Quartz·1 min read·medium
Merck slashed its profit forecast as acquisition costs piled up, but it beat on revenue
✦AI Summary
Merck has significantly lowered its annual profit forecast due to rising acquisition costs, despite reporting revenue figures that exceeded analyst expectations. The pharmaceutical company is adjusting its financial outlook as it integrates new assets.
The pharma giant now expects adjusted earnings of $2.66 to $2.76 per share, down from a prior range of $5.04 to $5.16
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