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Biotech / Medical : Pharma News Only (pfe,mrk,wla, sgp, ahp, bmy, lly)

PFE 25.51

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11:25 AM EST

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To: Anthony Wong who wrote (933)	10/16/1998 11:35:00 AM
From: Anthony Wong	Read Replies (1) of 1722

Merck Reaffirms 1998 Earnings Estimates at $4.27 to $4.34-Share Bloomberg News October 16, 1998, 10:56 a.m. ET Merck Reaffirms 1998 Earnings Estimates at $4.27 to $4.34-Share Whitehouse Station, New Jersey, Oct. 16 (Bloomberg) -- Merck & Co., the world's largest drugmaker, told analysts it's comfortable with estimates that put its 1998 profit at $4.27 to $4.34 a share, reaffirming the range it indicated in July. Merck fell 15/16 to 132 5/16 in midmorning trading amid concerns that its sales are not growing as quickly as they seem to be, analysts said. The Whitehouse Station, New Jersey-based company confirmed that it gave analysts the estimate range. Merck today said third-quarter net income rose to $1.37 billion, or $1.12 a share, from $1.20 billion, or 97 cents, in the year-earlier period. The results beat the $1.11-a-share average estimate of analysts polled by First Call Corp. Sales rose 15 percent to $6.84 billion from $5.93 billion. The recent quarter may include some items that Merck will not have in the future, analysts said. --Kerry Dooley in the Princeton newsroom (609) 279-4016/esk

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