MSD reports ‘strong revenue growth’

Merck, Sharp and Dohme (MSD) has announced its financial results for the 2006 fiscal year, reporting “solid” growth in revenues for the year. The company generated total sales of $22.6 billion (11.57 billion pounds) for the year, representing an increase of three per cent over the previous year.

Net income fell four per cent during 2006 to $4.4 billion, with full year earnings per share decreasing by three per cent on last year’s figure to $2.03.

The company states that the speedy uptake of new pharmaceuticals Januvia and Gardasil combined with the sales figures for its newer products highlights the strength of its product portfolio.

Richard T Clark, chief executive officer and president of MSD, said: “These results clearly set the stage for our performance in 2007 as well as continued progress toward our long-term financial targets.”

He added that the company had made a number of investments in the fourth quarter of the year to encourage the success of its strategic research and marketing initiatives, citing the company’s acquisition of Sirna for $1.1 billion.

Last November, the board of MSD declared a quarterly dividend of $0.38 per share on its common stock for the first quarter of 2007 to be paid on January 2nd 2007.