Merck forecasts 1st-quarter EPS below Street view

(Reuters) – Merck & Co Inc said on Tuesday it expects first-quarter earnings per share to be between 95 and 98 cents, excluding items, below the average estimate on Wall Street of $1.01. Including items, the drugmaker sees earnings per share between 52 cents and 60 cents. With the euro exchange rate at about $1.31 in the first quarter, currency is expected to have a 1 to 2 percent unfavorable impact on sales in the first quarter. The company reiterated its 2012 full-year forecast, calling for earnings per share between $3.75 and $3. …