FiercePharma says: Merck reported a 52 percent decline in second-quarter profit, as merger-related and restructuring costs more than offset a near doubling in sales as a result of its takeover of Schering-Plough. But without those one-time charges, profits actually grew, beating analysts' estimates. The company's biggest drug, Singulair, posted flat sales of $1.26 billion, while the newly-off-patent blood-pressure drugs Cozaar and Hyzaar saw revenues drop 46 percent to $485 million.
- Second-Quarter 2010 Non-GAAP EPS of $0.86, Excluding Certain Items; Second-Quarter GAAP EPS of $0.24
- Key Pharmaceutical Products, Consumer Care and Animal Health Deliver Strong Performance
- Merger Integration Achieving Strategic Intent; Synergy Target of $3.5 Billion of Annual Savings in 2012 Reaffirmed
- Full-Year 2010 Non-GAAP EPS Range of $3.29 to $3.39, Excluding Certain Items; 2010 GAAP EPS Range of $0.82 to $1.16
- Target of High Single-Digit Non-GAAP EPS Compound Annual Growth Rate from 2009 to 2013 Reaffirmed
Merck's website: http://www.merck.com/
Full earnings release: Merck release