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Merck Announces Second-Quarter 2012 Financial Results

Select Revenue Highlights

Worldwide sales were $12.3 billion for the second quarter of 2012, an increase of 1 percent, or 5 percent excluding foreign exchange, compared with the second quarter of 2011. Sales also were unfavorably impacted by the arbitration settlement agreement with Johnson & Johnson discussed below.

The following table reflects sales of the company's top pharmaceutical products, as well as total sales of animal health and consumer care products.
   

$ in millions
 

Second Quarter 2012
 

Second Quarter 2011
 

Change
Total Sales   $12,311   $12,151   1%
Pharmaceutical   10,560   10,360   2%
SINGULAIR   1,431   1,354   6%
JANUVIA   1,058   779   36%
ZETIA   632   592   7%
REMICADE   518   842   -38%
VYTORIN   445   459   -3%
JANUMET   411   321   28%
ISENTRESS   398   337   18%
COZAAR/HYZAAR   337   406   -17%
GARDASIL   324   277   17%
PROQUAD, M-M-R II and VARIVAX   316   291   9%
Animal Health   865   802   8%
Consumer Care   552   541   2%
Other Revenues   333   448   -26%

Pharmaceutical Revenue Performance

Second-quarter pharmaceutical sales grew 2 percent to $10.6 billion, including a 3 percent negative impact due to foreign exchange. Adjusting pharmaceutical sales in the second quarter of 2011 to exclude sales of REMICADE (infliximab) and SIMPONI (golimumab) from the territories transferred to Johnson & Johnson through the settlement agreement, pharmaceutical sales would have increased 5 percent in the second quarter of 2012. 6 The revenue increases largely reflect strong sales growth for JANUVIA (sitagliptin), VICTRELIS (boceprevir), JANUMET (sitagliptin/metformin hydrochloride), SINGULAIR (montelukast sodium), ISENTRESS (raltegravir) and GARDASIL [Human Papillomavirus Quadrivalent (Types 6, 11, 16 and 18) Vaccine, Recombinant]. These increases were partially offset by expected declines in sales of COZAAR (losartan potassium) and HYZAAR (losartan potassium and hydrochlorothiazide) as well as European austerity measures.

Sales from emerging markets accounted for approximately 18 percent of pharmaceutical sales in the second quarter. Growth in the emerging markets is being driven by diversified brands and core products like JANUVIA, JANUMET and ISENTRESS. China continues to be a key driver with 27 percent growth for the second quarter, including a 4 percent benefit from foreign exchange.

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