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Financial Report: Merck 1Q08

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Merck

1Q Revenues: $5.8 billion (+1%)

1Q Earnings: $3.3 billion (+94%)

Comments: Worldwide sales of Singulair were $1.1 billion (+10%); Cozaar and Hyzaar sales were $847 million (+6%); Fosamax and Fosamax Plus D sales were $470 million (-37%); Januvia, Janumet and Isentress sales were $1.8 billion (+14%). Worldwide sales of vaccines were $986 million in the quarter (+9%). Combined worldwide sales of Zetia and Vytorin, as reported by the Merck/Schering-Plough joint venture, were $1.2 billion (+6%). R&D expenses were $1.1 billion in the quarter (+5%). Restructuring costs, primarily employee separation costs associated with the company’s global restructuring program, net of gains on the sales of facilities and related assets, were $70 million. Earnings in the quarter include a $2.2 billion gain related to a distribution from AstraZeneca LP.

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