Second-quarter sales up 14% at Merck


22 July 1998


Second-quarter sales up 14% at Merck


THE divestment of Mercks crop protection business, and the formation of a joint venture with Merial last year, affected the companys sales growth in the second quarter and the first half.

Merck, the US pharmaceuticals giant, reported second-quarter net income of $1.31 billion (£798m), up 14%, on sales up 9% to $6.5bn.

The company indicated that full-year earnings per share were likely to be at the lower end of the previously indicated range of $4.27 to $4.39. Analysts were disappointed with the performance and the shares fell 7.2% to $128.5.

  • Financial Times 22/07/98 page 30

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