Merck profits drop less than analysts’ expectations after job cuts savings
Second-quarter net income fell 12% to $1.59 billion (€2bn), or 74 cents a share, New Jersey-based Merck said. Excluding items, the company said it earned 83 cents a share, exceeding the 77-cent estimate of 12 analysts surveyed by Bloomberg.
Revenue dropped 2% to $5.9bn, the company said. Chief executive Richard T Clark aims to reverse the sales decline partly by spending about $44bn to buy Schering-Plough for its experimental treatments.
