Merck first-quarter profits up by 4.8%

Merck & Co, the maker of the Zocor cholesterol medicine, said first-quarter profit rose 4.8% as the company cut costs.

Schering-Plough Corp, the maker of Claritin allergy pills, reported a net loss as sales declined.

Profit from continuing operations rose to $1.62 billion, or 73 cents a share, from $1.55 billion, or 68 cents, a year earlier, Whitehouse Station, New Jersey-based Merck said in a statement.