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Financial Reports: Merck & Co.

Singulair generics, strong dollar drag down revenues

By: Gil Roth

President, Pharma & Biopharma Outsourcing Association

Merck 2Q13

2Q Revenues: $11.0 billion (-11%)

2Q Earnings: $906 million (-50%)

YTD Revenues: $21.7 billion (-10%)

YTD Earnings: $2.5 billion (-29%)

Comments: An 80% drop in Singulair sales led to a $1.1 billion shortfall in revenues for Merck in 2Q13, wiping out scant gains for top products Januvia (+1% to $1.1 billion), Zetia (+3% to $650 million), Remicade (+2% to $527 million) and Janumet (+16% to $474 million). A stronger dollar also hurt Januvia revenues, which would have posted 7% growth at constant exchange rates. For YTD, Januvia sales are down 1% to $2.0 billion, while Janumet sales are up 10% to $802 million. Consumer Care revenues fell 11% to $490 million in the quarter, after the termination of some distribution arrangements in China and a reversal of sales previously made to its distributors.

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