Merck announced strong financial results for the second quarter of 2006, with earnings per share of $0.73 excluding restructuring charges. Revenue increased 6% to $5.8 billion driven by strong sales of drugs like ZOCOR, SINGULAIR, and vaccines. Merck also gained FDA approval for new vaccines GARDASIL and ZOSTAVAX, and raised full-year 2006 guidance. In addition, the company reported progress on drugs in development like JANUVIA and ZOLINZA.
Merck announced strong financial results for the first quarter of 2006, with earnings per share of $0.78 excluding restructuring charges. Solid performance of key drugs like ZOCOR, SINGULAIR and vaccines, along with partnerships, drove earnings. Merck raised full-year 2006 guidance, now anticipating EPS between $2.32-$2.40 excluding charges. Performance of major franchises like SINGULAIR, COZAAR/HYZAAR and FOSAMAX was mixed, with US sales remaining strong but international sales declining due to generics.
Merck announced strong financial results for Q3 2006, with EPS of $0.51 including additional legal defense costs for VYTORIN lawsuits. Key drugs like SINGULAIR, VYTORIN, and vaccines performed well. Full-year 2006 EPS guidance was raised to a range of $2.48-$2.52 excluding restructuring charges. The FDA approved two new drugs, JANUVIA for diabetes and ZOLINZA for skin cancer treatment. Pipeline programs for HIV and insomnia treatments were updated.
Merck reported double-digit earnings per share growth for the second quarter of 2007, driven by strong performance of key products. EPS excluding restructuring charges were $0.82, up 12% from the prior year. Sales increased 6% to $6.1 billion for the quarter. Merck raised its full-year 2007 EPS guidance to a range of $3.00 to $3.10 excluding restructuring charges. Best-selling products like Singulair, Januvia, and vaccines contributed significantly to revenue growth.
Merck announced its earnings per share guidance for 2005 of $2.42 to $2.52 per share, anticipating continued growth of newer products like ZETIA and VYTORIN. It also reaffirmed its 2004 EPS guidance of $2.59 to $2.64 per share, despite a $0.50 to $0.55 per share negative impact from withdrawing VIOXX. Merck expects to file several vaccine candidates and a new diabetes drug in 2005 and continue stock buybacks while growing sales of major products like ZOCOR, FOSAMAX, COZAAR/HYZAAR, and SINGULAIR.
Type ii diabetes case study for Drug LaunchKoushik Sircar
An attempt to provide a brief on Market Entry for New Add-On Drug ( Secondary Care) within Type-II Diabetes Market- focused on Add-on Drugs Data Analysis, Visualizations, Growth Share Matrix and Frameworks for Market Entry
Merck reported double-digit revenue and earnings-per-share growth for Q3 2007. Revenue grew 12% to $6.1 billion driven by strong sales of key products like SINGULAIR, JANUVIA, GARDASIL and VARIVAX. EPS for Q3 2007 was $0.75 excluding restructuring charges. Merck also gained FDA approval for its HIV treatment ISENTRESS and raised full-year 2007 EPS guidance to a range of $3.08 to $3.14 excluding restructuring charges.
Merck announced strong financial results for full-year and fourth-quarter 2005. Full-year earnings per share were $2.53 including a $295 million reserve for VIOXX legal defense costs, while reported EPS were $2.10. Fourth-quarter EPS were $0.64 including the VIOXX reserve. Merck reaffirmed its 2006 EPS guidance range despite eliminating 1,100 positions through a global restructuring involving site closures. Key products like Singulair and the cholesterol franchise performed well.
Merck announced third quarter 2005 earnings per share of $0.65. Merck anticipates full-year 2005 EPS to be between $2.47 to $2.51, excluding a tax charge, or $2.18 to $2.22 including the charge. Key drug franchises like Singulair, Cozaar/Hyzaar, and Fosamax maintained sales leadership. Merck's pipeline progressed with positive Phase III data for the HPV vaccine Gardasil and Phase II data for the diabetes drug sitagliptin. Merck formed new partnerships including one with Agensys to develop a prostate cancer antibody.
Merck announced strong financial results for the first quarter of 2006, with earnings per share of $0.78 excluding restructuring charges. Solid performance of key drugs like ZOCOR, SINGULAIR and vaccines, along with partnerships, drove earnings. Merck raised full-year 2006 guidance, now anticipating EPS between $2.32-$2.40 excluding charges. Performance of major franchises like SINGULAIR, COZAAR/HYZAAR and FOSAMAX was mixed, with US sales remaining strong but international sales declining due to generics.
Merck announced strong financial results for Q3 2006, with EPS of $0.51 including additional legal defense costs for VYTORIN lawsuits. Key drugs like SINGULAIR, VYTORIN, and vaccines performed well. Full-year 2006 EPS guidance was raised to a range of $2.48-$2.52 excluding restructuring charges. The FDA approved two new drugs, JANUVIA for diabetes and ZOLINZA for skin cancer treatment. Pipeline programs for HIV and insomnia treatments were updated.
Merck reported double-digit earnings per share growth for the second quarter of 2007, driven by strong performance of key products. EPS excluding restructuring charges were $0.82, up 12% from the prior year. Sales increased 6% to $6.1 billion for the quarter. Merck raised its full-year 2007 EPS guidance to a range of $3.00 to $3.10 excluding restructuring charges. Best-selling products like Singulair, Januvia, and vaccines contributed significantly to revenue growth.
Merck announced its earnings per share guidance for 2005 of $2.42 to $2.52 per share, anticipating continued growth of newer products like ZETIA and VYTORIN. It also reaffirmed its 2004 EPS guidance of $2.59 to $2.64 per share, despite a $0.50 to $0.55 per share negative impact from withdrawing VIOXX. Merck expects to file several vaccine candidates and a new diabetes drug in 2005 and continue stock buybacks while growing sales of major products like ZOCOR, FOSAMAX, COZAAR/HYZAAR, and SINGULAIR.
Type ii diabetes case study for Drug LaunchKoushik Sircar
An attempt to provide a brief on Market Entry for New Add-On Drug ( Secondary Care) within Type-II Diabetes Market- focused on Add-on Drugs Data Analysis, Visualizations, Growth Share Matrix and Frameworks for Market Entry
Merck reported double-digit revenue and earnings-per-share growth for Q3 2007. Revenue grew 12% to $6.1 billion driven by strong sales of key products like SINGULAIR, JANUVIA, GARDASIL and VARIVAX. EPS for Q3 2007 was $0.75 excluding restructuring charges. Merck also gained FDA approval for its HIV treatment ISENTRESS and raised full-year 2007 EPS guidance to a range of $3.08 to $3.14 excluding restructuring charges.
Merck announced strong financial results for full-year and fourth-quarter 2005. Full-year earnings per share were $2.53 including a $295 million reserve for VIOXX legal defense costs, while reported EPS were $2.10. Fourth-quarter EPS were $0.64 including the VIOXX reserve. Merck reaffirmed its 2006 EPS guidance range despite eliminating 1,100 positions through a global restructuring involving site closures. Key products like Singulair and the cholesterol franchise performed well.
Merck announced third quarter 2005 earnings per share of $0.65. Merck anticipates full-year 2005 EPS to be between $2.47 to $2.51, excluding a tax charge, or $2.18 to $2.22 including the charge. Key drug franchises like Singulair, Cozaar/Hyzaar, and Fosamax maintained sales leadership. Merck's pipeline progressed with positive Phase III data for the HPV vaccine Gardasil and Phase II data for the diabetes drug sitagliptin. Merck formed new partnerships including one with Agensys to develop a prostate cancer antibody.
Merck announced full-year 2004 earnings per share of $2.61, with fourth-quarter EPS of 50 cents. Merck reaffirmed its 2005 EPS guidance range of $2.42 to $2.52, and anticipated first-quarter 2005 EPS of 54 to 58 cents. Merck increased its reserve for future legal defense costs related to VIOXX litigation to $675 million. Merck's major product franchises, including Singulair, Fosamax, Cozaar/Hyzaar, Zocor, and the cholesterol-lowering drugs Zetia and Vytorin in partnership with Schering-Plough, remained market leaders.
