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Merck third-quarter profit beats forecast

Tags: Merck & Co

Merck & Co's (MRK-N) quarterly profit and sales beat forecasts as strong demand for the company's diabetes and asthma drugs offset a sharp decline for its Remicade arthritis drug.

The U.S. drugmaker said on Friday it earned $1.69 billion US, or 55 cents per share, in the third quarter. That compared with $342 million, or 11 cents per share, in the year-ago period, when the company took several big charges.

Excluding special items, Merck earned 94 cents per share. Analysts on average expected 91 cents per share, according to Thomson Reuters I/B/E/S.

Global revenue rose 8 percent to $12.02 billion, topping Wall Street expectations of $11.61 billion. CTV Two CTV News CTV News Channel BNN - Business News Network CP24