Pharmaceutical firm Merck reported a net income of $906m, or $0.30 per share for the second quarter ended on 30 June 2013 compared to $1.8bn, or $0.58 per share in 2012.
Total revenue for the second quarter ended on 30 June 2013 was $11bn, a decrease of 11%, compared to $12.3bn in 2012.
Net income for first half of 2013 was $2.5bn, or $0.82 per share, compared to a net income of $3.5bn, or $1.15 per share, for the first half of 2012.
Total revenue for the first half of 2013 was $21.7bn, a decrease of 10%, compared to $24bn in 2012.
Merck chairman and CEO Kenneth Frazier said that with seven of their top 10 products growing in the second quarter and solid performance overall, the company will continue to navigate significant patent expiries and adapt to the evolving global healthcare environment.
"We remain committed to pursuing innovative, best-in-class science that translates into medically important products, such as our PD-1 inhibitor for oncology," Frazier added.
"To enable further investment in promising growth opportunities, we continue to manage costs effectively, as reflected in our results for the quarter."
