NEW YORK ( TheStreet) -- Merck ( MRK - Get Report) said it expects first-quarter non-GAAP earnings of 95 cents to 98 cents a share as it will be unfavorably impacted by the euro exchange rate by about 1% or 2%.

Analysts expect earnings of $1.01 a share.

Merck also re-affirmed previous guidance on Tuesday that it expects 2012 full-year non-GAAP earnings per share of between $3.75 and $3.85. Analysts, on average, expects earnings per share of $3.81.

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