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Home Industry News MSD suggests “efficient business model” behind positive 2007 results

MSD suggests “efficient business model” behind positive 2007 results

31st January 2008

Merck, Sharp and Dohme’s (MSD) president Richard T Clark has suggested that the company’s “customer focused, more efficient business model” underlies positive 2007 financial results.

The pharmaceutical firm has reported worldwide sides of $24.2 billion (12.1 billion pounds) for 2007 – an increase of seven per cent for 2006.

In particular, worldwide revenue growth was driven by the performance of products Singulair, Januvia, Gardasil and Varivax, reports MSD.

Mr Clark confirmed: “We have a strong portfolio of products, a robust pipeline of potential new therapies and a leadership team focused daily on improving operational performance.”

He went on to indicate that the firm’s current financial position would enable it to build on its record of delivering essential breakthrough medicines and vaccines like Januvia and Gardasil.

The company also announced full-year 2007 non-GAAP (generally accepted accounting principles) earnings per share at $3.20.

Fourth-quarter results, which were also announced this week, highlighted an increase in worldwide sales of three per cent compared to 2006 but a net loss of $1,630 million -reflecting an aggregate reduction in net earnings of $3,392 million.

Earlier this month, MSD signed a deal to make a generic form of Fosamax (alendronate sodium) available to patients when its patent expires on the compound.

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