MSD Q1 results to be better than expected

MSD has said that it anticipates first quarter results to be higher than previously expected, the company said in a statement yesterday.

The pharmaceutical giant, currently facing a nationwide lawsuit in the United States relating to the Vioxx drug, said that the strong results were driven by the performance of the Zocor drug.

According to MSD, the reported earnings per share (EPS) value for the first quarter of the year will be in the region of $0.61 to $0.67, with full year expectations of a reported EPS range of $1.98 to $2.12.

These are in line with previous predictions for full year performance, but MSD said that the EPS range for 2006 does not include the impact of any liability charges that it may have to pay relating to the Vioxx case.

The company’s full first quarter earnings and sales results will be announced later this month, where senior figures will review MSD’s performance.

© Adfero Ltd