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BRIEF-Merck to record $2.9 bln impairment charge related to uprifosbuvir program - SEC filing
February 23, 2017 / 10:54 PM / 8 months ago

BRIEF-Merck to record $2.9 bln impairment charge related to uprifosbuvir program - SEC filing

Feb 23 (Reuters) - Merck & Co Inc:

* On Feb 17, determined that it will record intangible asset impairment charge related to research program for MK-3682, uprifosbuvir - SEC filing

* Company’s previously reported Q4 and full year non-GAAP EPS remain unchanged - SEC filing

* Continues to evaluate options with respect to uprifosbuvir clinical development program

* Will monitor remaining $240 million intangible asset for further impairment

* “Will monitor remaining $240 million intangible asset for further impairment”

* Previously reported Q4 2016 GAAP diluted earnings per share (EPS) were reduced from $0.42 to a loss of $0.22

* $240 million fair value is to be recognized as a pre-tax impairment charge of $2.9 billion, which is to be reflected in the Co’s 2016 results

* Full-year 2016 GAAP EPS were reduced from $2.04 to $1.41 Source text: (bit.ly/2mqkKk4) Further company coverage:

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