“Merck & Co. (MRK), the second-largest U.S. drugmaker, reported first-quarter profit that beat analyst estimates on higher sales of its diabetes treatments.
Net income was $1.74 billion, or 56 cents a share, compared with $1.04 billion, or 34 cents, a year earlier when Merck took a $500 million charge to settle a dispute with Johnson & Johnson (JNJ), the Whitehouse Station, New Jersey-based company said today in a statement. Earnings per share excluding one-time items beat by 1 cent the 98-cent average of 18 analyst estimates compiled by Bloomberg.”
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