Merck KGaA Profit Drops 48%; Company to Meet Guidance

July 24 (Bloomberg) -- Merck KGaA said second-quarterprofit dropped 48 percent as sales of liquid crystals used inflat-panel electronics slumped and spending on drug research anddevelopment increased. Net income fell to 108.5 million euros (3.7 million)from 207.4 million euros a year earlier, Darmstadt, Germany-based Merck said in a statement today. Also, European regulatorsyesterday recommended against approving the company’s Erbituxdrug in advanced or metastatic non-small cell lung c

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