Merck ups FY earnings view; Q2 beats estimates

29 July 2015

US pharma giant Merck & Co (NYSE: MRK) on Tuesday raised its outlook for full-year profit while posting a second-quarter earnings ahead of estimates despite a drop in sales.

The company reported second-quarter earnings down over 65% at $687 million, or $0.24 a share, against $2 billion, or $0.68 a share a year earlier. Overall, sales dropped 11% to $9.79 billion.

The drugmaker raised its full-year adjusted earnings target to $3.45 to $3.55 a share, from $3.35 to $3.48 a share.

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