Merck revenue misses mark as diabetes, arthritis drugs lag
July 30 (Reuters) - Merck & Co's quarterly revenue fell short of Wall Street expectations, on lower sales of its consumer health and animal health products and weak growth of its treatments for diabetes and arthritis.
The second-biggest U.S. drugmaker on Tuesday said it earned $906 million, or 30 cents per share, in the second quarter. That compared with $1.79 billion, or 58 cents per share, in the year-earlier period.
Global company revenue fell 11 percent to $11.01 billion,
hurt by generic competition for its Singulair asthma drug, which lost U.S. patent protection a year ago. Wall Street had expected company revenue of $11.22 billion.