Merck Reports Increase In Worldwide Sales For Q3 2009

Merck has reported financial results for the third quarter of 2009. Net income for the third quarter was $3,424.3m, compared with $1,092.7m in 2008 during the same period. Foreign exchange for the third quarter unfavorably affected global sales performance by 3%.

The company has reported an increase of 13% to $0.90 in non-GAAP (generally accepted accounting principles) earnings per share (EPS). Company’s worldwide sales were $6 billion, an increase of 2% compared to the prior year. The company has also reported a continued growth of its key products, Januvia, Janumet, Isentress and Singulair.

The company said that it is reaffirming its guidance for full-year 2009 revenue of $23.2 billion to $23.7 billion. All of the 2009 guidance provided by the company excludes contributions from Schering-Plough that would result from the merger and any costs incurred upon closing of the merger, which is expected to occur in the fourth quarter. Therefore, Merck’s standalone 2009 guidance will no longer be applicable once the merger closes.

Richard Clark, chairman, president and CEO, said: “Growth of key products, Januvia, Janumet, Isentress and Singulair, plus continued expense management allowed Merck to deliver strong third quarter results. While focused on the day-to-day business priorities that are fundamental to our success, we’re also primed for our pending merger with Schering-Plough, and the benefits it will bring to patients around the world.”