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news.Merck & Co has reported a net income of $1.45 billion, or $0.67 per diluted share, for the first quarter ended March 31, 2009, a decrease of 56%, compared to $3.33 million, or $1.52 per diluted share, for the same quarter of 2008.
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For the first quarter of 2009, total sales were $5.38 billion, a decrease of 8%, compared to $5.82 billion in the same quarter of 2008.
Richard Clark, chairman, president and CEO of Merck & Company, said: “Our first-quarter results in part reflect the impact of the difficult global economy on patients, providers and payors, but we remain on track to meet our full-year earnings guidance.
“We believe our planned merger with Schering-Plough will accelerate Merck’s transformation into a global healthcare leader built for sustainable growth and success. Together we will have a formidable pipeline, an expanded product portfolio, a broader global presence, and the best talent in the industry. The new Merck will have increased financial strength and enhanced capabilities focused on breakthrough R&D.”