The record profits can also be attributed to the fact that demand for its liquid crystals has increased, said the German drug maker. Merck reported strong performances in both its pharmaceuticals business and its chemicals division.
Merck KGaA’s net income increased to E129.5 million ($167.8 million) up from E109.5 million. Full-year sales from the Erbitux drug rose 55% to E337 million. A study examining the drug has reported that as well as improved survival benefit the drug does not increase the rate or duration of some side effects in the treatment of advanced head and neck cancers.
Merck also recently acquired biotechnology company Serono, expanding the range of products in its pipeline.
The fourth-quarter results did include a payment that Merck had to make concerning litigation that alleged the company had been involved in overcharging government health-insurance programs for drugs. Merck has rejected the claims.