BREAKING NEWS

Merck quarterly profit falls on deal-related charge

Merck quarterly profit falls on deal-related charge
FILE PHOTO: The Merck logo is seen at a gate to the Merck & Co campus in Linden, New Jersey, U.S., July 12, 2018. REUTERS/Brendan McDermid -
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BRENDAN MCDERMID(Reuters)
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(Reuters) – Drugmaker Merck & Co Inc <MRK.N> reported a drop in third-quarter profit on Tuesday, hit by a $982 million charge related to its acquisition of Peloton Therapeutics.

Net income fell to $1.90 billion (£1.48 billion), or 74 cents per share, from $1.95 billion, or 73 cents per share, a year earlier.

Sales rose to $12.40 billion from $10.79 billion.

(Reporting by Saumya Sibi Joseph and Manas Mishra in Bengaluru; Editing by Anil D’Silva)

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