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Positive Points: Management emphasised Merck's strategy of executing on its core business, expanding geographically in high-growth markets, extending its complementary businesses and focussing at managing costs while investing for growth. The company stated that sales in emerging markets now accounted for about 20% of its pharmaceutical revenue, led by a 19% increase in China. Merck benefits from a strong balance sheet and cash-generating ability. Along with a strong pipeline and product portfolio, this enables it to offset weakness in any single product. The company said it plans to seek US regulatory approval by the end of 2013 for its insomnia drug suvorexant, its osteoporosis treatment odanacatib, and cholesterol drug tredaptive. The group adopts a focus on shareholder return and operates a share buy-back programme.
Negative Points: Merck, like its rivals, has been cutting costs as part of an effort to soften the blow from increased generic competition. The company's top-selling allergy and asthma medication Singulair lost patent exclusivity in August. Sales of Singulair dropped 55% to $602 million while Vytorin sales declined 10% to $423 million. Governments around the world continue to try and reduce health spending budgets. The pharmaceutical industry is exposed to political risk, litigation, product development risk, regulatory risk, and pricing pressures.
Financial Highlights: Merck reported a profit of $1.73 billion, up from $1.69 billion a year earlier. Revenue fell 4% to $11.49 billion, below Wall Street expectations of $11.57 billion.
Third quarter results: Merck sees profits rise as sales dip. Merck delivered a robust performance amid generic competition that began in August following the US expiration for the company's top selling asthma drug Singulair. The healthcare giant announced an improvement in profits to $1.73 billion, up from $1.69 billion a year earlier. Worldwide sales achieved $11.5 billion, which were down from $12 billion in the prior year quarter and shy of Wall Street estimates. The company said it remains on target to submit multiple new products for marketing approval between now and the end of 2013, including suvorexant for insomnia, odanacatib for osteoporosis and cholesterol drug Tredaptive. The company narrowed its full-year adjusted-earnings estimate to between $3.78 and $3.82 a share from its previous forecast of $3.75 to $3.85 a share
Company overview US drugmaker, Merck & Co, is a leading global research-driven pharmaceutical products and services company. The company discovers, develops, manufactures and markets a broad range of innovative products to improve human and animal health, directly and through its joint ventures. Its products, generally sold by prescription, include therapeutic and preventative agents for the treatment of human disorders and animal health supplies. The company's products are sold, primarily, to drug wholesalers and retailers, hospitals, clinics, government agencies and managed healthcare providers, such as health maintenance organisations and other institutions.
Positive Points: Merck is on track to apply for regulatory approval of six experimental drugs over the next 18 months, including odanacatib and new medicines for high cholesterol, insomnia and cancer. Singulair saw sales rise 6% to $1.43 billion in its last quarter before US generic competition is expected on 3 August. Cholesterol drugs Zetia and Vytorin saw combined sales of $1.08 billion, up nearly 3% while HIV drug Isentress revealed sales up 17% to $398 million. Merck has a strong balance sheet and cash-generating ability. Along with a strong pipeline and product portfolio, this enables it to offset weakness in any single product. The group adopts a focus on shareholder return and operates a share buy-back programme.
Negative Points: Merck faces the US patent expiration of top drug Singulair in August. Governments around the world continue to try and reduce health spending budgets. The pharmaceutical industry is exposed to political risk, litigation, product development risk, regulatory risk, and pricing pressures. Merck noted unfavorable currency exchange rates, mainly due to the weak euro. Similar to other drug makers, Merck faces patent expirations and many of its big drugs suffered with generic competition in recent years, slashing group sales. The industry is becoming more reliant on successful development and launch of key compounds in order to stave off declining sales.
Financial Highlights: Merck reported a profit of $1.79 billion, down from $2.02 billion a year earlier. Revenues increased 1.3% to $12.31 billion. Pharmaceutical sales climbed 1.9% to $10.56 billion. Singulair sales were up 6%, while sales of Vytorin decreased 3.1%.
Second quarter results: Merck posted continued sales growth in the quarter "in the face of significant pressures from a difficult global economic environment", stated management. Group profits declined 11% amid acquisition related costs and a year earlier tax benefit, while sales gains for newer drugs helped offset declines for older drugs. Merck's results beat Wall Street estimates and said it was on track to file applications seeking regulatory approval of six major new drugs by the end of 2013. The company is counting on the success of at least some of these drugs to help soften the negative impact of patent expirations for some of its current top sellers.
US drugmaker, Merck & Co, is a leading global research-driven pharmaceutical products and services company. The company discovers, develops, manufactures and markets a broad range of innovative products to improve human and animal health, directly and through its joint ventures. Its products, generally sold by prescription, include therapeutic and preventative agents for the treatment of human disorders and animal health supplies. The company's products are sold, primarily, to drug wholesalers and retailers, hospitals, clinics, government agencies and managed healthcare providers, such as health maintenance organisations and other institutions.