Merck announced earnings per share of $2.92 for full-year 2003 and $0.62 for the fourth quarter of 2003. Sales increased 5% for the full year but decreased 7% for the fourth quarter due to Merck's new US distribution program. Merck reaffirmed its 2004 EPS guidance of $3.11 to $3.17. Key products like Zocor, Fosamax, Cozaar, Singulair and Vioxx remained top sellers, though some faced increased competition or effects from the new distribution program. Merck's research pipeline includes potential new vaccines and treatments for conditions like diabetes and Alzheimer's.
- Merck reported first quarter 2005 earnings per share of $0.62, down from $0.73 in the first quarter of 2004. However, sales of newer products grew and cost management led expenses to be lower than expected.
- For 2005, Merck anticipates EPS between $2.44-$2.52 and second quarter EPS of $0.60-$0.64. Several new product approvals and indications were announced in the first quarter.
- Merck's major product franchises like Singulair, Cozaar, Fosamax, and Zocor remain top sellers. Late-stage vaccines and other pipeline candidates are progressing on schedule.
Merck announced second-quarter 2004 earnings per share of 79 cents, level with the prior year. Worldwide sales grew 9% to $6 billion for the quarter. Merck reaffirmed its full-year 2004 EPS guidance of $3.11 to $3.17 and anticipated third-quarter EPS of 80 to 84 cents. Key pipeline developments included MK-431 entering Phase III trials for diabetes and positive data for ROTATEQ, Merck's investigational rotavirus vaccine. Merck continued strategic licensing deals, including collaborations for diabetes compound muraglitazar and cancer compound VX-680.
Merck announced its 2006 financial results, reporting solid revenue growth. Key points:
- Vaccines, SINGULAIR, ZETIA and VYTORIN drove full-year revenue increases. Launches of GARDASIL and JANUVIA provide a platform for continued growth in 2007.
- Full-year 2006 earnings per share were $2.52 excluding certain charges, and $2.03 as reported. Fourth-quarter earnings per share were $0.50 and $0.22, respectively.
- Merck reaffirmed its guidance for 2007 earnings per share between $2.51-$2.59 excluding charges, and $2.36-$2.49 as reported.
Merck announced third-quarter 2004 earnings per share of 60 cents, including a 25 cent unfavorable impact from withdrawing Vioxx worldwide. Merck anticipates fourth-quarter EPS of 48-53 cents and full-year 2004 EPS of $2.59-$2.64 due to withdrawing Vioxx. Several drug trials showed positive results and new products like Vytorin were launched, but Vioxx sales of $2.5 billion last year will significantly impact finances. Merck is redeploying resources and finding other growth areas.
Merck announced first-quarter 2004 earnings per share of $0.73, a 7% increase over the previous year. Worldwide sales were $5.6 billion for the quarter. Merck reaffirmed its full-year 2004 EPS guidance of $3.11 to $3.17. Key events in the quarter included acquiring Aton Pharma and completing the acquisition of Banyu Pharmaceutical, strengthening Merck's global position. Sales of major products like Zocor, Fosamax, Cozaar, and Singulair increased compared to the previous year.
Danish pharmaceutical company Novo Nordisk (founded in 1923) is a global leader in diabetes care with 52% of the insulin market share. As of November 2008, it had a market capitalization of $33 billion. Novo Nordisk focuses on diabetes care, haemostatic agents, hormone replacement, growth disorders, obesity, and inflammation therapies. It has a strong pipeline of new drugs for diabetes care, including two new insulins due in early 2009. The company aims to increase its market share in diabetes care and expand into related areas like obesity and inflammatory diseases.
Merck announced second-quarter 2005 earnings per share of 33 cents, down from 79 cents in 2004 due to a $640 million net tax charge. Excluding this charge, EPS were 62 cents. Worldwide sales were $5.5 billion, down 9% from 2004 due to the Vioxx withdrawal. Merck anticipates third-quarter EPS of 61-65 cents and full-year 2005 EPS of $2.44-$2.52 excluding the tax charge. Major drug franchises like Singulair, Fosamax, Cozaar, and Zocor maintained or grew market share. Merck's vaccine and diabetes drug pipelines progressed with regulatory submissions.
The document provides an overview of Sanofi's Q4 and full year 2021 results. Key highlights include:
- Global sales grew 7.1% in 2021 to €37.7 billion, driven by strong growth of Specialty Care which became the largest business unit.
- Dupixent sales increased 53% in Q4 to €1.55 billion, with growth across all regions. Prurigo nodularis phase 3 trials showed significant improvements.
- Vaccines sales declined 6.5% in Q4 due to earlier seasonal flu shipments, while full year flu vaccine sales reached record levels in 2021.
- Planned launches of sutimlimab for CAD in 2022 and olp
Pharmaceutical Industry Financial Analysisjpotts89
This is a presentation that was completed for my Corporate Finance class my senior year with a team of three other students. I did my valuation of Eli Lilly.
Genzyme reported solid financial results for the first quarter of 2009, with revenue rising 4% to $1.15 billion compared to the same period last year. Net income increased 35% and non-GAAP net income grew 10%. Genzyme reaffirmed its revenue and earnings guidance for 2009. The company expects continued growth driven by new product launches and approvals over the coming months.
The document discusses mergers and acquisitions (M&A) in the pharmaceutical industry. It outlines problems faced by Indian pharmaceutical companies like pricing controls and fragmented markets. It also discusses trends in M&A activity, with multinational companies acquiring Indian firms for access to generic drugs and manufacturing. Reasons for M&A include expanding into new markets, cutting costs, and gaining access to biologics with longer commercial lifespans. The document also lists other inorganic growth strategies used in the industry like strategic alliances, outsourcing, and co-marketing agreements.
GlaxoSmithKline (GSK) is a global pharmaceutical company headquartered in London. It has a portfolio of products for major disease areas such as asthma, cancer, infections and mental health. GSK was formed in 2000 through the merger of Glaxo Wellcome and SmithKline Beecham. It has operations in over 120 countries and sells products in over 150 countries. Its top competitors include Johnson & Johnson, Pfizer, Merck and AstraZeneca.
Aromatics Manufacturing Market Analysis by 2020 Research Report Covers Updated Data Considering Post Impact of Covid-19 on Share, Size and Future Demand
Merck reported strong financial results for the first quarter of 2007. Worldwide sales increased 7% compared to the first quarter of 2006. Key products such as SINGULAIR, vaccines including GARDASIL, and the cholesterol drugs ZETIA and VYTORIN drove company growth. Merck anticipates second quarter EPS between $0.67-$0.71 and reaffirmed its full-year 2007 EPS guidance range.
Merck announced third quarter 2003 earnings per share of $0.83, a 6% increase over 2002. Net income was $1.865 billion. Merck will reduce costs by eliminating 4,400 positions and implementing a new U.S. wholesaler distribution program. As a result of these actions, full year 2003 EPS is expected to be $2.90 to $2.95. Major products like Zocor, Fosamax, Cozaar, and Singulair saw sales increases, but did not meet targets. Merck completed the spin-off of Medco and increased ownership of Banyu to 99%.
The document provides an overview of the global and Indian pharmaceutical industries. It discusses key metrics like global sales, R&D spending, mergers and acquisitions, and future projections. The global pharmaceutical market experienced slow growth in 2012 due to many blockbuster drug patents expiring, but sales are expected to steadily increase to $895 billion by 2018. The Indian pharmaceutical market is also growing, driven by factors like increasing demand from emerging markets, greater acceptance of medical treatment, and a growing elderly population in India.
GSK reported financial results for the third quarter of 2008. Revenue declined 3% due to generic competition impacting major pharmaceutical brands in the US, though other areas like vaccines and emerging markets saw growth. Earnings per share declined 9% due to higher costs of sales from generic competition. The company increased its dividend by 8% and continued share repurchases while pursuing strategic priorities like diversifying its business and expanding in emerging markets and consumer healthcare.
- Cardinal Health reported third-quarter results with revenue increasing 8% to nearly $22 billion and a loss of $5 million or $0.01 per share due to a $600 million litigation reserve.
- On a non-GAAP basis, earnings from continuing operations increased 10% to $390 million or 16% to $0.96 per share.
- The company closed the $3.3 billion sale of its PTS business and repurchased $1.4 billion in shares during the quarter.
- Cardinal Health reported a 5% increase in third quarter revenue to $22.9 billion and GAAP EPS of $1.02, compared to a $0.01 loss in the prior year. Non-GAAP EPS increased 13% to $1.08.
- Revenue growth was driven by the healthcare supply chain medical segment and clinical and medical products sector. However, the supply chain pharmaceutical segment faced challenges including customer disruption and slower market growth.
