Glucophage still driving Merck KGaA
Glucophage stilldriving Merck KGaA
Reporting what it describes as its "best-ever" results, Germany's Merck KGaA says that second-quarter 2001 sales increased 16% to 1.95 billion euros ($1.69 billion), mainly driven by real growth (13%) rather than currency effects (2.6%). Operating income for the quarter was 34% higher at 249 million euros and net income soared 87% to 96 million euros. The group's tax rate fell to 47% in the period from 54% in the like, 2000 quarter.
Pharmaceuticals, and particularly the Glucophage (metformin) antidiabetes franchise, which is co-marketed with Bristol-Myers Squibb, were the main drivers of Merck's sales growth. Total turnover rose 19% to 871 million euros, with operating profits for this business rising 40% to 162 million euros. Pharmaceuticals contributed 45% of sales and 65% of operating profits to the group.
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