News Summary: Charges help cut Merck Q4 profit

Published on NewsOK Modified: February 1, 2013 at 4:46 pm •  Published: February 1, 2013
Advertisement
;

PROFIT DROP: Lower sales due to generic competition and one-time charges cut Merck & Co.'s fourth-quarter profit by 7 percent, to $1.4 billion, or 46 cents per share. Sales were down 5 percent, at $11.74 billion.

UNEXPECTED DELAY: Merck said it's reviewing safety and efficacy data from a crucial late-stage patient test of its experimental osteoporosis drug. It will hold off from applying for approval of the drug, odanacatib, until 2014. It had originally planned file in the first half of this year.

FINANCIAL FORECAST: Merck expects 2013 earnings per share of $3.60 to $3.70, excluding charges, and revenue around $47 billion.



Trending Now


AROUND THE WEB

  1. 1
    Four-Time Deportee Arrested For Allegedly Molesting Young Girl In Texas
  2. 2
    Islamic State leader Abu Bakr al-Baghdadi formerly a U.S. captive - Washington Times
  3. 3
    9-year-old girl dies from brain-eating amoeba after swimming
  4. 4
    Did Pope Francis really tell a 90-year-old atheist journalist that 1 in 50 priests are pedophiles?
  5. 5
    Facebook and Twitter won the World Cup Final
+ show more