Merck & Co., Inc. (MRK) Earnings Beat Estimates

Merck & Co., Inc. (MRK) Earnings Beat Estimates

Merck & Co., Inc. (NYSE:MRK) released its first quarter earnings results, earnings of 88 cents per share, excluding items. Sales fell to $10.26 billion, a 4% decline, compared to $10.67 billion last year. Reported earnings per share were 57 cents. Analysts had been expecting non-GAAP earnings of 79 cents per share on sales of $10.44 billion for the quarter.

The drug maker cited negative impacts from patent expirations and a 2% negative impact from foreign exchange rates as reasons for the lower sales.

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Breaking down Merck’s results

The company said pharmaceutical sales fell 5% to $8.5 billion during the quarter. Merck & Co., Inc. (NYSE:MRK) saw increases in sales of the biologic medication Remicade, the TNF blocker Simponi and HIV medication Isentress. The drug maker also noted growth in its diabetes and vaccines franchises. Growth in these medications partially offset negative i