Merck Revenue Stunted by Generic Competition
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From Bloomberg News
Merck & Co. said fourth-quarter revenue rose little as competition eroded demand for its biggest-selling drugs.
Sales of Merck’s Zocor cholesterol pill fell 18% as cheaper generic copies became available in Europe, holding the Whitehouse Station, N.J.-based company’s revenue almost unchanged at $5.77 billion. Net income rose 2% to $1.12 billion, or 51 cents a share.
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