Seeking Alpha

adspatz's  Instablog

adspatz
Send Message
Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
My company:
SEC Live
  • Merck Profits Drop 35% 0 comments
    Oct 28, 2013 10:40 AM | about stocks: MRK

    Originally published at www.seclive.com

    Merck & Co. Inc. (NYSE:MRK) announced its fiscal 2013 third quarter results, reporting profits that fell 35% due to increased generic drug competition. Despite the earnings dip, the company outperformed analyst expectations but missed at $11.03B on revenue projections of $11.1B. Januvia, Merck's top-selling drug and Type 2 diabetes medication, saw a 1% dip in sales to $1.4B this quarter. Sales of Singulair, the company's once-a-day asthma medication, fell 53% to $280M. Inflammatory disease medications Remicade and Simponi rose for a combined 22% increase to $700M in sales for the quarter. Merck earnings fell from $1.73B and $0.56 earnings per share from a year ago to $1.12B and $0.38 per share. The company announced earlier in the month that it will lay off 8,500 employees in a move to reduce costs by $2.5B in two years as it focuses on research and development and other opportunities.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: MRK
Back To adspatz's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.