Merck Cuts Profit Guidance Due To Terns Pharmaceuticals Acquisition Charge
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Merck has raised its revenue outlook as sales from new drugs increase. However, the company has cut its profit guidance due to a charge tied to its acquisition of biotech company Terns Pharmaceuticals.
MerckTerns Pharmaceuticals
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“Merck cut its profit guidance due to a charge tied to its acquisition of biotech company Terns Pharmaceuticals.”
CNBC — Merck hikes revenue outlook as new drug sales grow, but cuts profit guidance due to deal charges