WHITEHOUSE STATION, N.J. -- The drug maker Merck & Co. says its profit almost doubled in the first quarter due to a $1.4 billion distribution from a partner drug company. It sales were slightly higher.
The maker of allergy and asthma pill Singulair today reported net income of $3.3 billion, or $1.52 per share, for the January-March period, up from $1.7 billion, or 78 cents a share, a year ago.
Excluding the $1.4 billion gain from AstraZeneca PLC of Britain and other one-time items, Whitehouse Station, N.J.-based Merck earned 89 cents per share in the latest quarter.
Revenues totaled $5.82 billion, up 1 percent from $5.77 billion in the first three months of 2007.
