Merck's 2Q net drops on higher costs, charges

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Merck's 2Q net drops on higher costs, charges (7/30/2010)

Drugmaker Merck & Co. on Friday reported a 52% drop in second-quarter net income, due to big merger and restructuring charges and lower income from partnerships.Merck, the world's second-biggest drug company by revenue, says its net income amounted to $752.4 million, or 24 cents per share. That's down from $1.56 billion, or 74 cents a share, in 2009's second quarter.Excluding a host of one-time items, income would have been $2.71 billion, or 86 cents a share. That beat the forecast of analysts,

Source:	Crains
Full post can be read on:	http://www.crainsny.com/
Homepage:	http://www.crainsny.com/

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