10/25/2018, 12:48 PM (Source: TeleTrader)
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Merck&Co reports net income $1.95B in Q3, down 2.8% YoY

American pharmaceutical giant Merck & Co. reported on Thursday its earnings per share for the third quarter of 2018 stood at $0.73, decreasing 2.7% on an annual basis. The company's worldwide sales amounted to $10.8 billion, up 5% compared to the same time period last year and its net income reached a figure of $1.95 billion, marking a 2.8% decrease year over year.

The pharmaceutical company expanded its oncology program and continued the development of KEYTRUDA (pembrolizumab), Merck's anti-PD-1 therapy. The company cooperated with AstraZeneca on a trial testing of Lynparza, a treatment for newly diagnosed patients with mutated ovarian cancer.

"We built on our strong momentum during the quarter and believe that Merck is well-positioned to continue creating sustainable value for shareholders and patients," Merck Chief Executive Officer Kenneth C. Frazier commented. "Our focused execution is driving our operational results, with KEYTRUDA making a difference to cancer patients around the world," he added.

Merck shares were 2.2% in the red during the premarket trading.

Breaking the News / VK