- The company reaffirmed its fiscal year 2008 non-GAAP EPS guidance range of $3.75 to $3.85.
This document discusses Sanofi's Q4 and full year 2018 results. It provides an agenda for the presentation and highlights key metrics:
- Q4 sales grew 4.7% at CER to €8.997 billion and EPS grew to €1.10. Full year sales grew 2.5% at CER to €34.463 billion.
- Specialty care sales grew 16.1% in Q4 driven by rare disease, MS, immunology and oncology franchises. Vaccines sales grew 9.7% in Q4.
- Dupixent sales accelerated in Q4 with a 25% increase in prescriptions in the US market due to direct-to-consumer campaigns
Merck announced full-year 2004 earnings per share of $2.61, with fourth-quarter EPS of 50 cents. Merck reaffirmed its 2005 EPS guidance range of $2.42 to $2.52, and anticipated first-quarter 2005 EPS of 54 to 58 cents. Merck increased its reserve for future legal defense costs related to VIOXX litigation to $675 million. Merck's major product franchises, including Singulair, Fosamax, Cozaar/Hyzaar, Zocor, and the cholesterol-lowering drugs Zetia and Vytorin in partnership with Schering-Plough, remained market leaders.
Merck announced earnings per share of $2.92 for full-year 2003 and $0.62 for the fourth quarter of 2003. Sales increased 5% for the full year but decreased 7% for the fourth quarter due to Merck's new US distribution program. Merck reaffirmed its 2004 EPS guidance of $3.11 to $3.17. Key products like Zocor, Fosamax, Cozaar, Singulair and Vioxx remained top sellers, though some faced increased competition or effects from the new distribution program. Merck's research pipeline includes potential new vaccines and treatments for conditions like diabetes and Alzheimer's.
- Merck reported first quarter 2005 earnings per share of $0.62, down from $0.73 in the first quarter of 2004. However, sales of newer products grew and cost management led expenses to be lower than expected.
- For 2005, Merck anticipates EPS between $2.44-$2.52 and second quarter EPS of $0.60-$0.64. Several new product approvals and indications were announced in the first quarter.
- Merck's major product franchises like Singulair, Cozaar, Fosamax, and Zocor remain top sellers. Late-stage vaccines and other pipeline candidates are progressing on schedule.
Merck announced second-quarter 2004 earnings per share of 79 cents, level with the prior year. Worldwide sales grew 9% to $6 billion for the quarter. Merck reaffirmed its full-year 2004 EPS guidance of $3.11 to $3.17 and anticipated third-quarter EPS of 80 to 84 cents. Key pipeline developments included MK-431 entering Phase III trials for diabetes and positive data for ROTATEQ, Merck's investigational rotavirus vaccine. Merck continued strategic licensing deals, including collaborations for diabetes compound muraglitazar and cancer compound VX-680.
Merck announced its 2006 financial results, reporting solid revenue growth. Key points:
- Vaccines, SINGULAIR, ZETIA and VYTORIN drove full-year revenue increases. Launches of GARDASIL and JANUVIA provide a platform for continued growth in 2007.
- Full-year 2006 earnings per share were $2.52 excluding certain charges, and $2.03 as reported. Fourth-quarter earnings per share were $0.50 and $0.22, respectively.
- Merck reaffirmed its guidance for 2007 earnings per share between $2.51-$2.59 excluding charges, and $2.36-$2.49 as reported.
Merck announced third-quarter 2004 earnings per share of 60 cents, including a 25 cent unfavorable impact from withdrawing Vioxx worldwide. Merck anticipates fourth-quarter EPS of 48-53 cents and full-year 2004 EPS of $2.59-$2.64 due to withdrawing Vioxx. Several drug trials showed positive results and new products like Vytorin were launched, but Vioxx sales of $2.5 billion last year will significantly impact finances. Merck is redeploying resources and finding other growth areas.
Merck announced first-quarter 2004 earnings per share of $0.73, a 7% increase over the previous year. Worldwide sales were $5.6 billion for the quarter. Merck reaffirmed its full-year 2004 EPS guidance of $3.11 to $3.17. Key events in the quarter included acquiring Aton Pharma and completing the acquisition of Banyu Pharmaceutical, strengthening Merck's global position. Sales of major products like Zocor, Fosamax, Cozaar, and Singulair increased compared to the previous year.
Danish pharmaceutical company Novo Nordisk (founded in 1923) is a global leader in diabetes care with 52% of the insulin market share. As of November 2008, it had a market capitalization of $33 billion. Novo Nordisk focuses on diabetes care, haemostatic agents, hormone replacement, growth disorders, obesity, and inflammation therapies. It has a strong pipeline of new drugs for diabetes care, including two new insulins due in early 2009. The company aims to increase its market share in diabetes care and expand into related areas like obesity and inflammatory diseases.
Merck announced second-quarter 2005 earnings per share of 33 cents, down from 79 cents in 2004 due to a $640 million net tax charge. Excluding this charge, EPS were 62 cents. Worldwide sales were $5.5 billion, down 9% from 2004 due to the Vioxx withdrawal. Merck anticipates third-quarter EPS of 61-65 cents and full-year 2005 EPS of $2.44-$2.52 excluding the tax charge. Major drug franchises like Singulair, Fosamax, Cozaar, and Zocor maintained or grew market share. Merck's vaccine and diabetes drug pipelines progressed with regulatory submissions.
The document provides an overview of Sanofi's Q4 and full year 2021 results. Key highlights include:
- Global sales grew 7.1% in 2021 to €37.7 billion, driven by strong growth of Specialty Care which became the largest business unit.
- Dupixent sales increased 53% in Q4 to €1.55 billion, with growth across all regions. Prurigo nodularis phase 3 trials showed significant improvements.
- Vaccines sales declined 6.5% in Q4 due to earlier seasonal flu shipments, while full year flu vaccine sales reached record levels in 2021.
- Planned launches of sutimlimab for CAD in 2022 and olp
Pharmaceutical Industry Financial Analysisjpotts89
This is a presentation that was completed for my Corporate Finance class my senior year with a team of three other students. I did my valuation of Eli Lilly.
Genzyme reported solid financial results for the first quarter of 2009, with revenue rising 4% to $1.15 billion compared to the same period last year. Net income increased 35% and non-GAAP net income grew 10%. Genzyme reaffirmed its revenue and earnings guidance for 2009. The company expects continued growth driven by new product launches and approvals over the coming months.
The document discusses mergers and acquisitions (M&A) in the pharmaceutical industry. It outlines problems faced by Indian pharmaceutical companies like pricing controls and fragmented markets. It also discusses trends in M&A activity, with multinational companies acquiring Indian firms for access to generic drugs and manufacturing. Reasons for M&A include expanding into new markets, cutting costs, and gaining access to biologics with longer commercial lifespans. The document also lists other inorganic growth strategies used in the industry like strategic alliances, outsourcing, and co-marketing agreements.
GlaxoSmithKline (GSK) is a global pharmaceutical company headquartered in London. It has a portfolio of products for major disease areas such as asthma, cancer, infections and mental health. GSK was formed in 2000 through the merger of Glaxo Wellcome and SmithKline Beecham. It has operations in over 120 countries and sells products in over 150 countries. Its top competitors include Johnson & Johnson, Pfizer, Merck and AstraZeneca.
Aromatics Manufacturing Market Analysis by 2020 Research Report Covers Updated Data Considering Post Impact of Covid-19 on Share, Size and Future Demand
Merck reported strong financial results for the first quarter of 2007. Worldwide sales increased 7% compared to the first quarter of 2006. Key products such as SINGULAIR, vaccines including GARDASIL, and the cholesterol drugs ZETIA and VYTORIN drove company growth. Merck anticipates second quarter EPS between $0.67-$0.71 and reaffirmed its full-year 2007 EPS guidance range.
Merck announced third quarter 2003 earnings per share of $0.83, a 6% increase over 2002. Net income was $1.865 billion. Merck will reduce costs by eliminating 4,400 positions and implementing a new U.S. wholesaler distribution program. As a result of these actions, full year 2003 EPS is expected to be $2.90 to $2.95. Major products like Zocor, Fosamax, Cozaar, and Singulair saw sales increases, but did not meet targets. Merck completed the spin-off of Medco and increased ownership of Banyu to 99%.
