News Summary: Merck 3Q net up 2 pct, beats views

Associated Press Modified: October 26, 2012 at 12:45 pm •  Published: October 26, 2012

REASSURING RESULTS: Drugmaker Merck posted a 2 percent increase in third-quarter profit, at $1.7 billion. That's despite new generic competition slashing sales for top seller Singulair for asthma and allergies. It had generated $5.5 billion a year.

THE STRATEGY: Merck boosted sales significantly for other key products, including diabetes pill Januvia and the Gardasil vaccine. It reduced spending on production, marketing, administration and research, and had a lower tax rate due to one-time benefits.

THE NUMBERS: Adjusted net income was $2.9 billion, or 95 cents per share, 2 cents more than expected. Revenue was down 4 percent at $11.5 billion.


Trending Now


  1. 1
    Barresi opposes bill to cut state testing in social studies
  2. 2
    Oklahoma basketball: Guard Je'lon Hornbeak to transfer
  3. 3
    Man re-arrested in Pakistan for cannibalism
  4. 4
    Report: Joe Buck, Greg Norman to lead Fox Sports' golf coverage in 2015
  5. 5
    Opinion: What if the government guaranteed you an income?
+ show more