Tags: Merck | Earnings | Profits | Drugs

Merck's Profit More Than Doubles as New Drugs Offset Generics

Tuesday, 29 July 2014 07:52 AM

Merck & Co. reported better-than-expected quarterly results on Tuesday, with sales of newer drugs helping to offset the impact of generic competition on the sales of other drugs.

The No. 2 U.S. drugmaker earned $2.03 billion, or 68 cents per share, in the second quarter. That compared with $906 million, or 30 cents per share, in the year-earlier period, when Merck took charges for acquisitions and restructuring.

Excluding special items, Merck earned 85 cents per share. Analysts, on average, were expecting 81 cents per share, according to Thomson Reuters I/B/E/S.

Global revenue slipped 1 percent to $10.93 billion, but exceeded Wall Street expectations of $10.6 billion.

Merck said it expects full-year earnings of $3.43 to $3.53 per share. In April, it had predicted $3.35 to $3.53.

© 2021 Thomson/Reuters. All rights reserved.

Merck reported earnings that more than doubled in its second quarter, and topped analysts' expectations.
Merck, Earnings, Profits, Drugs
Tuesday, 29 July 2014 07:52 AM
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