

ELECTRONICS FOR IMAGING INC

Other Common Stock

27.527

**

263

Subtotal

$

73,451

Supplemental Schedule
Schedule H
(Continued)

Merck Puerto Rico Employee Savings and Security Plan
Schedule of Assets (Held at End of Year) at December 31, 2008
(Schedule H, Part IV, Line 4i on Form 5500)

Identity of Issuer, Borrower,

Share

Current

Lessor or Similar Party

Description of Investment

Balance

Cost

Value

ELIZABETH ARDEN INC

Other Common Stock

175.318

**

$

2,211

EMULEX CORP

Other Common Stock

591.656

**

4,130

ENERGY PARTNERS LTD

Other Common Stock

1.732

**

2

ENPRO INDUSTRIES INC

Other Common Stock

137.229

**

2,956

ESTERLINE TECHNOLOGIES CORP

Other Common Stock

51.093

**

1,936

EXIDE TECHNOLOGIES

Other Common Stock

498.160

**

2,635

FEI COMPANY

Other Common Stock

204.716

**

3,861

FNB UNITED CORP

Other Common Stock

35.400

**

115

FACET BIOTECH CORP

Other Common Stock

151.116

**

1,449

FAIR ISSAC CORP

Other Common Stock

248.278

**

4,186

FAIRCHILD SEMICON INTL INC

Other Common Stock

0.647

**

3

FEDERAL SIGNAL CORP

Other Common Stock

309.479

**

2,559

FERRO CORP

Other Common Stock

270.188

**

1,905

FIRST BANCORP NC

Other Common Stock

16.570

**

307

FIRST CALIFORNIA FINL GRP INC

Other Common Stock

65.744

**

363

FIRST CITIZEN BANCSHARES INC.

Other Common Stock

34.208

**

5,236

FIRST DEFIANCE FINL CORP

Other Common Stock

43.188

**

334

FIRST FED BANCSHRS OF ARKANSAS

Other Common Stock

14.432

**

106

FIRST FINANCIAL HOLDINGS INC

Other Common Stock

60.934

**

1,233

FIRST KEYSTONE FINANCL

Other Common Stock

0.171

**

1

FIRST MIDWEST BANCORP INC DEL

Other Common Stock

13.897

**

281

FIRST NIAGARA FINL GROUP INC

Other Common Stock

135.230

**

2,187

FIRST UNITED CORP

Other Common Stock

5.051

**

68

FISHER COMMUNICATIONS INC

Other Common Stock

41.985

**

867

FIRSTMERIT CORP

Other Common Stock

66.279

**

1,365

FORCE PROTECTION INC

Other Common Stock

317.983

**

1,902

FREDS INC CL A

Other Common Stock

86.590

**

932

GS FINANCIAL CORP

Other Common Stock

0.535

**

6

GSI COMMERCE INC

Other Common Stock

157.679

**

1,659

GENESEE & WYOMING INC CL A

Other Common Stock

79.641

**

2,429

GRIFFON CORP

Other Common Stock

169.973

**

1,586

GYMBOREE CORP

Other Common Stock

188.681

**

4,923

HF FINL CORP

Other Common Stock

20.846

**

267

HKN INC

Other Common Stock

0.283

**

1

HQ SUSTAINABLE MARITIME INDS

Other Common Stock

37.768

**

296

HAIN CELESTIAL GROUP INC

Other Common Stock

23.518

**

449

HANCOCK HOLDING CO

Other Common Stock

45.968

**

2,090

HARLEYSVILLE SAVINGS FIN CORP

Other Common Stock

6.863

**

92

HASTINGS ENTERTAINMENT INC

Other Common Stock

0.342

**

1

HAVERTY FURNITURE COS INC

Other Common Stock

91.133

**

850

Subtotal

$

57,778

Supplemental Schedule
Schedule H
(Continued)

Merck Puerto Rico Employee Savings and Security Plan
Schedule of Assets (Held at End of Year) at December 31, 2008
(Schedule H, Part IV, Line 4i on Form 5500)

