Merck posted a pretty solid Q2 2016 -- but lowered and narrowed its EPS ranges for the full year. You may wish to read the very-capable Linda Johnson's take on it all here (with a bit of it, quoted in blue, below). For the year (in relatively good news not being widely reported), Kenilworth expects that currencies will only be a two per cent headwind, at the revenue line:
. . . .The second-biggest U.S. drugmaker is countering the fiercely competitive pharmaceutical industry's emphasis on short-term results, instead prioritizing steadily building market share in the hot categories of hepatitis C and immune system-boosting cancer drugs. Both Keytruda and Zepatier trail rival drugs that had a head start and dominate those multibillion-dollar markets.
Merck executives said Friday they're working on catching up as they win broader insurance coverage and as continuing patient studies provide more evidence the two drugs outperform other therapies. . . .
The Kenilworth, New Jersey, company lowered its 2016 financial forecasts slightly, citing higher costs for restructuring and write-downs in the value of some products with limited sales potential — also the result of shifting more marketing and research dollars to Keytruda and Zepatier. . . .
Now you know -- off for the weekend, with my youngest son -- down from the North. Smile.