Associated Press
WHITEHOUSE STATION, N.J. -- Pharmaceuticals giant Merck &; Co. reported a 7 percent jump in second-quarter net income as increased sales offset higher spending on marketing and research.
The maker of arthritis drug Vioxx and the cholesterol drug Zocor reported net income of $1.87 billion, or 83 cents per share. A year ago, Merck posted net income of $1.75 billion, or 77 cents per share.
Analysts polled by Thomson First Call expected 84 cents per share.
Total revenues increased 4 percent, to $13.3 billion from $12.8 billion a year earlier.
