Originally published November 23 2003
Merck's earnings suffer due to generic drug manufacturers
by Mike Adams, the Health Ranger, NaturalNews Editor
Drug companies like Merck are all about generating profits, and when generic manufacturers enter the market with more affordable drugs, the big-name pharmaceutical companies always see earnings suffer. What's wrong with all this? It shouldn't be about profits in the first place. We should create a system where companies profit by keeping people healthy, not be keeping them diseased. Think about it: the sicker the population, the more money Merck makes. There's something wrong with this picture...
- Merck was one of a number of big drugmakers that reported earnings
today.
- "Generic drug companies have become much more sophisticated in terms
of their ability to successfully challenge patents, which means that a
larger proportion of products are coming off patent," he said.
- Most Wall Street analysts had expected Merck to post earnings of 85
cents a share.
- The company's earnings exclude results from Medco Health Solutions
Inc., the prescription drug benefit business Merck spun off to
shareholders on Aug. 19.
- Investors, who have been hammering Merck and other big drugmakers all
year, punished the company's stock again today.
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