Merck posts mixed quarterly results

Merck & Co. reported lower than expected third-quarter revenue, hurt by sharply lower sales of its Gardasil vaccine against cervical cancer, but cost cuts enabled the company to beat earnings forecasts.

The drugmaker posted earnings of $895 million during the quarter, down from $1.12 billion a year earlier, according to Reuters.

Merck narrowed its full-year 2014 profit forecast, excluding special items, to between $3.46 and $3.50 per share, from its earlier view of $3.43 to $3.53 per share.

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