Identity of Issuer, Borrower,

Share

Current

Lessor or Similar Party

Description of Investment

Balance

Cost

Value

HAWK CORP CL A

Other Common Stock

24.849

**

$

412

HICKORY TECH CO

Other Common Stock

0.326

**

2

HOPFED BANCORP INC

Other Common Stock

12.556

**

140

HORNBECK OFFSHORE SERVICES INC

Other Common Stock

119.729

**

1,956

HUDSON HIGHLAND GROUP INC

Other Common Stock

0.823

**

3

HURCO INC

Other Common Stock

48.020

**

576

IAC/INTERACTIVECORP

Other Common Stock

500.298

**

7,870

ICT GROUP INC

Other Common Stock

44.236

**

203

IBERIABANK CORP

Other Common Stock

0.882

**

54

IDACORP INC

Other Common Stock

243.526

**

7,172

IMATION CORP

Other Common Stock

220.740

**

2,995

INDUSTRIAL SVCS OF AMERICA INC

Other Common Stock

21.915

**

115

INSIGHT ENTERPRISES INC

Other Common Stock

315.359

**

2,176

INNOSPEC INC

Other Common Stock

85.521

**

504

INNOPHOS HOLDINGS INC

Other Common Stock

104.229

**

2,065

INTEGRA LIFESCIENCES HLDS CORP

Other Common Stock

118.687

**

4,222

INTER PARFUMS INC

Other Common Stock

101.022

**

779

INTERNATIONAL BANCSHARES CORP

Other Common Stock

31.536

**

688

INTERNATIONAL SHIPHOLDING CORP

Other Common Stock

42.226

**

1,070

INTERWOVEN INC (DELIST)

Other Common Stock

294.850

**

3,715

INVACARE CORP

Other Common Stock

222.355

**

3,454

INTRICON CORP

Other Common Stock

31.536

**

114

INX INC

Other Common Stock

43.295

**

186

JDA SOFTWARE GRP INC

Other Common Stock

168.311

**

2,210

JO-ANN STORES INC

Other Common Stock

168.209

**

2,606

JOS A BANKS CLOTHIERS INC

Other Common Stock

114.384

**

2,991

KELLY SERVICES INC CL A

Other Common Stock

190.503

**

2,478

KEWAUNEE SCIENTIFIC CORP

Other Common Stock

14.346

**

129

KEYNOTE SYSTEMS INC

Other Common Stock

95.142

**

734

KINDRED HEALTHCARE INC

Other Common Stock

187.719

**

2,444

LANCE INC

Other Common Stock

0.647

**

15

LANDMARK BANCORP INC

Other Common Stock

2.828

**

49

LAWSON SOFTWARE INC NEW

Other Common Stock

856.819

**

4,061

LECG CORP

Other Common Stock

160.742

**

1,079

LECROY CORP

Other Common Stock

68.967

**

210

LIFE TIME FITNESS INC

Other Common Stock

125.075

**

1,620

LIVE NATION INC

Other Common Stock

489.148

**

2,808

LIZ CLAIBORNE INC

Other Common Stock

580.987

**

1,511

M D C HOLDINGS INC

Other Common Stock

18.708

**

567

Subtotal

$

65,981

Supplemental Schedule
Schedule H
(Continued)

Merck Puerto Rico Employee Savings and Security Plan
Schedule of Assets (Held at End of Year) at December 31, 2008
(Schedule H, Part IV, Line 4i on Form 5500)