The document provides an overview of the global and Indian pharmaceutical industries. It discusses key metrics like global sales, R&D spending, mergers and acquisitions, and future projections. The global pharmaceutical market experienced slow growth in 2012 due to many blockbuster drug patents expiring, but sales are expected to steadily increase to $895 billion by 2018. The Indian pharmaceutical market is also growing, driven by factors like increasing demand from emerging markets, greater acceptance of medical treatment, and a growing elderly population in India.
GSK reported financial results for the third quarter of 2008. Revenue declined 3% due to generic competition impacting major pharmaceutical brands in the US, though other areas like vaccines and emerging markets saw growth. Earnings per share declined 9% due to higher costs of sales from generic competition. The company increased its dividend by 8% and continued share repurchases while pursuing strategic priorities like diversifying its business and expanding in emerging markets and consumer healthcare.
- Cardinal Health reported third-quarter results with revenue increasing 8% to nearly $22 billion and a loss of $5 million or $0.01 per share due to a $600 million litigation reserve.
- On a non-GAAP basis, earnings from continuing operations increased 10% to $390 million or 16% to $0.96 per share.
- The company closed the $3.3 billion sale of its PTS business and repurchased $1.4 billion in shares during the quarter.
- Cardinal Health reported a 5% increase in third quarter revenue to $22.9 billion and GAAP EPS of $1.02, compared to a $0.01 loss in the prior year. Non-GAAP EPS increased 13% to $1.08.
- Revenue growth was driven by the healthcare supply chain medical segment and clinical and medical products sector. However, the supply chain pharmaceutical segment faced challenges including customer disruption and slower market growth.
- The company reaffirmed its fiscal year 2008 non-GAAP EPS guidance range of $3.75 to $3.85.
This document discusses Sanofi's Q4 and full year 2018 results. It provides an agenda for the presentation and highlights key metrics:
- Q4 sales grew 4.7% at CER to €8.997 billion and EPS grew to €1.10. Full year sales grew 2.5% at CER to €34.463 billion.
- Specialty care sales grew 16.1% in Q4 driven by rare disease, MS, immunology and oncology franchises. Vaccines sales grew 9.7% in Q4.
- Dupixent sales accelerated in Q4 with a 25% increase in prescriptions in the US market due to direct-to-consumer campaigns
Cardinal Health reported second quarter results for fiscal year 2009, with revenue increasing 8% to $25 billion compared to the same period last year. GAAP earnings from continuing operations declined 2% to $319 million, while non-GAAP earnings increased 2% to $335 million. Both the Healthcare Supply Chain Services and Clinical and Medical Products segments saw revenue growth, with Healthcare Supply Chain Services segment profit increasing 6% and Clinical and Medical Products segment profit growing 16%. The company reaffirmed its full-year non-GAAP EPS guidance of $3.50 to $3.60.
Goodrich Corporation announced strong financial results for the second quarter of 2006, with income from continuing operations increasing 30% over the second quarter of 2005. Sales increased 10% to $1.48 billion due to growth across all segments and market channels. Based on continued strong commercial airplane aftermarket sales, Goodrich increased its full year 2006 sales outlook to $5.75-$5.85 billion and net income per share outlook to $3.40-$3.55. The company also announced several business highlights including expansions of facilities in Scotland and Singapore.
Goodrich Corporation announced strong financial results for the second quarter of 2006, with income from continuing operations increasing 30% over the second quarter of 2005. Sales increased 10% to $1.48 billion due to growth across all segments and market channels. Based on continued strong commercial airplane aftermarket sales, Goodrich increased its full year 2006 sales outlook to $5.75-$5.85 billion and net income per share outlook to $3.40-$3.55. The company also announced several business highlights including expansions of facilities in Scotland and Singapore.
This document is a press release from Cardinal Health announcing their fiscal 2008 results and fiscal 2009 outlook. Some key points:
- Fiscal 2008 revenue increased 5% to $91 billion and GAAP EPS increased 76% to $3.64. Non-GAAP EPS grew 11% to $3.80.
- The company is exploring a potential spin-off of their clinical and medical products businesses into a separate publicly traded company.
- For fiscal 2009, revenue is expected to grow 6-7% while non-GAAP EPS is expected to be between $3.80-$3.95, though investments in R&D and IT may impact near-term growth.
- Challenges in the
This document provides information about the pharmaceutical industry and some major pharmaceutical companies. It discusses the history and development of the pharmaceutical industry. It also discusses key aspects like research and development, costs of innovation, industry revenues, and some of the largest companies by revenue and sales. Major companies discussed include Pfizer, Merck & Co., Ranbaxy Laboratories, Torrent Pharmaceuticals, and others.
bristol myerd squibb Financial Results for the Fourth Quarter and Twelve Mont...finance13
Bristol-Myers Squibb reported strong financial results for the fourth quarter and full year 2008, driven by growth of key franchises and products. Fourth quarter sales increased 4% year-over-year to $5.2 billion. Gross profit margins improved due to cost improvements and favorable product mix. The company provided 2009 GAAP EPS guidance of $1.58 to $1.73 and non-GAAP EPS guidance of $1.85 to $2.00, expecting revenue and earnings growth. Bristol-Myers Squibb continued progress on productivity initiatives and business development deals to supplement its pipeline.
UnitedHealth Group reported record first quarter results for 2006, with net earnings of $0.63 per share, up 15% from the first quarter of 2005. Revenue increased 54% to over $17 billion compared to the same period last year. The company also increased its full year 2006 earnings per share outlook to a range of $2.88 to $2.92, representing growth of 22-24% over 2005. Strong growth was driven by the company's businesses serving seniors, commercial services including consumer-driven healthcare plans, and specialty businesses.
bristol myerd squibb Bristol-Myers Squibb Company Reports Second Quarter 2008...finance13
Bristol-Myers Squibb reports strong financial performance in Q2 2008 with 16% growth in global net sales and 24% increase in pre-tax earnings. They reaffirmed 2008 EPS guidance and announced plans to achieve an additional $1 billion in productivity savings by 2012. Key drivers of growth were double-digit sales increases of drugs such as Plavix, Abilify, and the HIV/Hepatitis portfolio. Bristol-Myers Squibb also submitted regulatory filings for the diabetes drug Onglyza in the US and Europe.
Sanofi reported Q3 2019 results with total sales of €9.5 billion, up 0.5% year-over-year at constant exchange rates. Key highlights included continued strong growth of Dupixent driven by increased uptake and geographic expansion. Vaccine sales were lower due to the timing of flu season. Primary care sales declined due to pricing pressures. Emerging markets sales increased 9.7% led by growth in China, Latin America, and Eurasia. Sanofi expects a sales decline in China in Q4 due to price adjustments from the national volume-based procurement program.
This document provides an agenda and key highlights from Sanofi's Q1 2019 results presentation:
- The presentation reviews Sanofi's Q1 2019 financial results, with sales increasing 4.2% and EPS growth of 9.4% driven by launches and diminishing LoEs in the US.
- Several business units saw double-digit growth including Genzyme, Vaccines, and China/Emerging Markets, partially offset by lower sales of Diabetes and Established Products.
- The pipeline highlights potential approvals over the next year including Dupixent in additional indications and geographies as well as Zynquista and Cemiplimab.
Hem recommend this pharma scrip on Q4FY15 operating profits of Rs495.87crIndiaNotes.com
Zydus Cadila is a fully integrated healthcare company with strengths across the pharmaceutical value chain. In the recent quarter, the company's revenues grew 16% to Rs. 2288 crores and operating profit grew 38.3% to Rs. 495.87 crores. Key growth drivers include the US business which grew 56% and the company's global expansion efforts through new product filings and launches across geographies. The report recommends buying the stock with a target price of Rs. 2150 based on attractive valuation and expectations for double-digit growth from new technologies and global expansion.
bristol myerd squibb Bristol-Myers Squibb Company Reports First Quarter 2008 ...finance13
Bristol-Myers Squibb reported strong financial results for the first quarter of 2008, with net sales growing 20% driven by growth in the pharmaceutical business. Earnings from continuing operations grew 51% to $1.29 billion compared to the first quarter of 2007. The company reaffirmed its 2008 earnings guidance and announced plans to file an IPO to sell approximately 10% of its Mead Johnson Nutritionals business. Key drugs such as Abilify, Plavix, and Baraclude saw sales increases in the double-digit percentages compared to the first quarter of 2007.
