FiercePharma says: Thanks to cost-cutting initiatives, including laying off a projected 15,000 employees by 2012, Merck earned 85 cents per share this quarter. Its profits were dampened by a $950 million federal Vioxx fine. And despite growing generic competition for Cozaar and Hyzaar, its diabetes drugs Januvia and Janumet boosted sales 28 percent, and HIV drug Isentress rose 41 percent to $278 million. The company believes it will reach $3.31 to $3.39 earnings per share.
Highlights
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Worldwide sales for the third quarter of 2010 were $11.1 billion. Net income(1) for the third quarter was $342 million.
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For the first nine months of 2010, worldwide sales were $33.9 billion and net income was $1.4 billion
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Merck's website: http://www.merck.com/
Full earnings release: Merck earnings release
