Merck weighed own by charges, but drug sales rebound

Merck’s second-quarter profit dove 49%, mainly due to a big charge for an acquisition and a higher tax rate, though sales of its vaccines and medicines used in hospitals rebounded from the effects of the pandemic

Merck’s second-quarter profit dove 49%, mainly due to a big charge for an acquisition and a higher tax rate, though sales of its vaccines and medicines used in hospitals rebounded from the effects of the pandemic. Merck & Co. on Thursday reported second-quarter net income of $1.55 billion. On a per-share basis, the Kenilworth, New Jersey-based company said it had profit of 61 cents. Earnings, adjusted for one-time gains and costs, were $1.31 per share. The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.