2007 Vioxx settlement sees Merck & Co 2008 profit up, despite lower sales
US drug major Merck & Co's full-year 2008 profit more than doubled on 2007, despite reduced revenue, as it recovered from last year's $4.85-billion payment to settle litigation related to the firm's Vioxx (rofecoxib; Marketletter February 4, 2008)
Net income was $7.81 billion, or $3.64 per share, versus $3.28 billion, or $1.49 per share. Revenue was down 1% to $23.9 billion. R&D expenses were cut 2% to $4.8 billion, while costs associated with global restructuring were up 60% to $1.3 billion.
In diabetes products. Januvia (sitagliptin) sales reached $1.4 billion, while Janumet (sitagliptin plus metformin) achieved $351.0 million. Isentress (raltegravir) for the treatment of HIV-1 infection, generated revenue of $361.0 million.
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