Merck quarterly profit falls on deal-related charge

Merck quarterly profit falls on deal-related charge

Drugmaker Merck & Co Inc reported a drop in third-quarter profit on Tuesday, hit by a US$982 million charge related to its acquisition of Peloton Therapeutics.

The Merck logo is seen at a gate to the Merck & Co campus in Linden, New Jersey
FILE PHOTO: The Merck logo is seen at a gate to the Merck & Co campus in Linden, New Jersey, U.S., July 12, 2018. REUTERS/Brendan McDermid

REUTERS: Drugmaker Merck & Co Inc reported a drop in third-quarter profit on Tuesday, hit by a US$982 million charge related to its acquisition of Peloton Therapeutics.

Net income fell to US$1.90 billion, or 74 cents per share, from US$1.95 billion, or 73 cents per share, a year earlier.

Sales rose to US$12.40 billion from US$10.79 billion.

(Reporting by Saumya Sibi Joseph and Manas Mishra in Bengaluru; Editing by Anil D'Silva)

Source: Reuters

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