MSD reports ‘double-digit revenue growth’

Merck, Sharp and Dohme (MSD) has reported its financial results for the third quarter of the year, with the company announcing double-digit growth in revenue and earnings per share.

Global sales rose 12 per cent on the same quarter last year, up to $6.1 billion (2.98 billion pounds), with net income rising to $1.53 billion from $0.94 billion a year ago, including the acquired research charge incurred as a result of the acquisition of NovaCardia.

Adjusted earnings per share rose from $0.51 in third quarter of 2006 to $0.75 in the same quarter this year.

Research and development costs rose 52 per cent year-on-year for the quarter to $1.4 billion.

Richard T Clark, chairman, president and chief executive officer of the company, said: “Our third-quarter results reflect the continued progress Merck is making to deliver on our strategy.

“Merck again delivered strong results, including 12 percent sales growth and double-digit earnings-per-share growth, fuelled by the performance of Singulair, Januvia, Gardasil, Varivax, Vytorin and Zetia.”

He added that the company was pleased to receive regulatory approval of its HIV drug Isentress during the quarter, with this approval highlighting the company’s dedication to developing drugs to address areas of currently unmet medical need.

In July 2007, MSD announced the appointment of Kenneth C Frazier to the role of executive vice-president and president of global human health at the company.