Merck's net falls on charges, but sales rise

Merck, a Whitehouse Station, N.J.-based pharmaceutical company, is increasingly placing women in its top positions, with 41 percent of its managers and executives being female. Special section: Eye on Parenting Special section: Back to School Working Mother 100 Best Companies Best companies for working moms: Latest list
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WHITEHOUSE STATION, N.J. - Merck & Co. (MRK) says its second-quarter net income fell 11.4 percent as slightly higher sales were offset by acquisition and restructuring costs, but the drugmaker beat Wall Street expectations.

The maker of diabetes pill Januvia and asthma and allergy medicine Singulair says net income was $1.79 billion, or 58 cents per share, down from $2.02 billion, or 65 cents per share, a year earlier.

Excluding one-time items, net income was $3.23 billion, or $1.05 per share, up from $2.95 billion, or 95 cents per share, in 2011's second quarter. That beat analysts' expectations of earnings per share of $1.01.

Revenue rose 1.3 percent to $12.31 billion. Analysts polled by FactSet, on average, expected $12.15 billion.

Shares of Merck rose 66 cents to $43.99 in premarket trading.