Identity of Issuer, Borrower,

Share

Current

Lessor or Similar Party

Description of Investment

Balance

Cost

Value

MTS SYSTEMS CORP

Other Common Stock

6.863

**

$

184

MARTEK BIOSCIENCES

Other Common Stock

221.286

**

6,707

MAXYGEN INC

Other Common Stock

177.456

**

1,583

MAXIMUS INC

Other Common Stock

129.543

**

4,548

MEASUREMENT SPECIALTIES INC

Other Common Stock

107.131

**

745

MEDCATH CORP

Other Common Stock

52.553

**

549

MEDICIS PHARMACEUTICAL CL A

Other Common Stock

262.977

**

3,664

MEDIFAST INC

Other Common Stock

77.503

**

429

MENTOR GRAPHICS CORP

Other Common Stock

557.490

**

2,882

MERCANTILE BANK CORP

Other Common Stock

48.640

**

209

MERCURY COMPUTER SYS INC

Other Common Stock

19.216

**

121

MINERALS TECHNOLOGIES INC

Other Common Stock

124.492

**

5,092

MONARCH CMNTY BANCORP INC

Other Common Stock

12.294

**

43

MONRO MUFFLER BRAKE INC

Other Common Stock

112.246

**

2,862

MOTORCAR PARTS OF AMERICA INC

Other Common Stock

71.624

**

279

MUTUALFIRST FINANCIAL INC

Other Common Stock

21.963

**

148

NB & T FINANCIAL GROUP INC

Other Common Stock

0.855

**

13

NASH-FINCH CO

Other Common Stock

80.176

**

3,599

NASHUA CORP

Other Common Stock

33.139

**

174

NATIONAL DENTEX CORP

Other Common Stock

0.326

**

1

NATIONAL PENN BANCSHARES INC

Other Common Stock

160.886

**

2,334

NATIONAL PRESTO INDS

Other Common Stock

0.518

**

40

NATIONAL SECURITY GROUP INC

Other Common Stock

0.695

**

4

NATIONAL TECHNICAL SYSTEMS

Other Common Stock

14.923

**

56

NATIONAL WESTERN LIFE INC CL A

Other Common Stock

4.265

**

722

NATURAL ALTERNATIVES INTL INC

Other Common Stock

37.629

**

230

NESS TECHNOLOGIES INC

Other Common Stock

281.685

**

1,206

NETFLIX INC

Other Common Stock

256.029

**

7,653

NETSCOUT SYSTEMS INC

Other Common Stock

207.378

**

1,788

NEUROCRINE BIOSCIENCES INC

Other Common Stock

63.467

**

203

NEW HAMPSHIRE THRIFT BANCSHARE

Other Common Stock

32.605

**

250

NEW JERSEY RESOURCES CORP

Other Common Stock

258.701

**

10,260

NEWALLIANCE BANCSHARES INC

Other Common Stock

548.965

**

7,230

NORTHEAST BANCORP

Other Common Stock

9.097

**

66

NORTHWESTERN CORP

Other Common Stock

252.912

**

5,936

NOVEN PHARMACEUTICALS INC

Other Common Stock

43.220

**

475

NU SKIN ENTERPRISES INC CL A

Other Common Stock

292.215

**

3,048

NUTRACEUTICAL INTL CORP

Other Common Stock

65.744

**

506

OI CORPORATION

Other Common Stock

7.964

**

79

OSI PHARMACEUTICALS INC

Other Common Stock

13.897

**

543

Subtotal

$

76,459

Supplemental Schedule
Schedule H
(Continued)

Merck Puerto Rico Employee Savings and Security Plan
Schedule of Assets (Held at End of Year) at December 31, 2008
(Schedule H, Part IV, Line 4i on Form 5500)

Identity of Issuer, Borrower,

Share

Current

Lessor or Similar Party

Description of Investment

Balance

Cost

Value

OSI SYSTEMS INC

Other Common Stock

110.108

**

$

1,525

OCEANFIRST FINANCIAL CORP

Other Common Stock

54.226

**

900

OLIN CORP

Other Common Stock

2.395

**

43

OMEGA PROTEIN CORP

Other Common Stock

94.340

**

378

ONE LIBERTY PROPERTIES INC

Other Common Stock

51.297

**

463

OVERHILL FARMS INC

Other Common Stock

96.746

**

405

PDL BIOPHARMA INC

Other Common Stock

755.584

**

4,670

PMA CAP CORP CL A

Other Common Stock

217.010

**

1,536

PACER INTERNATIONAL INC

Other Common Stock

242.666

**

2,567

PACIFIC PREMIER BANCORP INC

Other Common Stock

0.267

**

1

PAMRAPO BANCORP INC

Other Common Stock

28.863

**

217

PANTRY INC

Other Common Stock

143.178

**

3,071

PAR PHARMACEUTICALS COS INC

Other Common Stock

223.108

**

2,992

PARKVALE FINANCIAL CORP

Other Common Stock

37.415

**

473

PENNICHUCK CORP

Other Common Stock

25.785

**

529

PEOPLES BANCORP OF NC

Other Common Stock

18.767

**

172

PEP BOYS-MANNY MOE & JACK

Other Common Stock

285.651

**

1,180

PEPSIAMERICAS INC

Other Common Stock

74.777

**

1,522

PERCEPTRON INC

Other Common Stock

0.342

**

1

PEROT SYSTEMS CORP CL A

Other Common Stock

524.351

**

7,168

PERVASIVE SOFTWARE INC

Other Common Stock

29.665

**

125

PHYSICIANS FORMULA HOLDING INC

Other Common Stock

62.275

**

174

POLYONE CORP

Other Common Stock

11.406

**

36

PORTLAND GENERAL ELECTRIC CO

Other Common Stock

40.248

**

793

PREMIER FINANCIAL BANCORP

Other Common Stock

34.855

**

260

PREMIERE GLOBAL SVCS INC

Other Common Stock

169.241

**

1,457

PRESIDENTIAL LIFE CORP

Other Common Stock

107.436

**

1,069

PRESTIGE BRANDS HOLDINGS INC

Other Common Stock

0.326

**

3

PROGRESS SOFTWARE CORP

Other Common Stock

298.255

**

5,744

PROSPERITY BANCSHARES INC

Other Common Stock

70.555

**

2,097

QCR HOLDINGS INC

Other Common Stock

26.725

**

269

QAD INC

Other Common Stock

70.469

**

295

Q E P INC

Other Common Stock

20.546

**

58

QUEST SOFTWARE INC

Other Common Stock

458.986

**

5,779

RGC RESOURCES INC

Other Common Stock

2.673

**

68

RAMCO-GERSHENSON PPTYS TR

Other Common Stock

127.961

**

820

REGENERON PHARMACEUTICALS INC

Other Common Stock

45.171

**

829

REGIS CORPORATION

Other Common Stock

286.495

**

4,163

REINSURANCE GROUP OF AMERICA

Other Common Stock

3.843

**

165

Subtotal

$

54,021