Merck's 3rd-Quarter Net Rises 14%, Fueled by Sales of Zocor
Bloomberg News
October 16, 1998, 7:50 a.m. ET
Merck's 3rd-Quarter Net Rises 14%, Fueled by Sales of Zocor
Whitehouse Station, New Jersey, Oct. 16 (Bloomberg) -- Merck
& Co., the world's largest drugmaker, said third-quarter net
income rose 14 percent as it introduced five new drugs, including
its once-a-day asthma medicine Singulair and Propecia, a pill to
fight baldness.
Net income rose to $1.37 billion, or $1.12 a share, from
$1.20 billion, or 97 cents, a year earlier. Sales rose 15 percent
to $6.84 billion from $5.93 billion.
Merck was expected to earn $1.11 a share, the average
estimate of analysts polled by First Call Corp.
In the third quarter, Merck had $990 million in sales of the
cholesterol reducer Zocor.
--Kerry Dooley in the Princeton newsroom (609) 279-4016 |
