Merck on Wednesday reported a 2.5 percent fall in quarterly revenue, hurt by a strong dollar and declining sales of its Remicade arthritis treatment.
Merck's stock price dropped more then 2 percent in premarket trading after the release of the earnings report. (Click here for the latest price.)
Net income fell to $981 million, or 35 cents per share, for the fourth quarter ended Dec. 31 from $7.32 billion, or $2.54 per share, from a year earlier.
On an adjusted basis, the company earned 93 cents per share. Revenue fell to $10.22 billion from $10.48 billion.
Analysts had expected Merck to report adjusted earnings of about 91 cents a share on $10.35 billion in revenue, according to a consensus estimate from Thomson Reuters.