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Home Industry News MSD reports second-quarter financials

MSD reports second-quarter financials

23rd July 2008

Merck, Sharp and Dohme (MSD) has announced its financial results for the second quarter of the 2008 fiscal year and restated its guidance for the full year.

During the quarter, the firm recorded sales of $6.1 billion (3.1 billion pounds), down one per cent from the same time last year.

Net income for the quarter rose from $1.68 billion to $1.77 billion, with second-quarter 2008 GAAP earnings per share of $0.82.

Research and development costs for the quarter rose by 13 per cent on last year’s figure to $1.2 billion.

The company reported strong growth in Januvai (sitagliptin), Isentress (raltegravir) and Cozaar/Hyzaar (losartan).

In 2008, MSD forecasts sales of Cozaar/Hyzaar of $3.5 billion to $3.7 billion.

Richard T Clark, chairman, president and chief executive office of the company, said: “For the second quarter, Merck made good progress launching innovative new pharmaceutical and vaccine products around the world and driving efficiencies in many parts of the business.”

He added that the company is taking action to address its challenges and remains dedicated to regaining its leadership position in the industry.

Last week, MSD announced the approval for Tredaptive (nicotinic acid/laropiprant) gas in the EU as a new lipid-modifying therapy.

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