Merck Profit Jumps 62 Percent on Sales

WHITEHOUSE STATION, N.J. – Merck & Co. posted a 62 percent increase in third-quarter profit Monday, as the drugmaker’s revenues increased by double digits and lower marketing and overhead costs offset more spending on research and development.

The maker of osteoporosis treatment Fosamax and Singulair for asthma and allergies reported net income of $1.53 billion, or 70 cents per share, up from $940.6 million or 63 cents per share a year earlier. Revenues totaled $6.07 billion.

Excluding a charge for an acquisition and a gain from a patent settlement, net income would have been 75 cents per share.

Analysts surveyed by Thomson Financial expected a profit of 69 cents per share, excluding one-time items, on revenue of $6.06 billion.

“Our third-quarter results reflect the continued progress Merck is making to deliver on our strategy,” chief executive officer Richard Clarke said in a statement.

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