Merck’s quarterly sales slip one percent

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Merck's quarterly sales slip one percent

Merck & Co Inc reported a 1 percent drop in quarterly sales, hurt by a strong dollar and the loss of market exclusivity on certain drugs.

However, net income attributable to shareholders rose to $1.17 billion, or 42 cents per share, in the fourth quarter ended Dec. 31 from $976 million, or 35 cents per share, a year earlier.

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Sales slipped to $10.12 billion from $10.22 billion, the company said on Thursday.