Merck boosts earnings outlook on solid demand

Merck & Co. raised its earnings forecast for the first quarter on higher demand for new drugs including a cervical cancer vaccine and a diabetes pill.

First-quarter profit probably will be 63 cents to 67 cents a share when costs for job cuts and plant closings are excluded, said Whitehouse Station, N.J.-based Merck. The forecast beat the average estimate of 59 cents a share, excluding restructuring costs, of analysts surveyed by Bloomberg.