Merck & Co Inc reported better-than-expected quarterly results on Tuesday, helped by strong sales of consumer products and medicines for arthritis and HIV, sending its shares up more than 1 percent in morning trading.Merck, the No. 2 U.S. drugmaker, has been busy with deal-making in recent months, including an agreement to sell its consumer care business to Germany's Bayer AG for $14.2 billion. In June, it agreed to purchase Idenix Pharmaceuticals Inc for $3.85 billion and hopes to combine the two companies' most promising drugs to produce a faster, more effective cure for hepatitis C.Chief Executive Kenneth Frazier, in a conference call with analysts on Tuesday, said Merck was not interested in major acquisitions, but instead favors smaller "bolt-on" deals like the Idenix transaction.Merck is counting on its experimental drugs, including an immuno-oncology drug called pembrolizumab, to help drive revenue and earnings growth in coming years, Frazier said.
Idenix Pharmaceuticals, Inc. (Idenix) is a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases with operations in the United States and France. Shares of IDIX traded higher by 0.1% or $0.025/share to $24.34. In the past year, the shares have traded as low as $2.93 and as high as $24.37. On average, 2605170 shares of IDIX exchange hands on a given day and today's volume is recorded at 1021134.
Merck & Co., Inc. (Merck), is a global health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products, which it markets directly and through its joint ventures. Shares of MRK traded higher by 1.47% or $0.85/share to $58.82. In the past year, the shares have traded as low as $44.62 and as high as $59.84. On average, 8884900 shares of MRK exchange hands on a given day and today's volume is recorded at 2492802.
Source
