Financial Report: Merck 4Q

Merck 4Q

4Q Revenues: $10.1 billion (+67%)

4Q Earnings: $6.5 billion (earnings were $1.6 billion in 4Q08)

FY Revenues: $27.4 billion (+15%)

FY Earnings: $12.9 billion (+65%)

Comments: Worldwide sales of Singulair were $1.3 billion in the quarter (+12%), and for the year sales were $4.7 billion (+7%). Global sales of Zetia and Vytorin were $614 million and $577 million in the quarter, respectively, and for the year were $2.2 billion and $2.1 billion, respectively. The Merck/Schering-Plough partnership is now owned by Merck and the post-merger $399 million and $384 million in revenue from Zetia and Vytorin, respectively, are reflected in 4Q sales. Januvia sales were $558 million in the quarter (+35%), and for the year reached $1.9 billion. Janumet achieved sales of $202 million in the quarter (+69%) and $658 million for the year. Isentress sales were $234 million in the quarter (+80%), and for the year sales were $752 million (+108%).

Merck completed the acquisition of Schering-Plough on Nov. 3, 2009. Results for the quarter and the year include the results of legacy Schering-Plough operations. For the post-merger portion of the quarter, sales of Remicade were $431 million, Nasonex sales were $165 million, and sales of Clarinex were $101 million. Merger restructuring costs, primarily related to employee separations, were $1.5 billion for the quarter and $1.6 billion for the year.