Merck's Top-Selling Diabetes Drugs Miss Sales Estimates
- Januvia, Janumet generate $1.44 billion in fourth quarter
- Full-year revenue may decline as low as $38.7 billion
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Merck & Co.’s top-selling and closely watched diabetes drugs missed analysts’ expectations in the fourth quarter, and the offered guidance for 2016 with a low end of its range that fell short of estimates.
The Kenilworth, New Jersey-based pharmaceutical giant reported fourth-quarter adjusted profit of 93 cents a share, which beat expectations for 91 cents because of the performance of drugs including cholesterol treatment Zetia and its new cancer immunotherapy Keytruda.