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Merck & Co.

SP integration continues, and a $1 billion reserve hedges another Vioxx settlement

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Merck 3Q10

3Q Revenues: $11.1 billion (-4%*)

3Q Earnings: $372 million (-89%)

YTD Revenues: $33.9 billion (+1%*)

YTD Earnings: $1.5 billion (-77%)

Comments: Merck posted $9.6 billion in 3Q10 human health revenues, down from $10.1 billion of combined Merck and Schering-Plough sales in 3Q09. Merck put $950 million into reserve to settle an investigation by the Massachusetts district of the U.S. Attorney’s Office into Merck’s Vioxx marketing practices. In the quarter, Singulair sales rose 12% to $1.2 billion, Januvia sales rose 43% to $247 million, and Cozaar/Hyzaar sales plummeted 51% to $423 million due to generic competition.

* Compared to non-GAAP revenue numbers, intended to reflect combined Merck/Schering-Plough figures for 2009.

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