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Merck raises revenue outlook but cuts profit guidance on deal charge

Merck cited a charge related to its acquisition of Terns Pharmaceuticals as the reason for the lower profit outlook, despite growing sales from newer drugs.

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Merck is lifting its revenue outlook as sales from newer drug products continue to expand, according to CNBC Markets.

At the same time, the company is cutting its profit guidance, the outlet said, because of a charge tied to its acquisition of biotech company Terns Pharmaceuticals.

CNBC Earnings reported that the change reflects stronger top line momentum alongside higher deal-related costs impacting earnings expectations.

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