Business

Merck 4Q powered by cancer treatment sales

Posted February 01, 2019 6:00 am

The Associated Press

KENILWORTH, N.J. (AP) - Merck is reporting better than expected profits for the fourth quarter with revenue jumping 4.6 percent.

The drugmaker swung to a fourth-quarter net income of $1.83 billion, or 69 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, were $1.04 per share, a penny better than expected according to a survey by Zacks Investment Research.

Revenue was $11 billion, slightly better than expected.

Merck & Co., based in Kenilworth, New Jersey, expects full-year earnings in the range of $4.57 to $4.72 per share, with revenue in the range of $43.2 billion to $44.7 billion.

Shares are up 2 percent before the opening bell Friday.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRK at https://www.zacks.com/ap/MRK

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