Dr. Reddys Q3 FY10 Press Meet PresentationBiswajit Dash
- Dr. Reddy's reported revenues of Rs. 1,730 crores for Q3 FY10, a 9% growth in revenues for the first 9 months of FY10.
- EBITDA for Q3 was Rs. 367 crores, with a 43% growth in adjusted PAT for the first 9 months.
- The company reported impairment charges of Rs. 109 crores related to goodwill and intangibles of its betapharm business in Germany.
This document contains slides from an American Airlines presentation given by Gerard Arpey, Chairman & CEO. It discusses several topics:
1) Safe harbor statements noting forward-looking statements are subject to risk factors.
2) Rising oil prices, showing a graph of prices rising from $58 in 2007 to over $134 in mid-2008, offsetting the company's $6 billion in cost reductions.
3) New baggage and change fees announced to offset rising fuel costs, expected to generate several hundred million dollars.
This document contains a presentation by Beverly Goulet, Vice President of Corporate Development and Treasurer of an unnamed company, covering various topics:
1) It includes statements regarding forward-looking comments being subject to risk factors that could affect actual results.
2) Slide 3 discusses the company's fuel hedging for 3Q08 and full year 2008.
3) Slide 20 shows the company's net debt levels from 2002-2008, which have increased significantly.
The presentation provides an overview of the company's financial performance, fuel costs and hedging, debt levels, and other key metrics.
Credit Suisse Group Global Airline Conference Presentationfinance11
This document contains a presentation by Beverly Goulet, Vice President of Corporate Development and Treasurer of an unnamed company. The presentation includes slides on the company's 3Q08 results showing a net loss compared to earnings in the prior year. Additional slides provide details on oil prices, the company's hedging strategy, total debt levels, planned 2009 capacity reductions, new and modified fees, investments in the future, and alliances. The presentation contains forward-looking statements and refers readers to SEC filings and a webcast for further information.
- The document is a letter informing stockholders about AMR Corporation's 2004 Annual Meeting of Stockholders to be held on May 19, 2004 at the American Airlines Training & Conference Center in Fort Worth, Texas.
- Stockholders are invited to attend and vote on items of business including electing 12 directors, ratifying the selection of Ernst & Young LLP as independent auditors, and considering two stockholder proposals.
- Instructions are provided for stockholders on how to vote, including voting online, by telephone, or by returning a proxy card, and details on admission to the annual meeting by ticket.
The document is a notice from AMR Corporation inviting stockholders to attend its 2005 Annual Meeting of Stockholders on May 18, 2005 at 8:00am at the American Airlines Training & Conference Center in Fort Worth, Texas. It provides information on the items of business to be voted on, including the election of directors, ratification of auditors, and a stockholder proposal. Stockholders of record as of March 21, 2005 are entitled to vote. Admission to the meeting will require an admission ticket or proof of stock ownership.
The document is a notice from AMR Corporation inviting shareholders to attend its 2006 Annual Meeting of Stockholders on May 17, 2006. It provides information on voting procedures and requirements for attendance. Shareholders as of March 20, 2006 are entitled to vote. The meeting will be held at the American Airlines Training & Conference Center in Fort Worth, Texas, where admission will require a ticket or proof of stock ownership.
AMR 2006 Shareholders’ Meeting Voting Resultsfinance11
All 13 nominees for Director were elected at American Airlines' 2006 stockholders meeting on May 17, 2006. Over 93% of shares were voted, with 176 million shares represented. Ernst & Young was ratified as the independent auditor with over 99% of votes in favor. Proposals relating to term limits for outside directors, majority vote requirements, separation of CEO/Chairman roles, and cumulative voting all failed to pass, receiving only around 30% support or less.
The document is a letter inviting stockholders to attend AMR Corporation's annual meeting on May 16, 2007. It provides details on the meeting location, eligibility to vote, and how to submit a proxy vote by internet, phone, or mail. Stockholders are encouraged to vote as their input is important. Management will provide updates and answer questions at the meeting.
AMR 2007 Shareholders’ Meeting Voting Resultsfinance11
At the American Airlines 2007 stockholders meeting on May 16, 2007:
- All 12 nominees for the board of directors were elected, with over 90% of shares voted.
- Stockholders ratified the selection of Ernst & Young LLP as independent auditors for 2007 with over 98% of votes for.
- Stockholder proposals relating to cumulative voting, special shareholder meetings, performance based stock options, and advisory resolution to ratify executive compensation all failed to pass, receiving less than 55% of votes.
The document is a notice for the annual stockholder meeting of AMR Corporation to be held on May 21, 2008. It provides details on the meeting such as time, location, items of business to be addressed which include electing directors, ratifying auditors, and considering four stockholder proposals. It also covers eligibility to attend, requirements to vote, and quorum details. Stockholders are encouraged to vote by proxy in advance of the meeting.
AMR 2008 Shareholders’ Meeting Voting Resultsfinance11
1. All 13 nominees for Director were elected at the 2008 Stockholders Meeting with a minimum of 181,494,763 votes for.
2. The ratification of Ernst & Young LLP as independent auditors for 2008 was approved with 98.45% of votes for and 1.55% against.
3. A stockholder proposal relating to cumulative voting for election of directors was rejected with 30.80% of votes for and 69.20% against.
AMR Corporation had a very successful 1998 financially. The company reported record net earnings of $1.3 billion, a 33.4% increase over 1997. AMR's strong performance was driven by robust demand for air travel and lower fuel prices, enabling the airline businesses to increase revenues without significant fare discounting. AMR also made progress across its key strategic objectives - growing its airline networks, improving customer service, and expanding The Sabre Group's technology solutions business.
This document is the annual report for AMR Corporation for the year 2000. It discusses the company's improved financial performance for the year, including net earnings of $752 million compared to $543 million in 1999. It summarizes strategic initiatives undertaken in 2000 related to safety, service, product, technology, culture, and network - the six areas of the company's Airline Leadership Plan. These initiatives include fleet expansion, onboard comfort enhancements, technology investments, employee programs, and network growth through regional jets and international partnerships. The report also outlines major acquisitions announced in 2001 that will significantly expand American Airlines' fleet and network by acquiring assets from TWA, US Airways, and a stake in DC Air.
The document discusses the challenges American Airlines faced in 2001, including a slowing economy before September 11th and the devastating impacts of the terrorist attacks on September 11th and the loss of Flight 587 in November. It describes the cost-cutting measures American took, such as reducing capacity, retiring aircraft, cutting capital and operating expenses. It highlights that despite the difficulties, American completed the acquisition and integration of TWA and continued its More Room Throughout Coach campaign. The letter closes by stating that while 2001 brought great challenges, American's values and principles will guide it going forward.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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1. News Release
______________________________________________________________________________
Media Contact: Amy Rose Investor Contact: Graeme Bell
(908) 423-6537 (908) 423-5185
Merck Announces Strong Financial Results for the Second Quarter 2006
• Company Posts Second-Quarter Earnings Per Share (EPS) of 73 Cents, Excluding
Restructuring Charges; Reported Second-Quarter EPS of 69 Cents
• Results Driven by Strong Performance of ZOCOR, SINGULAIR, and Vaccines Plus
Contributions from Partnerships, Partially Offset by Acquired Research Charge
• Merck Raises Full-Year 2006 Guidance and Now Anticipates EPS Range of $2.40 to
$2.48, Excluding Restructuring Charges; Reported 2006 EPS Range of $2.10 to $2.24
• U.S. Food and Drug Administration (FDA) Approved GARDASIL; Advisory Committee
on Immunization Practices (ACIP) Unanimously Voted to Recommend that GARDASIL
be Administered to All 11- and 12-Year-Old Females and to Females Ages 13 to 26 Not
Previously Vaccinated
WHITEHOUSE STATION, N.J., July 24, 2006 – Merck & Co., Inc. today announced that
earnings per share (EPS) for the second quarter of 2006 were $0.73, excluding a net charge for
site closures and position eliminations primarily associated with the global restructuring
announced in November 2005. Including the impact of the net restructuring charge, reported
EPS for the second quarter were $0.69 compared to $0.33 for the second quarter of 2005. Net
income was $1,499.3 million, compared to $720.6 million in the second quarter of last year.
EPS and net income for the second quarter of 2006 were negatively affected by a $296 million
acquired research charge related to the GlycoFi, Inc. acquisition. EPS and net income for the
second quarter of 2005 were negatively impacted by a net tax charge of $640 million primarily
related to the repatriation of foreign earnings in accordance with the American Jobs Creation
Act.
