Merck & Co sales leap 28%; EPS up 13%

Merck & Co says that group sales increased 28% to $11.3 billion for thefirst quarter of 2001, resulting in net income of $1.66 billion, up 11%, and earnings per share at $0.71, a rise of 13% over the like, year-earlier quarter. Sales of human health products rose 8% while those at pharmacy benefit management unit Merck-Medco leapt 51%, but the parent firm does not break out the actual turnover figures for these businesses.

The lipid-lowerer Zocor (simvastatin) recorded sales of $1.5 billion, and Merck pointed out that the US market for statin drugs such as this is expanding at nearly 20% a year. Vioxx (rofecoxib), which Merck says has become the world's fastest-growing branded prescription medicine and its second largest-selling product, achieved sales of $485 million. This was an increase of 31%, but investors had expected higher growth for the drug, although Merck explained that the comparative quarter had seen overstocking by wholesalers ahead of an expected price rise.

The antihypertensives Cozaar (losartan) and Hyzaar (losartan/hydrochlorothiazide) maintained the strong leadership of the angiotensin II antagonists, with combined turnover of $385 million, said Merck. Sales of Fosamax (alendronate) for osteoporosis increased to $350 million, while those of the leukotriene-antagonist Singulair (montelukast) for the treatment of asthma reached $300 million, a rise of some 76%.