Merck first-quarter net income up, worldwide sales top $5.4 billion

By Lisa Kerner

Erie, Pa., April 20 - Merck & Co., Inc. said first-quarter 2006 worldwide sales rose to $5.41 billion from $5.36 billion for the same period last year, while earnings per share increased to $0.69 for the quarter from $0.62 for the first quarter of 2005.

Net income climbed to $1.52 billion from $1.37 billion in the first quarter of last year.

"Our first-quarter results were driven by the performance of Zocor, Singulair and our vaccines, plus the strong performance of our partnerships and alliances," chief executive officer and president Richard T. Clark said in a news release.

"The strong financial results, along with our late-stage pipeline events, including the approval of Rotateq, the accepted filing of Januvia, and the priority review for Gardasil, demonstrate Merck's solid momentum as we move forward in 2006."

Merck anticipates second-quarter earnings per share of $0.55 to $0.61 and full-year 2006 earnings per share in the range of $2.02 to $2.16.

The company's late-stage development portfolio includes three anticipated filings for 2006 in addition to the two filings made in 2005 that are currently under review by the Food and Drug Administration.

At the end of the first quarter, Merck had five drugs in phase 3 development for diabetes, insomnia, high cholesterol, heart disease and HIV/AIDS.

Merck is a research-driven pharmaceutical company based in Whitehouse Station, N.J.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.