Merck Cuts Profit Forecast While Boosting Buyback by $15 Billion

Merck Cuts Profit Forecast While Boosting Buyback by $15 Billion

Emile Wamsteker/Bloomberg

Merck has been eliminating thousands of jobs and trying to boost demand of existing products to overcome the revenue drop from its once-leading drug Singulair, an asthma medication that began facing competition from cheaper copies in August.