Merck Revenues Rise Smartly, but It's Still Planning More Layoffs

Just like rival Pfizer (PFE), which saw revenue and earnings jump last quarter upon the completion of the Wyeth acquisition, so did Merck & Co.'s (MRK) results benefit from its $41.1 billion purchase of Schering-Plough. The drugmaker, known for its Singulair asthma medicine and cervical cancer vaccine Gardasil, posted huge jumps in revenue and profit for the fourth quarter. Still, Merck announced restructuring steps, including massive layoffs.