MSD reports ‘strong’ first-quarter results

Merck, Sharp and Dohme (MSD) has published its results for the first quarter of the 2007 fiscal year. The firm reported global sales of $5.8 billion (2.89 billion pounds), an increase of seven per cent compared to the same period last year.

Net income rose from $1.52 billion in the first quarter of 2006 to $1.704 billion in the first quarter of 2007, with reported earnings per share rising $0.09 to $0.78.

The company reports that strong sales of a number of its key pharmaceutical products drove the growth seen in this quarter, with the firm citing the performance of Januvia, Singulair, Vytorin and Zetia as examples, while sales of its Gardasil vaccine topped $365 million.

Richard T Clark, chief executive officer and president of MSD, said: “Many of our key products, both established and newly-launched, posted impressive growth and reinforced the underlying strength of our core business.”

He added that the financial results posted this quarter show the company to be on the correct path to retaining the position of market leader in the pharmaceutical industry, while the firm still had much progress to make in realising its future goals.

Last week, MSD reported that the US Food and Drug advisory committee had recommended against granting approval for the firm’s new drug application for Arcoxia (etoricoxib) as a treatment for osteoarthritis at this time.