A strong 2Q for Merck, outlook mixed

A strong 2Q for Merck, outlook mixed


Sustained cost cuts helped push second-quarter profit at Merck up 61 percent, easily topping Wall Street expectations, as growing sales of new cancer and hepatitis C medicines offset growing competition that older drugs face from generics. Still, Merck trimmed its profit expectations for the year, citing the cost of a major new cancer drug partnership with AstraZeneca and a cyberattack last month.



from Biotech News