April 29 Merck & Co Inc reported
better-than-expected quarterly earnings, helped by cost cuts and
asset sales, but revenue came in slightly below expectations.
The No. 2 U.S. drugmaker said on Tuesday it earned $1.70
billion, or 57 cents per share, in the first quarter, compared
with $1.59 billion, or 52 cents, in the year-earlier period.
Excluding special items, Merck earned 88 cents per share.
The average analyst expected 79 cents, according to Thomson
Merck's global revenue fell 4 percent to $10.26 billion,
hurt by generic competition for its Singulair treatment for
allergy and asthma. Wall Street expected $10.44 billion.
(Reporting by Ransdell Pierson; Editing by Jeffrey Benkoe)