Merck Profit Beats Analyst Estimates on Drug Sales
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Merck & Co. reported third-quarter profit that beat analyst estimates as sales of its diabetes treatments helped offset losses from generic competition.
Earnings, excluding one-time items, were 95 cents a share, topping by 2 cents the average of 17 analyst estimates compiled by Bloomberg. Net income increased 2 percent to $1.73 billion, or 56 cents a share, from $1.69 billion, or 55 cents, a year earlier, the Whitehouse Station, New Jersey-based company said today in a statement.