Merck KGaA operating profits up 17% as Glucophage products continue to rise

7 May 2001

Merck KGaA of Germany has announced a 12% rise in sales forfirst-quarter 2001 to 1.78 billion euros ($1.59 billion), while operating profits climbed 17.1% to 212 million euros. Net income, excluding exceptional items, increased 16% to 89 million euros.

The major driver of growth was the group's pharmaceutical division which rose 9.5% to 759.4 million euros, and prescription drugs increased 7.3% to 477 million. Once again, Merck's top earners were the diabetes treatments Glucophage (metformin), the extended-release form Glucophage XR and the combination drug Glucovance (glyburide and metformin), which is sold along with marketing partner Bristol-Myers Squibb. Global sales of the drugs rose 36% to 653 million euros, though Merck did not indicate what percentage of that total it receives.

Generic drugs sales rose "a very pleasing" 20% in the quarter to 204 million euros, with strong growth recorded in France, Australia, the USA and Canada. Merck's liquid crystals business also made a useful contribution to turnover, climbing 20% to 66 million euros.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK



Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight