News Summary: Merck 3Q net income falls with sales
THE GOOD: Merck & Co. had higher third-quarter sales of its immune disorder drugs and vaccines, and touted potential experimental drugs for cancer and hepatitis C that U.S. regulators have designated as breakthrough therapies.
THE BAD: Total sales fell 4 percent because of generic competition for seven drugs and lower sales of top seller Januvia for diabetes. It cut its 2013 profit forecast by about 25 cents per share.
THE UGLY: Net income plunged 35 percent due to big charges, unfavorable currency exchange rates and lower sales in all three of its businesses: prescription drugs, veterinary medicines and consumer health products.