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Financial Reports: Merck 2Q11

Sales up, but Merck announces major restructuring effort

By: Gil Roth

President, Pharma & Biopharma Outsourcing Association

Merck 2Q11

2Q Revenues: $12.2 billion (+7%)

2Q Earnings: $2.0 billion (+169%)

YTD Revenues: $23.7 billion (+4%)

YTD Earnings: $3.1 billion (+181%)

Comments: Sales growth in 2Q was driven by big jumps in Remicade (+26% to $842 million), Januvia (+30% to $779 million) and Janumet (+47% to $321 million), offsetting losses in Cozaar/Hyzaar (-16% to $406 million). Earnings took a big jump, due to restructuring charges in 2Q10. Singulair sales rose 8% to $1.4 billion during its last full year of patent protection. Merck announced a new restructuring plan, and will lay off more than 10,000 people to gain $1.5 billion in annual savings by 2015.

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