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Merck Announces Third-Quarter 2012 Financial Results

ISENTRESS, an HIV integrase inhibitor for use in combination with other antiretroviral agents for the treatment of HIV-1 infection, grew 16 percent to $399 million in the third quarter driven by strong growth in the United States and the emerging markets.

Global sales of Merck's antihypertensive medicines COZAAR and HYZAAR were down 27 percent to $295 million in the third quarter of 2012 due to the loss of market exclusivity in the United States and major European markets in 2010.

Sales of ZOSTAVAX, a vaccine for the prevention of herpes zoster, grew 87 percent to $202 million in the quarter. Growth this quarter was due to a positive response to supply availability and increased promotional efforts in the United States.

Sales of VICTRELIS, the company's oral hepatitis C virus NS3/4A protease inhibitor, grew to $149 million in the quarter versus $31 million last year as the product continues to launch. VICTRELIS is approved in 64 countries and has launched in 31 of those markets.

Animal Health Revenue Performance

Animal Health sales totaled $815 million for the third quarter of 2012, a 1 percent decrease compared with the third quarter of 2011, which includes an 8 percent negative impact due to foreign exchange. Excluding the negative impact of foreign exchange, performance was driven by the cattle, poultry and companion animal segments. The Animal Health division launched the ACTIVYL line of products in the United States, which is an important addition to the companion animal product line.

Consumer Care Revenue Performance

Third-quarter global sales of Consumer Care were $451 million, an increase of 7 percent compared to the third quarter of 2011, including a 3 percent negative impact due to foreign exchange. The increase was primarily driven by the DR. SCHOLL'S footcare line and COPPERTONE suncare line.

Other Revenue Performance

Other revenues – primarily comprised of alliance revenue, miscellaneous corporate revenues and third-party manufacturing sales – declined 17 percent to $347 million. The change was driven largely by lower revenue from AstraZeneca LP (AZLP) recorded by Merck, which declined 15 percent to $255 million, as well as by lower third-party manufacturing sales.

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