US pharma giant Merck & Co (NYSE: MRK) today reports that worldwide sales were $10.5 billion for the third quarter of 2016, an increase of 5% compared with the third quarter of 2015, including a 1% negative impact from foreign exchange. This beat the $10.18 billion consensus forecast of analysts. Merck’s shares gained 1.23% to $61.50 in pre-market trading.
GAAP (generally accepted accounting principles) earnings per share (EPS) assuming dilution were $0.78 for the third quarter. Non-GAAP EPS of $1.07 for the third quarter excludes acquisition- and divestiture-related costs and restructuring costs, and was ahead of the $0.99 expectations of analysts polled by Thomson Reuters. GAAP and non-GAAP EPS in the third quarter include an estimated benefit of approximately $0.04 from the timing of shipments in Japan, noted Merck.
Financial outlook
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze