Merck Announces Third-Quarter 2017 Financial Results
- Third-Quarter 2017 Worldwide Sales Were
$10.3 Billion , a Decrease of 2 Percent, Including a 1 Percent Positive Impact from Foreign Exchange - KEYTRUDA as well as Animal Health Business Achieved Quarterly Sales of
$1.0 Billion - Third-Quarter 2017 GAAP EPS was
$(0.02) , Reflecting a$2.35 Billion Charge Related to the Formation of a Strategic Oncology Collaboration with AstraZeneca; Third-Quarter Non-GAAP EPS was$1.11 - Company Narrows and Raises 2017
Full-Year Revenue Range to be Between$40.0 Billion and$40.5 Billion , Including a Less Than 1 Percent Negative Impact from Foreign Exchange - Company Narrows and Raises 2017
Full-Year GAAP EPS Range to be Between$1.78 and$1.84 ; Narrows and Raises 2017Full-Year Non-GAAP EPS Range to be Between$3.91 and$3.97 , Including a Less Than 1 Percent Negative Impact from Foreign Exchange - KEYTRUDA Development Program Advances with Key Regulatory Approvals
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“Our performance in the third quarter demonstrates the strength of our underlying business, with growth from key product launches, good global demand for vaccines, as well as strength from our
Financial Summary
Third Quarter | |||||||
$ in millions, except EPS amounts | 2017 | 2016 | |||||
Sales | |
|
|||||
GAAP net (loss) income1 |
(56) | 2,184 | |||||
Non-GAAP net income that excludes items listed below1,2 |
3,054 | 2,989 | |||||
GAAP EPS | (0.02) | 0.78 | |||||
Non-GAAP EPS that excludes items listed below2 |
1.11 | 1.07 | |||||
Worldwide sales were
Sales in the third quarter of 2017 were reduced by approximately
Additionally, as expected, revenue was unfavorably impacted by approximately
GAAP (generally accepted accounting principles) earnings (loss) per share assuming dilution (EPS) were
Pipeline Highlights
- The
U.S. Food and Drug Administration (FDA) approved KEYTRUDA under its Accelerated Approval program for the treatment of patients with recurrent locally advanced or metastatic gastric or gastroesophageal junction adenocarcinoma whose tumors express PD-L1 and who have already received two or more lines of chemotherapy. - The
European Commission approved KEYTRUDA for the treatment of certain patients with locally advanced or metastatic urothelial carcinoma. - At the
European Society for Medical Oncology 2017Congress , data were presented from studies evaluating the use of KEYTRUDA as a monotherapy and combination therapy in 12 cancers. -
Merck is amending the KEYNOTE-189 study to include overall survival as a co-primary endpoint. The updated completion date isFeb. 2019 and there will be opportunities for the company to conduct interim analyses. KEYNOTE-189 is a Phase 3 study of platinum-pemetrexed chemotherapy with or without KEYTRUDA in patients with first line metastatic non-squamous non-small cell lung cancer (NSCLC). -
Merck entered into an oncology collaboration with AstraZeneca to co-develop and co-commercialize AstraZeneca’s Lynparza (olaparib), a PARP inhibitor, and investigational medicine selumetinib, a MEK inhibitor, as monotherapy and in combination treatments for multiple cancer types. - The
FDA approved Lynparza for new and additional uses in ovarian cancer, including as a maintenance treatment for recurrent epithelial ovarian, fallopian tube or primary peritoneal adult cancer patients who are in response to platinum-based chemotherapy, regardless of BRCA status, and in tablets for the use in patients with deleterious or suspected deleterious germline BRCA-mutated advanced ovarian cancer, who have been treated with three or more prior lines of chemotherapy. - The
FDA accepted for review the supplemental New Drug Application (NDA) for the use of Lynparza tablets in patients with germline BRCA-mutated, HER2-negative metastatic breast cancer who have been previously treated with chemotherapy either in the neoadjuvant, adjuvant or metastatic settings. TheFDA granted Priority Review with a PDUFA action date in the first quarter of 2018. A NDA was also submitted to Japan’sPharmaceuticals and Medical Devices Agency . -
Merck acquired Rigontec, a pioneer in accessing the retinoic acid-inducible gene I (RIG-I) pathway, part of the innate immune system, as a novel and distinct approach in cancer immunotherapy to induce both immediate and long-term anti-tumor immunity. Rigontec’s lead candidate, RGT100, is currently in Phase I development evaluating treatment in patients with various tumors. The acquisition closed in October.
Third-Quarter Revenue Performance
The following table reflects sales of the company’s top pharmaceutical products, as well as total sales of
$ in millions | Third Quarter | ||||||||||||
2017 | 2016 | Change |
Change Ex-Exchange |
||||||||||
Total Sales | |
|
-2% | -3% | |||||||||
Pharmaceutical | 9,156 | 9,443 | -3% | -4% | |||||||||
JANUVIA / JANUMET | 1,525 | 1,554 | -2% | -2% | |||||||||
KEYTRUDA | 1,047 | 356 | 194% | 192% | |||||||||
GARDASIL / GARDASIL 9 | 675 | 860 | -22% | -22% | |||||||||
PROQUAD,
M-M-R II and VARIVAX |
519 | 496 | 4% | 5% | |||||||||
ZEPATIER | 468 | 164 | 185% | 184% | |||||||||
ZETIA / VYTORIN | 462 | 944 | -51% | -52% | |||||||||
ISENTRESS / ISENTRESS HD | 310 | 372 | -17% | -18% | |||||||||
ZOSTAVAX | 234 | 190 | 23% | 23% | |||||||||
PNEUMOVAX 23 | 229 | 175 | 31% | 31% | |||||||||
|
1,000 | 865 | 16% | 14% | |||||||||
Other Revenues | 169 | 228 | -26% | -13% | |||||||||
Pharmaceutical Revenue
Third-quarter pharmaceutical sales decreased 3 percent to
The pharmaceutical sales decline was largely driven by the loss of U.S. market exclusivity for ZETIA (ezetimibe) in late 2016 and VYTORIN (ezetimibe/simvastatin) in
Additionally, the decline reflects lower sales of GARDASIL [Human Papillomavirus Quadrivalent (Types 6, 11, 16 and 18) Vaccine, Recombinant] and GARDASIL 9, vaccines to prevent certain cancers and other diseases caused by HPV, largely attributable to lower sales in
The decrease in the diabetes franchise of JANUVIA and JANUMET was primarily due to pricing pressure partially offset by continued volume growth globally.
Higher sales of KEYTRUDA reflect the company’s continued launch with new indications globally. Strong momentum from the treatment of patients with NSCLC contributed significantly to KEYTRUDA’s overall growth, as KEYTRUDA is the only anti-PD-1 approved in the first-line setting.
Growth in ZEPATIER is due to ongoing launches globally. The company anticipates that future sales of ZEPATIER will be unfavorably affected by increasing competition and declining patient volumes.
Additionally, the ongoing launch of BRIDION (sugammadex) Injection 100 mg/mL, a medicine for the reversal of neuromuscular blockade induced by rocuronium bromide or vecuronium bromide in adults undergoing surgery, generated sales of
Growth in PNEUMOVAX 23 (pneumococcal vaccine polyvalent), a vaccine to help prevent pneumococcal disease, was largely due to higher demand and pricing in
Animal Health Revenue
Third-Quarter Expense, EPS and Related Information
The table below presents selected expense information.
$ in millions | ||||||||||||||||||
Third-Quarter 2017 |
GAAP |
Acquisition- and |
Restructuring |
Certain Other |
Non-GAAP2 |
|||||||||||||
Materials and production | |
|
|
$-- | |
|||||||||||||
Marketing and administrative | 2,401 | 11 | -- | -- | 2,390 | |||||||||||||
Research and development | 4,383 | 271 | 2 | 2,350 | 1,760 | |||||||||||||
Restructuring costs | 153 | -- | 153 | -- | -- | |||||||||||||
Other (income) expense, net | (86) | (18) | -- | -- | (68) | |||||||||||||
Third-Quarter 2016 | ||||||||||||||||||
Materials and production | |
|
|
$-- | |
|||||||||||||
Marketing and administrative | 2,393 | 36 | 1 | -- | 2,356 | |||||||||||||
Research and development | 1,664 | 13 | 14 | -- | 1,637 | |||||||||||||
Restructuring costs | 161 | -- | 161 | -- | -- | |||||||||||||
Other (income) expense, net | 22 | 12 | -- | (6) | 16 | |||||||||||||
GAAP Expense, EPS and Related Information
On a GAAP basis, the gross margin was 68.3 percent for the third quarter of 2017 compared to 67.6 percent for the third quarter of 2016. The increase in gross margin for the third quarter of 2017 was primarily driven by the favorable effects of product mix partially offset by costs related to the cyber-attack.
Marketing and administrative expenses were
Research and development (R&D) expenses were
The GAAP effective income tax rate of 125.5 percent for the third quarter of 2017 reflects the unfavorable impact of a
GAAP EPS was
Non-GAAP Expense, EPS and Related Information
The non-GAAP gross margin was 76.0 percent for the third quarter of 2017 compared to 75.3 percent for the third quarter of 2016. The increase in non-GAAP gross margin was largely driven by the favorable effects of product mix partially offset by costs related to the cyber-attack.
Non-GAAP marketing and administrative expenses were
Non-GAAP R&D expenses were
The non-GAAP effective income tax rate was 18.7 percent compared to 23.8 percent in the third quarter of 2016.
Non-GAAP EPS was
A reconciliation of GAAP to non-GAAP net income and EPS is provided in the table that follows.
$ in millions, except EPS amounts | Third Quarter | ||||||
2017 | 2016 | ||||||
EPS | |||||||
GAAP EPS | |
|
|||||
Difference4 |
1.13 | 0.29 | |||||
Non-GAAP EPS that excludes items listed below2 | |
|
|||||
Net Income | |||||||
GAAP net (loss) income1 | |
|
|||||
Difference | 3,110 | 805 | |||||
Non-GAAP net income that excludes items listed below1,2 | |
|
|||||
Decrease (Increase) in Net Income Due to Excluded Items: | |||||||
Acquisition- and divestiture-related costs3 | |
|
|||||
Restructuring costs | 180 | 212 | |||||
Aggregate charge related to the formation of the collaboration with AstraZeneca | 2,350 | -- | |||||
Other | -- | (6) | |||||
Net decrease (increase) in income before taxes | 3,562 | 1,040 | |||||
Income tax (benefit) expense5 |
(452) | (235) | |||||
Decrease (increase) in net income | |
|
|||||
Financial Outlook
The following table summarizes the company’s 2017 financial guidance.
GAAP | Non-GAAP2 | |||||
Revenue | |
|
||||
Operating expenses | Lower than 2016 | Higher than 2016 by a mid-single digit rate | ||||
Effective tax rate | 24.5% to 25.5% | 20.0% to 21.0% | ||||
EPS | |
|
||||
*The company does not have any non-GAAP adjustments to revenue. |
||||||
A reconciliation of anticipated 2017 GAAP EPS to non-GAAP EPS and the items excluded from non-GAAP EPS are provided in the table below.
$ in millions, except EPS amounts |
Full-Year 2017 | ||
GAAP EPS | |
||
Difference4 | 2.13 | ||
Non-GAAP EPS that excludes items listed below2 | |
||
Acquisition- and divestiture-related costs | |
||
Restructuring costs | 850 | ||
Aggregate charge related to the formation of the collaboration with AstraZeneca | 2,350 | ||
Net decrease (increase) in income before taxes | 7,000 | ||
Estimated income tax (benefit) expense | (1,130) | ||
Decrease (increase) in net income | |
||
The expected full-year 2017 GAAP effective tax rate of 24.5 to 25.5 percent reflects an unfavorable impact of approximately 4.5 percentage points from the above items.
Total Employees
As of
Earnings Conference Call
Investors, journalists and the general public may access a live audio webcast of the call today at
About
For more than a century,
Forward-Looking Statement of
This news release of
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s 2016 Annual Report on Form 10-K and the company’s other filings with the
1 Net (loss) income attributable to
2
3 Includes expenses for the amortization of intangible assets and purchase accounting adjustments to inventories recognized as a result of acquisitions, intangible asset impairment charges and expense or income related to changes in the estimated fair value measurement of contingent consideration. Also includes integration, transaction and certain other costs related to business acquisitions and divestitures.
4 Represents the difference between calculated GAAP EPS and calculated non-GAAP EPS, which may be different than the amount calculated by dividing the impact of the excluded items by the weighted-average shares for the period.
5 Includes the estimated tax impact on the reconciling items, as well as a
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CONSOLIDATED STATEMENT OF INCOME - GAAP | |||||||||||||||||||||||||||
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES) | |||||||||||||||||||||||||||
(UNAUDITED) | |||||||||||||||||||||||||||
Table 1 | |||||||||||||||||||||||||||
GAAP |
% Change | GAAP | % Change | ||||||||||||||||||||||||
3Q17 | 3Q16 |
Sep YTD |
Sep YTD |
||||||||||||||||||||||||
Sales | $ | 10,325 | $ | 10,536 | -2% | $ | 29,689 | $ | 29,692 | -- | |||||||||||||||||
Costs, Expenses and Other | |||||||||||||||||||||||||||
Materials and production (1) | 3,274 | 3,409 | -4% | 9,369 | 10,559 | -11% | |||||||||||||||||||||
Marketing and administrative (1) | 2,401 | 2,393 | -- | 7,251 | 7,169 | 1% | |||||||||||||||||||||
Research and development (1) (2) | 4,383 | 1,664 | * | 7,927 | 5,475 | 45% | |||||||||||||||||||||
Restructuring costs (3) | 153 | 161 | -5% | 470 | 386 | 22% | |||||||||||||||||||||
Other (income) expense, net (1) | (86 | ) | 22 | * | 30 | 88 | -66% | ||||||||||||||||||||
Income Before Taxes | 200 | 2,887 | -93% | 4,642 | 6,015 | -23% | |||||||||||||||||||||
Taxes on Income (1) | 251 | 699 | 1,186 | 1,487 | |||||||||||||||||||||||
Net (Loss) Income | (51 | ) | 2,188 | * | 3,456 | 4,528 | -24% | ||||||||||||||||||||
Less: Net Income Attributable to Noncontrolling Interests | 5 | 4 | 16 | 13 | |||||||||||||||||||||||
Net (Loss) Income Attributable to |
$ | (56 | ) | $ | 2,184 | * | $ | 3,440 | $ | 4,515 | -24% | ||||||||||||||||
(Loss) Earnings per Common Share Assuming Dilution (4) | $ | (0.02 | ) | $ | 0.78 | * | $ | 1.25 | $ | 1.62 | -23% | ||||||||||||||||
Average Shares Outstanding Assuming Dilution (4) | 2,727 | 2,786 | 2,754 | 2,791 | |||||||||||||||||||||||
Tax Rate (5) | 125.5 | % | 24.2 | % | 25.5 | % | 24.7 | % | |||||||||||||||||||
* 100% or greater
(1) Amounts include the impact of acquisition and divestiture-related costs, restructuring costs and certain other items. See accompanying tables for details.
(2) Research and development expenses for the third quarter and first nine months of 2017 include a
(3) Represents separation and other related costs associated with restructuring activities under the company's formal restructuring programs.
(4) Because the company recorded a net loss in the third quarter of 2017, no potential dilutive common shares were used in the computation of loss per common share assuming dilution as the effect would have been anti-dilutive.
(5) The effective income tax rates for the third quarter and first nine months of 2017 reflect the unfavorable impact of a
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GAAP TO NON-GAAP RECONCILIATION | |||||||||||||||||||||||||||
THIRD QUARTER 2017 | |||||||||||||||||||||||||||
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES) | |||||||||||||||||||||||||||
(UNAUDITED) | |||||||||||||||||||||||||||
Table 2a | |||||||||||||||||||||||||||
GAAP |
Acquisition and |
Restructuring |
Certain Other |
Adjustment |
Non-GAAP | ||||||||||||||||||||||
Materials and production | $ | 3,274 | 768 | 25 | 793 | $ | 2,481 | ||||||||||||||||||||
Marketing and administrative | 2,401 | 11 | 11 | 2,390 | |||||||||||||||||||||||
Research and development | 4,383 | 271 | 2 | 2,350 | 2,623 | 1,760 | |||||||||||||||||||||
Restructuring costs | 153 | 153 | 153 | - | |||||||||||||||||||||||
Other (income) expense, net | (86 | ) | (18 | ) | (18 | ) | (68 | ) | |||||||||||||||||||
Income Before Taxes | 200 | (1,032 | ) | (180 | ) | (2,350 | ) | (3,562 | ) | 3,762 | |||||||||||||||||
Income Tax Provision (Benefit) | 251 | (179 |
) (4) |
(39 |
) (4) |
(234 |
) (5) |
(452 | ) | 703 | |||||||||||||||||
Net (Loss) Income | (51 | ) | (853 | ) | (141 | ) | (2,116 | ) | (3,110 | ) | 3,059 | ||||||||||||||||
Net (Loss) Income Attributable to |
(56 | ) | (853 | ) | (141 | ) | (2,116 | ) | (3,110 | ) | 3,054 | ||||||||||||||||
(Loss) Earnings per Common Share Assuming Dilution | $ | (0.02 | ) | (0.31 | ) | (0.05 | ) | (0.77 | ) | (1.13 | ) | $ | 1.11 | ||||||||||||||
Tax Rate | 125.5 | % | 18.7 | % | |||||||||||||||||||||||
Only the line items that are affected by non-GAAP adjustments are shown.
(1) Amounts included in materials and production costs primarily reflect expenses for the amortization of intangible assets recognized as a result of business acquisitions. Amounts included in marketing and administrative expenses reflect integration, transaction and certain other costs related to business acquisitions and divestitures. Amounts included in research and development expenses reflect
(2) Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to activities under the company's formal restructuring programs.
(3) Amount included in research and development expenses represents an aggregate charge recorded in conjunction with the formation of a collaboration with AstraZeneca.
(4) Represents the estimated tax impact on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments.
(5) Represents a net tax benefit related to the settlement of certain federal income tax issues.
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GAAP TO NON-GAAP RECONCILIATION | |||||||||||||||||||||||||||
NINE MONTHS ENDED |
|||||||||||||||||||||||||||
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES) | |||||||||||||||||||||||||||
(UNAUDITED) | |||||||||||||||||||||||||||
Table 2b | |||||||||||||||||||||||||||
GAAP |
Acquisition and |
Restructuring |
Certain Other |
Adjustment |
Non-GAAP | ||||||||||||||||||||||
Materials and production | $ | 9,369 | 2,450 | 121 | 2,571 | $ | 6,798 | ||||||||||||||||||||
Marketing and administrative | 7,251 | 40 | 3 | 43 | 7,208 | ||||||||||||||||||||||
Research and development | 7,927 | 289 | 11 | 2,350 | 2,650 | 5,277 | |||||||||||||||||||||
Restructuring costs | 470 | 470 | 470 | - | |||||||||||||||||||||||
Other (income) expense, net | 30 | 18 | (9 | ) | 9 | 21 | |||||||||||||||||||||
Income Before Taxes | 4,642 | (2,797 | ) | (605 | ) | (2,341 | ) | (5,743 | ) | 10,385 | |||||||||||||||||
Income Tax Provision (Benefit) | 1,186 | (464 |
) (4) |
(132 |
) (4) |
(319 |
) (5) |
(915 | ) | 2,101 | |||||||||||||||||
Net Income | 3,456 | (2,333 | ) | (473 | ) | (2,022 | ) | (4,828 | ) | 8,284 | |||||||||||||||||
Net Income Attributable to |
3,440 | (2,333 | ) | (473 | ) | (2,022 | ) | (4,828 | ) | 8,268 | |||||||||||||||||
Earnings per Common Share Assuming Dilution | $ | 1.25 | (0.85 | ) | (0.17 | ) | (0.73 | ) | (1.75 | ) | $ | 3.00 | |||||||||||||||
Tax Rate | 25.5 | % | 20.2 | % | |||||||||||||||||||||||
Only the line items that are affected by non-GAAP adjustments are shown.
(1) Amounts included in materials and production costs primarily reflect
(2) Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to activities under the company's formal restructuring programs.
(3) Amount included in research and development expense represents an aggregate charge recorded in conjunction with the formation of a collaboration with AstraZeneca.
(4) Represents the estimated tax impact on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments.
(5) Represents the estimated tax impact on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments, as well as a
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FRANCHISE / KEY PRODUCT SALES | |||||||||||||||||||||||||||||||||
(AMOUNTS IN MILLIONS) | |||||||||||||||||||||||||||||||||
Table 3 | |||||||||||||||||||||||||||||||||
2017 | 2016 | 3Q | Sep YTD | ||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | Sep YTD | 1Q | 2Q | 3Q | Sep YTD | 4Q | Full Year | Nom % | Ex-Exch % | Nom % | Ex-Exch % | ||||||||||||||||||||
TOTAL SALES (1) | |
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-2 | -3 | 0 | 1 | |||||||||||||||||||
PHARMACEUTICAL | 8,185 | 8,759 | 9,156 | 26,101 | 8,104 | 8,700 | 9,443 | 26,247 | 8,904 | 35,151 | -3 | -4 | -1 | 0 | |||||||||||||||||||
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|||||||||||||||||||||||||||||||||
Cardiovascular | |||||||||||||||||||||||||||||||||
Zetia | 334 | 367 | 320 | 1,021 | 612 | 702 | 671 | 1,985 | 575 | 2,560 | -52 | -53 | -49 | -48 | |||||||||||||||||||
Vytorin | 241 | 182 | 142 | 565 | 277 | 293 | 273 | 843 | 299 | 1,141 | -48 | -51 | -33 | -33 | |||||||||||||||||||
Atozet | 49 | 63 | 59 | 171 | 23 | 33 | 39 | 96 | 50 | 146 | 50 | 43 | 78 | 77 | |||||||||||||||||||
Adempas | 84 | 67 | 70 | 221 | 33 | 40 | 48 | 120 | 49 | 169 | 46 | 45 | 84 | 84 | |||||||||||||||||||
Diabetes | |||||||||||||||||||||||||||||||||
Januvia | 839 | 948 | 1,012 | 2,799 | 906 | 1,064 | 1,006 | 2,976 | 932 | 3,908 | 1 | 1 | -6 | -5 | |||||||||||||||||||
Janumet | 496 | 563 | 513 | 1,572 | 506 | 569 | 548 | 1,624 | 577 | 2,201 | -6 | -8 | -3 | -3 | |||||||||||||||||||
|
|||||||||||||||||||||||||||||||||
NuvaRing | 160 | 199 | 214 | 573 | 175 | 200 | 195 | 571 | 207 | 777 | 10 | 8 | 0 | 0 | |||||||||||||||||||
Implanon / Nexplanon | 170 | 178 | 155 | 503 | 134 | 164 | 148 | 446 | 160 | 606 | 5 | 4 | 13 | 13 | |||||||||||||||||||
Follistim AQ | 81 | 79 | 72 | 232 | 94 | 73 | 101 | 268 | 87 | 355 | -29 | -29 | -13 | -13 | |||||||||||||||||||
Hospital and Specialty | |||||||||||||||||||||||||||||||||
Hepatitis | |||||||||||||||||||||||||||||||||
Zepatier | 378 | 517 | 468 | 1,363 | 50 | 112 | 164 | 326 | 229 | 555 | 185 | 184 | * | * | |||||||||||||||||||
HIV | |||||||||||||||||||||||||||||||||
Isentress / Isentress HD | 305 | 282 | 310 | 896 | 340 | 338 | 372 | 1,050 | 337 | 1,387 | -17 | -18 | -15 | -14 | |||||||||||||||||||
Hospital Acute Care | |||||||||||||||||||||||||||||||||
Bridion | 148 | 163 | 185 | 495 | 90 | 113 | 139 | 343 | 139 | 482 | 33 | 33 | 44 | 45 | |||||||||||||||||||
Noxafil | 141 | 155 | 162 | 458 | 145 | 143 | 147 | 434 | 161 | 595 | 10 | 9 | 5 | 6 | |||||||||||||||||||
Invanz | 136 | 150 | 159 | 445 | 114 | 143 | 152 | 409 | 152 | 561 | 5 | 3 | 9 | 8 | |||||||||||||||||||
Cancidas | 121 | 112 | 94 | 327 | 133 | 131 | 142 | 406 | 152 | 558 | -34 | -35 | -19 | -18 | |||||||||||||||||||
Cubicin | 96 | 103 | 91 | 290 | 292 | 357 | 320 | 969 | 119 | 1,087 | -71 | -72 | -70 | -70 | |||||||||||||||||||
Primaxin | 62 | 71 | 73 | 206 | 73 | 81 | 77 | 231 | 66 | 297 | -5 | -5 | -11 | -8 | |||||||||||||||||||
Immunology | |||||||||||||||||||||||||||||||||