Worldwide sales were $5.8 billion for the quarter, compared to $5.5 billion for the second
quarter of 2005 – an increase of 6%. Global sales performance includes a 1% unfavorable
effect from foreign exchange for the quarter.
“Our strong second-quarter performance keeps us on track with the commitments we
made in December,” said Richard T. Clark, chief executive officer and president.
“The results demonstrate that we can deliver growth while we make the fundamental
changes necessary to return Merck to an industry leadership position. We announced two
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2. 2
major product approvals, GARDASIL and ZOSTAVAX, and presented important new clinical
data on VYTORIN, JANUVIA and ZOLINZA that underscore the strength of our core business.”
Materials and production costs increased 25% for the second quarter of 2006, including
$168 million recorded in the second quarter for costs associated with the global restructuring
program, primarily related to accelerated depreciation and asset impairment costs. Excluding
these costs, materials and production increased 10% for the quarter. The gross margin was
75.0% which reflects a 2.9 percentage point unfavorable impact relating to the restructuring
costs as noted above.
Marketing and administrative expenses were $1,734 million, a decrease of 1% in the
second quarter of 2006. The results reflect the increase in activities to support the three
recently-approved vaccines, offset by reduced spending in support of ZOCOR.
Research and development expenses were $1,173 million for the quarter, representing
an increase of 24%, including $296 million recorded in the second quarter for acquired research
resulting from the GlycoFi acquisition.
Restructuring costs were a net credit of $7 million for the quarter representing separation
and other related costs associated with the Company’s restructuring program announced in
November 2005, offset by gains on sales of facilities in connection with the program. In the
second quarter of 2006, the Company eliminated approximately 500 positions in addition to the
2,900 announced in previous quarters.
Full-Year 2006 EPS Guidance
Merck anticipates full-year 2006 EPS of $2.40 to $2.48, excluding the restructuring
charges related to site closures and position eliminations. Merck anticipates reported full-year
2006 EPS of $2.10 to $2.24. Please see pages 9-10 of this news release for details of Merck’s
full-year 2006 financial guidance.
Second-Quarter Performance Highlights
Worldwide sales of SINGULAIR, a once-a-day oral medicine indicated for the treatment
of chronic asthma and the relief of symptoms of allergic rhinitis, were strong, reaching $950
million for the second quarter, representing growth of 30% over the second quarter 2005. Sales
for the first six months were $1.8 billion, a 20% increase over the comparable 2005 period.
SINGULAIR continues to be the number one prescribed product in the United States respiratory
market.
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3. 3
ZOCOR, Merck’s statin for modifying cholesterol, achieved worldwide sales of $990
million in the second quarter, representing a decrease of 14% over the second quarter of 2005.
Sales for the first six months were $2.1 billion, a 9% decrease compared to the first six months
of 2005. Merck’s U.S. marketing exclusivity for ZOCOR expired on June 23, 2006, and the
Company’s previously signed authorized generic agreement with Dr. Reddy’s Laboratories went
into effect. Merck continues to offer branded ZOCOR and to manufacture simvastatin for
branded ZOCOR, VYTORIN, the Company’s investigational compound MK-0524B and Dr.
Reddy’s authorized generic.
As reported by the Merck/Schering-Plough partnership, global sales of ZETIA and
VYTORIN in the aggregate reached $973 million for the second quarter as compared to $507
million for the same period last year. Combined new prescriptions attained more than 15% of
the U.S. lipid-lowering market, according to the most recent monthly IMS Health data.
Global sales of ZETIA, the cholesterol-absorption inhibitor also marketed as EZETROL
outside the United States, reached $476 million in the second quarter, an increase of 51%
compared with the second quarter of 2005. Also in the second quarter, ZETIA was approved by
the FDA for co-administration with fenofibrate, offering a new treatment alternative for patients
with mixed hyperlipidemia. Sales for the first six months were $891 million, an increase of 38%
over the comparable 2005 period.
Global sales of VYTORIN, also developed and marketed by the Merck/Schering-Plough
partnership, reached $497 million in the second quarter. VYTORIN, marketed outside the
United States as INEGY, is the first single cholesterol treatment to provide LDL cholesterol
lowering through dual inhibition of cholesterol production and absorption. Sales for the first six
months were $876 million.
In the second quarter, Merck/Schering-Plough announced new data from two clinical
trials. Data presented at the International Symposium on Atherosclerosis meeting showed that
VYTORIN was significantly more effective than Crestor in reducing LDL cholesterol across all
study dose comparisons and an analysis of the data showed that, when averaged across all
study doses, VYTORIN brought more patients at high risk of cardiovascular disease to LDL
cholesterol levels less than 70 mg/dl compared to Crestor. Also in June, new data released at
the American Diabetes Association’s (ADA) 66th Annual Scientific Sessions showed that at the
recommended usual starting doses VYTORIN was superior to Lipitor in the lowering of LDL
cholesterol in patients with type 2 diabetes.
The Company records the results from its interest in the Merck/Schering-Plough
partnership in equity income from affiliates.
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4. 4
Global sales of Merck's antihypertensive medicines, COZAAR and HYZAAR*, were $784
million for the second quarter, comparable to the second quarter 2005. Sales for the first six
months were $1.5 billion, a 1% decrease compared to the first six months of 2005.
COZAAR/HYZAAR remains the number one branded AIIA in Europe and number two branded
AIIA in the United States.
Global sales for FOSAMAX and FOSAMAX PLUS D (marketed as FOSAVANCE
throughout the European Union) were $821 million for the second quarter, representing a
decrease of 4% compared to the second quarter 2005. U.S. sales for the quarter increased 8%.
Sales outside of the United States were affected by the availability of generic alendronate
sodium products in several markets. Global sales for the first six months were $1.6 billion, a 3%
decrease over the comparable 2005 period. FOSAMAX and FOSAMAX PLUS D together
remain the most-prescribed medicine worldwide for the treatment of postmenopausal, male and
glucocorticoid-induced osteoporosis.
Total sales of Merck’s other promoted medicines and vaccines were $1.6 billion for the
second quarter, representing growth of 8% as compared with the second quarter of 2005.
These products treat or prevent a broad range of medical conditions, including infectious
disease, glaucoma, migraine, arthritis and pain. Vaccine sales were $349 million for the
quarter, representing growth of 41%.
Merck earns ongoing revenue based on sales of products that are associated with its
alliances, the most significant of which is AstraZeneca LP. Revenue from AstraZeneca LP
recorded by Merck was $418 million in the second quarter and $798 million for the first six
months of the year.
Global sales for ROTATEQ, Merck's vaccine to help protect children against rotavirus
gastroenteritis, were $31 million for the quarter. The vaccine is now covered by the majority of
managed care plans. In April, ROTATEQ was made available in the Centers for Disease
Control and Prevention's (CDC) Vaccine for Children (VFC) program. VFC provides vaccines to
children who are Medicaid-eligible, uninsured, underinsured or Native American. Eligible
children receive the recommended vaccines through the government-funded VFC once the
CDC contracts for the purchase of the vaccines.
In addition to the United States, ROTATEQ is approved in Mexico, Australia and the
European Union (EU). Applications for licensure of ROTATEQ have been filed in more than
100 countries. Vaccines sold in most major European markets are sold through the Company’s
joint venture, Sanofi Pasteur MSD.
* COZAAR and HYZAAR are registered trademarks of E.I. DuPont de Nemours & Company, Wilmington, Del.
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5. 5
On June 8, the FDA approved GARDASIL to prevent cervical cancer and vulvar and
vaginal pre-cancers caused by human papillomavirus (HPV) types 16 and 18 and to prevent
low-grade and pre-cancerous lesions and genital warts caused by HPV types 6, 11, 16 and 18.
GARDASIL is approved for 9- to 26-year-old girls and women. U.S. sales for GARDASIL, which
entered into distribution on June 19, were $10 million for the quarter.
As previously disclosed, the Company has entered into a license agreement and
collaboration with CSL Limited relating to technology used in GARDASIL, as well as other
agreements with third parties, including certain academic and research institutions, relating to
GARDASIL. These agreements include a previously-disclosed, cross-license and settlement
agreement with GlaxoSmithKline for certain patent rights related to HPV vaccines. As a
consequence of these agreements, the Company will pay royalties on the worldwide sales of
GARDASIL of approximately 24% to 26% in the aggregate.
