Merck & Co's 1st-qtr income climbs 12%

USA-based drug major Merck & Co says that its net income for the first quarter of 2007 was $1.7 billion, up 12% from the $1.5 billion it earned in the comparable period in 2006. The firm added that the result includes $65.8 million in restructuring costs, equivalent to $0.06 per share.

Revenues up 7% on performance of asthma and cholesterol drugs

Merck said that higher revenues in the period, which grew 7% to $5.8 billion, were the foundation of its improved performance, highlighting its chronic asthma treatment Singulair (montelukast), sales of which increased 25% to $1.0 billion, as a key growth driver. The firm added that the the Food and Drug Administration's approval of the product for the prevention of exercise-induced bronchoconstriction in patients aged 15 and older was likely to boost revenues further.