SECURITY: MRK (Common)
EXCHANGE: New York Stock Exchange CURRENCY: US Dollar
Indice: DJI
Merck & Co., Inc. is
a leading research-driven pharmaceutical products and services company.
Merck discovers, develops, manufactures and markets a broad range of innovative
products to improve human and animal health, directly and through its joint
ventures.
Merck
Reports Strong Financial Results for First-Quarter 2007 PDF
•
First-Quarter 2007 Earnings Per Share (EPS) Were 84 Cents, Excluding Restructuring
Charges; First-Quarter Reported EPS Were 78 Cents
•
Vaccines Sales Growth Strong; GARDASIL Reached $365 Million in the Quarter
•
Performance of Key Products, Including SINGULAIR, ZETIA, VYTORIN and JANUVIA,
Drove Company Results
•
Merck Anticipates Second-Quarter EPS Range of 67 to 71 Cents, Excluding
Restructuring Charges; Reported Second-Quarter EPS Range of 62 to 68 Cents
Anticipated
•
Merck Reaffirms Full-Year 2007 EPS Range of $2.75 to $2.85, Excluding Restructuring
Charges; Reported 2007 EPS Range of $2.60 to $2.75 Reaffirmed
WHITEHOUSE
STATION, N.J., April 19, 2007 – Merck & Co., Inc. today announced firstquarter
2007 results that reflected strong performance across a range of the Company's
products and those of the Merck/Schering-Plough partnership, as well as
gains from certain asset and product divestitures. Worldwide sales were
$5.8 billion for the quarter, an increase of 7% from the first quarter
of 2006. Net income for the first quarter of 2007 was $1,704.3 million,
compared to $1,520.0 million in the first quarter of 2006. A reconciliation
of earnings per share (EPS) as reported in accordance with generally accepted
accounting principles (GAAP) to EPS, adjusted for certain significant items,
is provided in the table below.
Quarter
Ended March 31
2007
2006
EPS,
as reported $ 0.78 $ 0.69
Costs
related to the global restructuring program 0.06 0.09
EPS,
adjusted for significant items listed above1 $ 0.84 $ 0.78
Merck
Announces Strong Financial Results for the Third Quarter 2006 Led by the
Performance of SINGULAIR, VYTORIN and Vaccines
Company
Posts Third-Quarter Earnings Per Share (EPS) of 51 Cents, Including the
Impact of Reserving an Additional $598 Million Solely for Future VIOXX
Legal Defense Costs and Excluding Restructuring Charges; Reported Third-Quarter
EPS of 43 Cents
VYTORIN
and ZETIA Achieve Combined Global Sales of More Than $1 Billion in the
Third Quarter
Vaccine
Sales Growth Strong; GARDASIL Reached $70 Million in the Third Quarter
Merck
Raises Full-Year 2006 Guidance and Now Anticipates EPS Range of $2.48 to
$2.52, Excluding Restructuring Charges; Reported 2006 EPS Range of $2.18
to $2.25
U.S.
Food and Drug Administration (FDA) Approved JANUVIA, the Company’s Once-Daily
and First-in-Class Treatment for Type 2 Diabetes; and ZOLINZA, Merck's
Medicine for Advanced Cutaneous T-Cell Lymphoma (CTCL)
WHITEHOUSE
STATION, N.J., Oct. 20, 2006 - Merck & Co., Inc. today announced that
EPS for the third quarter of 2006 were $0.51, including the impact of reserving
an additional $598 million in the third quarter solely for future VIOXX
legal defense costs and excluding a net $0.08 charge for site closures
and position eliminations primarily associated with the global restructuring
announced in November 2005. Reported EPS, including the impact of the net
restructuring charge, were $0.43 for the third quarter of 2006 compared
to $0.65 for the third quarter of 2005. Net income was $940.6 million,
compared to $1,420.9 million in the third quarter of last year. Worldwide
sales were $5.4 billion for the quarter, comparable to the third quarter
of 2005.
Excluding
the impact of the restructuring charges, EPS for the first nine months
of 2006 were $2.02. Reported EPS were $1.81, including the impact of the
$0.21 net restructuring charges taken during the year. Net income was $3,959.9
million and worldwide sales were $16.6 billion for the first nine months
of 2006. Total sales increased 2% for the first nine months.
"The
third quarter results reflect the recognition of the medical value of GARDASIL,
our vaccine for cervical cancer. This week's approval of our first-in-class
diabetes drug, JANUVIA, marks the fifth product approval this year for
Merck," said Richard T. Clark, chief executive officer and president. "Given
the results of the quarter, we remain on track to meet the goals we set
for ourselves with our new business strategy."
Materials
and production costs increased 25% for the third quarter of 2006, including
$199.6 million recorded in the third quarter for costs associated with
the global restructuring program, primarily related to accelerated depreciation
and asset impairment costs. Excluding these costs, materials and production
increased 9% for the quarter. The gross margin was 71.5% which reflects
a 3.7 percentage point unfavorable impact relating to the restructuring
costs as noted above. For the first nine months of 2006, the gross margin
was 73.9% which reflects a 3.4 percentage point unfavorable impact relating
to restructuring costs.
Marketing
and administrative expenses were $2,370.6 million, an increase of 43% in
the third quarter of 2006. Included in marketing and administrative expenses
is an additional $598 million reserve solely for future legal defense costs
for VIOXX litigation recorded in the third quarter. Excluding this cost,
marketing and administrative expenses increased 7% for the quarter. The
results reflect the increase in the level of activity to support the three
recently-approved vaccines and the imminent launch of JANUVIA in the United
States.
Research
and development expenses were $945.4 million for the quarter, comparable
to the third quarter of 2005.
Restructuring
costs were $49.6 million for the quarter, representing separation and other
related costs associated with the Company's restructuring program announced
in November 2005. In the third quarter of 2006, the Company eliminated
approximately 500 positions, bringing the total to approximately 3,900
since the inception of the program. Merck remains on track to eliminate
7,000 positions by the end of 2008.
Full-Year
2006 EPS Guidance
Merck
anticipates full-year 2006 EPS of $2.48 to $2.52, excluding the restructuring
charges related to site closures and position eliminations. Merck anticipates
reported full-year 2006 EPS of $2.18 to $2.25. Please see pages 10 - 11
of this news release for details of Merck's full-year 2006 financial guidance
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