On June 29, the CDC’s ACIP voted unanimously to recommend that girls and women 11
to 26 years old be vaccinated with GARDASIL. The Committee recommended that GARDASIL
be administered to 11- and 12-year-old females and to females aged 13 to 26 who have not
previously been vaccinated, and that nine- and 10-year-old females be vaccinated with
GARDASIL at the discretion of their physicians. The ACIP also voted to include GARDASIL in
the VFC program.
Also on June 29, the ACIP unanimously voted to recommend that all children 4 to 6
years of age receive a second dose of varicella (chickenpox) vaccine. Merck's VARIVAX and
PROQUAD are the only vaccines to protect against chickenpox in the United States. The ACIP
also voted to recommend that children, adolescents and adults who previously received one
dose of varicella vaccine should receive a second dose. The ACIP voted to include the second
dose of chickenpox vaccine in the VFC program.
On May 25, the FDA approved ZOSTAVAX for prevention of herpes zoster (shingles) in
individuals 60 years of age and older. It was also approved by regulatory authorities in the EU
and in Australia in May. ZOSTAVAX is the first and only medical option for the prevention of
shingles.
The Company announced on July 11 that the FDA approved EMEND for the prevention
of postoperative nausea and vomiting (PONV) as a single 40 mg oral dose given within three
hours prior to anesthesia. The approval of EMEND, an NK1 antagonist, represents the
availability of the first new class of therapy for the management of PONV in over 10 years.
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6. 6
Merck’s U.S. sales of PROSCAR for the second quarter were $89 million. The
Company also noted that PROSCAR, the Company’s product to treat symptomatic benign
prostate enlargement, lost patent protection in the United States on June 19. Merck has in
place an agreement with Dr. Reddy’s Laboratories which will allow them to distribute and sell a
generic version of PROSCAR.
Pipeline Update
In June, Merck announced that the New Drug Application (NDA) for ZOLINZA
(vorinostat), an investigational histone deacetylase inhibitor, had been accepted for priority
review by the FDA for the treatment of advanced cutaneous T-cell-lymphoma (CTCL). Merck
anticipates FDA action on the NDA by early October. In addition, results of the pivotal Phase IIb
open-label study in patients with advanced, refractory CTCL were presented at the 33rd annual
meeting of the American Society of Clinical Oncology. Study results showed 30 percent of the
patients responded to treatment with ZOLINZA as measured by the objective response rate
(complete and partial responses). CTCL is a type of non-Hodgkin's lymphoma in which some of
the body's white blood cells become malignant.
Merck’s new drug application for MK-0517, the intravenous (IV) prodrug formulation of
EMEND for the treatment of chemotherapy-induced nausea and vomiting (CINV), was accepted
for standard review by the FDA in June.
In data released at the ADA in June, JANUVIA, Merck’s investigational oral, once-daily
drug for treating patients with type 2 diabetes, was shown to significantly reduce blood sugar
(glucose) levels when used as monotherapy or as an add-on treatment to metformin or
pioglitazone. In a head-to-head study in patients with type 2 diabetes who had inadequate
glucose control on metformin monotherapy, the addition of JANUVIA was non-inferior to the
addition of glipizide (a sulfonylurea) in significantly reducing blood sugar levels at 52 weeks
versus baseline. Patients on JANUVIA had a significantly lower incidence of hypoglycemia vs.
glipizide.
Merck anticipates FDA action on the NDA for JANUVIA by mid-October. If approved,
JANUVIA would potentially be the first in a new class of oral medications (DPP-4 inhibitors) that
enhances the body’s own ability to lower blood sugar when it is elevated. The Company is
moving forward as planned with filings in countries outside of the United States.
Merck continues its strategy of establishing strong external alliances and pursuing
targeted acquisitions to complement our substantial internal research capabilities.
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7. 7
In May, Merck acquired Abmaxis, Inc., a privately-held biopharmaceutical company
dedicated to the discovery and optimization of monoclonal antibody (MAb) products for human
therapeutics and diagnostics. And in June, Merck acquired GlycoFi, Inc., a privately-held
biotechnology company that is a leader in the field of yeast glycoengineering and optimization of
biologic drug molecules. While each of the acquisitions has independent scientific merits, the
combination of the GlycoFi and Abmaxis platforms is potentially synergistic, giving Merck the
ability to operate across the entire spectrum of therapeutic antibody discovery, development and
commercialization.
VIOXX Update
This update supplements information previously provided by the Company.
Commencing with the Company's report on Form 10-Q for the first quarter of 2006, the
Company generally intends to provide updates on VIOXX litigation through its periodic filings
with the Securities and Exchange Commission (SEC). Information regarding scheduled product
liability trials in 2006 can be found at www.merck.com.
As previously disclosed, individual and putative class actions have been filed against the
Company in state and federal courts alleging personal injury and/or economic loss with respect
to the purchase or use of VIOXX. A number of these actions are coordinated in separate
proceedings in a multidistrict litigation in the U.S. District Court for the Eastern District of
Louisiana (the quot;MDLquot;), New Jersey state court, California state court, Texas state court and
Philadelphia, Pennsylvania. As of June 30, the Company has been served or is aware that it
has been named as a defendant in approximately 14,200 lawsuits, which include approximately
27,100 plaintiff groups alleging personal injuries resulting from the use of VIOXX, and in
approximately 190 putative class actions alleging personal injuries and/or economic loss (all of
the actions discussed in this paragraph are collectively referred to as the quot;VIOXX Product
Liability Lawsuitsquot;). Of these lawsuits, approximately 5,700 lawsuits representing approximately
16,100 plaintiff groups are or are slated to be in the federal MDL and approximately 7,100
lawsuits representing approximately 7,100 plaintiff groups are included in a coordinated
proceeding in New Jersey Superior Court. In addition, as of June 30, approximately 5,800
claimants had entered into Tolling Agreements with the Company, which halt the running of
applicable statutes of limitations for those claimants who seek to toll claims alleging injuries
resulting from a thrombotic cardiovascular event that results in a myocardial infarction or
ischemic stroke.
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8. 8
Earnings Conference Call
Investors are invited to a live Web cast of Merck’s second-quarter earnings conference
call today at 9 a.m. ET, by visiting the Newsroom section of Merck’s Web site
www.merck.com/newsroom/webcast. Institutional investors and analysts can participate in the
call by dialing (706) 758-9927. Journalists are invited to listen by calling (706) 758-9928. A
replay of the Web cast will be available starting at 1 p.m. ET today through 5 p.m. ET on July
31. To listen to the replay, dial (706) 645-9291 or (800) 642-1687 and enter ID # 1224114.
About Merck
Merck & Co., Inc. is a global research-driven pharmaceutical company dedicated to
putting patients first. Established in 1891, Merck discovers, develops, manufactures and
markets vaccines and medicines to address unmet medical needs. The Company devotes
extensive efforts to increase access to medicines through far-reaching programs that not only
donate Merck medicines but help deliver them to the people who need them. Merck also
publishes unbiased health information as a not-for-profit service. For more information, visit
www.merck.com.
Forward-Looking Statement
This press release, including the financial information that follows, contains quot;forward-
looking statementsquot; as that term is defined in the Private Securities Litigation Reform Act of
1995. These statements are based on management’s current expectations and involve risks
and uncertainties, which may cause results to differ materially from those set forth in the
statements. The forward-looking statements may include statements regarding product
development, product potential or financial performance. No forward-looking statement can be
guaranteed, and actual results may differ materially from those projected. Merck undertakes no
obligation to publicly update any forward-looking statement, whether as a result of new
information, future events, or otherwise. Forward-looking statements in this press release
should be evaluated together with the many uncertainties that affect Merck's business,
particularly those mentioned in the cautionary statements in Item 1 of Merck's Form 10-K for the
year ended Dec. 31, 2005, and in its periodic reports on Form 10-Q and Form 8-K, which the
Company incorporates by reference.
