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News Summary: Charges, sales slump cut Merck net

By The Associated Press
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DOWN QUARTER: The drugmaker Merck reported its fourth-quarter profit fell 14 percent to $781 million, or 26 cents per share. Excluding restructuring and other charges, it earned $2.6 billion. Its adjusted results missed analysts’ forecasts by a penny per share.

SALES SLUMP: Generic competition, unfavorable exchange rates and other factors hurt sales, which dipped 4 percent to $11.32 billion.

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