Financial Times FT.com

Cost cuts buoy drug groups’ profits

By Shannon Bond in New York and Haig Simonian in Zurich

Published: October 22 2009 22:06 | Last updated: October 22 2009 22:06

Pharmaceutical companies maintained profits in the third quarter, helped by cost controls, but sales gains were modest.

Merck, the US drugmaker, posted earnings well above Wall Street’s forecasts yesterday, while numbers from Novartis, Bristol Myers Squibb and Schering Plough were in line with market expectations.

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