###
9. 9
Merck Financial Guidance for 2006
Worldwide sales will be driven by the Company’s major products, including the impact of
new studies and indications. Sales forecasts for those products for 2006 are as follows:
WORLDWIDE
PRODUCT 2006 SALES
SINGULAIR (Respiratory) $3.4 to $3.7 billion
COZAAR/HYZAAR (Hypertension) $2.9 to $3.2 billion
FOSAMAX (Osteoporosis) $2.8 to $3.1 billion
ZOCOR (Cholesterol modifying) $2.6 to $2.9 billion
Other reported products* $6.3 to $6.6 billion
* Other reported products comprise: AGGRASTAT, ARCOXIA, CANCIDAS, COSOPT,
CRIXIVAN, EMEND, INVANZ, MAXALT, PRIMAXIN, PROPECIA, PROSCAR, STOCRIN,
TIMOPTIC/TIMOPTIC XE, TRUSOPT, Vaccines and VASOTEC/VASERETIC.
• Under an agreement with AstraZeneca (AZN), Merck receives revenue at predetermined
percentages of the U.S. sales of certain products by AZN, most notably NEXIUM. In 2006,
Merck anticipates these revenues to be approximately $1.5 to $1.7 billion.
• Equity income from affiliates includes the results of the Merck and Schering-Plough
collaboration combined with the results of Merck’s other joint venture relationships. Equity
income from affiliates is expected to be approximately $2.1 to $2.4 billion for 2006.
• Product gross margin (PGM) percentage is estimated to be approximately 76 to 78% for the
full year 2006. This guidance excludes the portion of the restructuring costs that will be
included in product costs and will affect reported PGM in 2006. This guidance includes the
impact of stock option expense.
• Marketing and administrative expense is anticipated to increase at a high single-digit
percentage growth rate over the full-year 2005 level. The full-year 2005 level excludes the
charge taken in the fourth quarter related solely to future legal defense costs of VIOXX
litigation. The full-year 2005 and 2006 levels exclude the costs associated with position
eliminations in 2005 as well as other restructuring costs pursuant to the Company’s
streamlining of its business processes. The 2006 amount includes the impact of stock
option expense.
• Research and development expense (which excludes joint ventures) is anticipated to
increase at a high single-digit percentage growth rate over the full-year 2005 level.
Research and development expense in 2006 includes the impact of stock option expense
and the second quarter 2006 acquired research expense relating to GlycoFi. The full-year
2006 level excludes the portion of the restructuring costs that are reported in research and
development expense.
• Stock option expense is expected to be approximately $220 million in 2006. The impact of
stock option expense is reflected in the materials and production, marketing and
administrative, and research and development guidance respectively.
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10. 10
• As part of the Company’s restructuring of its operations, additional costs related to site
closings, position eliminations and related costs will be incurred in 2006. The aggregate
2006 pretax expense related to these activities is estimated to be $800 million to $1.0 billion.
• The consolidated 2006 tax rate is estimated to be approximately 26 to 28% (including the net
tax rate impact in the second quarter related primarily to the acquisition of GlycoFi). This
guidance does not reflect the tax rate impact of restructuring costs. The effective tax rate to be
applied to the Company’s restructuring costs is at a higher level than the underlying effective tax
rate guidance.
• Merck plans to continue its stock buyback program in 2006. As of June 30, $7.0 billion
remains under the current buyback authorizations approved by Merck’s Board of Directors.
Given these guidance elements, Merck anticipates full-year 2006 EPS of $2.40 to $2.48,
excluding the restructuring charges related to site closures and position eliminations. Merck
anticipates reported full-year 2006 EPS of $2.10 to $2.24. Merck is not providing third quarter
EPS guidance.
This guidance does not reflect the establishment of any reserves for any potential liability
relating to the VIOXX litigation.
###
11. 11
The following table shows the financial results for Merck & Co., Inc. and subsidiaries for the quarter ended
June 30, 2006, compared with the corresponding period of the prior year.
Merck & Co., Inc.
Consolidated Results
(In Millions Except Earnings per Common Share)
Quarter Ended June 30
(Unaudited)
%
2006 2005 Change
Sales $5,771.7 $5,467.5 6%
Costs, Expenses and Other
Materials and production (1) 1,445.2 1,160.6 25
Marketing and administrative (2) 1,734.0 1,749.5 -1
Research and development (3) 1,172.5 946.8 24
Restructuring and related costs (4) (6.9) 5.8 *
Equity income from affiliates (611.3) (334.1) 83
Other (income) expense, net (70.1) 14.0 *
Income Before Taxes 2,108.3 1,924.9 10
Taxes on Income (5) 609.0 1,204.3
Net Income $1,499.3 $720.6 *
Average Shares Outstanding
Assuming Dilution 2,187.7 2,206.1
Earnings per Common Share
Assuming Dilution $0.69 $0.33 *
* > 100%
(1) Includes restructuring costs of $167.5 million recorded in the second quarter 2006 primarily related to accelerated depreciation and asset
impairment costs associated with Merck’s global restructuring program announced in November 2005 as well as stock option expense of $4.6
million.
(2) Includes stock option expense of $25.3 million recorded in the second quarter 2006.
(3) Research and development expense includes acquired research expense of $296.3 million recorded in the second quarter 2006 resulting from
the acquisition of GlycoFi, Inc. These charges are associated with GlycoFi’s technology platform to be used in research projects for which, at the
acquisition date, technological feasibility had not been established and no alternative future use existed. Also included in the second quarter of
2006 is stock option expense of $11.1 million.
(4) Second quarter 2006 results reflect restructuring costs related to separations as well as gains on the sales of facilities associated with Merck’s
global restructuring program announced in November 2005. Separations associated with other restructuring programs were recorded in the
second quarter of 2005.
(5) The effective tax rate was 28.9% and 62.6% for the second quarter of 2006 and 2005, respectively. Included in the second quarter 2006
effective tax rate is a favorable impact of 0.5 percentage points related to the restructuring charge. Included in the second quarter 2005 is a net tax
charge of $640 million, primarily related to repatriation of foreign earnings under the American Jobs Creation Act (AJCA). This net tax charge
resulted in an increase of 33.3 percentage points to the effective tax rate for the second quarter of 2005.
12. 12
The following table shows the financial results for Merck & Co., Inc. and subsidiaries for the six months
ended June 30, 2006, compared with the corresponding period of the prior year.
Merck & Co., Inc.
Consolidated Results
(In Millions Except Earnings per Common Share)
Six Months Ended June 30
(Unaudited)
%
Change
2006 2005
Sales $11,181.5 $10,829.8 3%
Costs, Expenses and Other
Materials and production (1) 2,787.9 2,432.0 15
Marketing and administrative (2) 3,449.0 3,355.0 3
Research and development (3) 2,114.5 1,793.4 18
Restructuring and related costs (4) 36.8 13.6 *
Equity income from affiliates (1,114.7) (650.4) 71
Other (income) expense, net (170.7) 40.6 *
Income Before Taxes 4,078.7 3,845.6 6
Taxes on Income (5) 1,059.4 1,754.9
Net Income $3,019.3 $2,090.7 44
Average Shares Outstanding
2,189.2 2,208.1
Assuming Dilution
Earnings per Common Share
$1.38 $0.95 45
Assuming Dilution
* > 100%
(1) Includes restructuring costs of $372.5 million recorded during the first six months of 2006 primarily related to accelerated depreciation and asset
impairment costs associated with Merck’s global restructuring program announced in November 2005 as well as stock option expense of $15.2 million.
(2) Includes stock option expense of $87.9 million recorded in the first six months of 2006.
(3) Research and development expense includes acquired research expense of $296.3 million recorded in the second quarter 2006 resulting from the
acquisition of GlycoFi, Inc. These charges are associated with GlycoFi’s technology platform to be used in research projects for which, at the
acquisition date, technological feasibility had not been established and no alternative future use existed. Also included are restructuring costs of $55.4
million recorded in the first quarter of 2006 related to accelerated depreciation associated with Merck’s global restructuring program announced in
November 2005 as well as stock option expense of $35.5 million.
(4) June 2006 year-to-date results reflect restructuring costs related to separations as well as gains on the sales of facilities associated with Merck’s
global restructuring program announced in November 2005. Separations associated with other restructuring programs were recorded in the first six
months of 2005.
(5) The effective tax rate was 26.0% and 45.6% for the first six months of 2006 and 2005, respectively. Included in the first six months 2006 effective
tax rate is a favorable impact of 1.0 percentage points related to the restructuring charge. Included in the second quarter 2005 is a net tax charge of
$640 million, primarily related to repatriation of foreign earnings under the American Jobs Creation Act (AJCA). This net tax charge resulted in an
increase of 16.6 percentage points to the effective tax rate for the first six months of 2005.