Remicade | 229 | 208 | 214 | 651 | 349 | 339 | 311 | 999 | 269 | 1,268 | -31 | -34 | -35 | -34 | |||||||||||||||||||
Simponi | 184 | 199 | 219 | 602 | 188 | 199 | 193 | 581 | 186 | 766 | 13 | 9 | 4 | 5 | |||||||||||||||||||
Oncology | |||||||||||||||||||||||||||||||||
Keytruda | 584 | 881 | 1,047 | 2,512 | 249 | 314 | 356 | 919 | 483 | 1,402 | 194 | 192 | 173 | 174 | |||||||||||||||||||
Emend | 133 | 143 | 137 | 413 | 126 | 143 | 137 | 405 | 144 | 549 | 0 | -1 | 2 | 2 | |||||||||||||||||||
Temodar | 66 | 65 | 68 | 198 | 66 | 73 | 78 | 216 | 67 | 283 | -13 | -12 | -8 | -8 | |||||||||||||||||||
Diversified Brands | |||||||||||||||||||||||||||||||||
Respiratory | |||||||||||||||||||||||||||||||||
Singulair | 186 | 203 | 161 | 550 | 237 | 229 | 239 | 705 | 210 | 915 | -33 | -32 | -22 | -21 | |||||||||||||||||||
Nasonex | 139 | 85 | 42 | 266 | 229 | 101 | 94 | 425 | 112 | 537 | -55 | -56 | -37 | -38 | |||||||||||||||||||
Dulera | 82 | 69 | 59 | 210 | 113 | 121 | 97 | 331 | 105 | 436 | -39 | -40 | -37 | -37 | |||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Cozaar / Hyzaar | 112 | 119 | 128 | 360 | 126 | 132 | 131 | 389 | 121 | 511 | -3 | -1 | -8 | -6 | |||||||||||||||||||
Arcoxia | 103 | 89 | 80 | 272 | 111 | 117 | 114 | 342 | 108 | 450 | -30 | -32 | -20 | -20 | |||||||||||||||||||
Fosamax | 61 | 66 | 53 | 180 | 75 | 73 | 68 | 217 | 68 | 284 | -23 | -23 | -17 | -16 | |||||||||||||||||||
Vaccines (2) | |||||||||||||||||||||||||||||||||
Gardasil / Gardasil 9 | 532 | 469 | 675 | 1,675 | 378 | 393 | 860 | 1,631 | 542 | 2,173 | -22 | -22 | 3 | 3 | |||||||||||||||||||
ProQuad / M-M-R II / Varivax | 355 | 399 | 519 | 1,273 | 357 | 383 | 496 | 1,236 | 405 | 1,640 | 4 | 5 | 3 | 4 | |||||||||||||||||||
Pneumovax 23 | 163 | 166 | 229 | 558 | 107 | 120 | 175 | 403 | 238 | 641 | 31 | 31 | 38 | 39 | |||||||||||||||||||
Zostavax | 154 | 160 | 234 | 547 | 125 | 149 | 190 | 464 | 221 | 685 | 23 | 23 | 18 | 17 | |||||||||||||||||||
RotaTeq | 224 | 123 | 179 | 525 | 188 | 130 | 171 | 489 | 162 | 652 | 4 | 4 | 7 | 7 | |||||||||||||||||||
Other Pharmaceutical (3) | 1,037 | 1,116 | 1,013 | 3,172 | 1,083 | 1,128 | 1,191 | 3,398 | 1,172 | 4,574 | -15 | -15 | -7 | -7 | |||||||||||||||||||
ANIMAL HEALTH | 939 | 955 | 1,000 | 2,894 | 829 | 900 | 865 | 2,594 | 884 | 3,478 | 16 | 14 | 12 | 11 | |||||||||||||||||||
Other Revenues (4) | 310 | 216 | 169 | 694 | 379 | 244 | 228 | 851 | 327 | 1,178 | -26 | -13 | -18 | -7 | |||||||||||||||||||
* 200% or greater
Sum of quarterly amounts may not equal year-to-date amounts due to rounding.
(1) Only select products are shown.
(2) Vaccine sales in 2017 include sales in the European markets that were previously part of the Sanofi Pasteur MSD (SPMSD) joint venture that was terminated on
(3) Includes Pharmaceutical products not individually shown above. Other Vaccines sales included in Other Pharmaceutical were
(4) Other Revenues are comprised primarily of alliance revenue, third-party manufacturing sales and miscellaneous corporate revenues, including revenue hedging activities.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171027005199/en/
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