On Tuesday, (NYSE: MRK) wasn't one of the better-performing pharmaceutical stocks. In contrast to certain peers, the company's share price declined following the release of second-quarter results. Merck lost nearly 2% of its value, posting a steeper decrease than the 0.3% of the bellwether S 500 index.
The company released its latest set of figures well before market open, giving investors plenty of time to express their disappointment. For the quarter, total sales were $15.8 billion, representing a year-over-year decline of 2%. This despite the 9% improvement in sales of the company's cancer drug Keytruda, while the take for its animal health portfolio was up a healthy 11%.
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Source Fool.com