Updated on 30 July 2012
Hard times: Sales grow by only one percent
Singapore: Merck, known as MSD outside the US and Canada, today announced financial results for the second quarter (Q2) of 2012. While the second quarter non-GAAP EPS increased 11 percent over prior year to $1.05, the company recorded a GAAP EPS of $0.58.
Worldwide sales of the firm witnessed a one percent increase to $12.3 billion. Sales of the company were also unfavorably impacted by the arbitration settlement agreement with Johnson & Johnson. Pharmaceuticals, animal health and consumer care all contributed to the growth growth of Merck in Q2. The company also witnessed a double-digit global growth for Januvia, Janumet, Victrelis, Isentress, Gardasil and Zostavax.
Merck is on track for six major filings in 2012-13, including Suvorexant and Odanacatib. The firm also reaffirmed 2012 full-year non-GAAP EPS Target of $3.75-to-$3.85, and GAAP EPS range of $2.04-to-$2.30.
Mr Kenneth C Frazier, chairman and CEO, Merck, said that, "The company remains focused on translating cutting-edge science into medically important products. We're seeing significant progress in the pipeline this year, and we expect six major filings over the next 18 months, including Suvorexant for insomnia and Odanacatib for osteoporosis. This focus on innovation and execution will drive long-term shareholder value."