India, April 24 -- Biopharmaceutical company Merck & Co., Inc. (MRK) reported Thursday a net profit for the first quarter that grew 7 percent from last year, primarily reflecting improved gross margins and lower restructuring costs, despite a 2 percent sales drop and negative foreign exchange impact.
Adjusted earnings per share topped analysts' estimates, while quarterly sales missed it. The company also trimmed its adjusted earnings guidance for the full-year 2025, but backed annual sales outlook.
In pre-market activity on the NYSE, MRK shares are trading at $79.60, up $0.86 or 1.09 percent.
"Our company made strong progress to start the year, with increasing contributions from our newer commercialized medicines and vaccines and continu...