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Merck Lifts FY Adj. Profit View

Merck & Co., Inc. (MRK) said it raised its full-year 2019 non-GAAP earnings per share outlook to a range of $4.84 - $4.94, from the prior range of $4.67 - $4.79 per share.
Analysts polled by Thomson Reuters expect the company to report earnings of $4.75
per share for 2019. Analysts' estimates typically exclude special items.

In Tuesday pre-market, MRK is trading at $85.15, up $2.66 or 3.22 percent.

The company reduced its full-year 2019 GAAP earnings per share outlook to a range of $3.78 -$3.88 from the previous outlook of $4.02 and $4.14, reflecting the inclusion of an about $1.1 billion charge related to the acquisition of Peloton.

The company narrowed and raised its full-year 2019 revenue range to be between $45.2 billion and $46.2 billion, including a negative impact from foreign exchange of slightly more than 1% at mid-July exchange rates. Earlier, it expected annual revenue to be between $43.9 billion and $45.1 billion. Analysts expect annual revenues of $44.74 billion.

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