Deprecated: Function eregi() is deprecated in /mnt/stor18-wc2-dfw1/415940/739962/www.biomedreports.com/web/content/administrator/components/com_sefservicemap/include/pingback.class.php on line 101

Deprecated: Function eregi() is deprecated in /mnt/stor18-wc2-dfw1/415940/739962/www.biomedreports.com/web/content/administrator/components/com_sefservicemap/include/pingback.class.php on line 107
Merck Announces First-Quarter 2013 Financial Results | Business Wire | BioMedReports.Com

Merck Announces First-Quarter 2013 Financial Results

Wednesday, 01 May 2013 01:08

 

$ in millions, except EPS amounts

First
Quarter
2013

First
Quarter
2012

Sales $10,671 $11,731
GAAP EPS 0.52 0.56

Non-GAAP EPS that excludes items listed below1

0.85 0.99

GAAP Net Income2

1,593 1,738
Non-GAAP Net Income that excludes items listed below1,2 2,585 3,044

Non-GAAP (generally accepted accounting principles) earnings per share (EPS) for the first quarter of $0.85 exclude acquisition-related costs, restructuring costs and certain other items. First quarter non-GAAP EPS included unanticipated net tax benefits of approximately $0.06 per share.

A reconciliation of GAAP to non-GAAP net income and EPS is provided in the tables that follow.

$ in millions, except EPS amounts First Quarter
2013 2012
EPS
GAAP EPS $0.52 $0.56

Difference3

0.33 0.43
Non-GAAP EPS that excludes items listed below1 $0.85 $0.99
Net Income
GAAP net income2 $1,593 $1,738
Difference 992 1,306
Non-GAAP net income that excludes items listed below1,2 $2,585 $3,044
Decrease (Increase) in Net Income Due to Excluded Items:

Acquisition-related costs4

$1,237 $1,289
Restructuring costs 194 293
Net decrease (increase) in income before taxes 1,431 1,582

Income tax (benefit) expense5

(439) (276)
Decrease (increase) in net income $992 $1,306

“Our first quarter performance reflects the challenges of major patent expiries coupled with the impact of currency and other headwinds,” said Kenneth C. Frazier, chairman and chief executive officer, Merck. “During the quarter, we took focused actions to reach our EPS target while at the same time advancing Merck’s pipeline in our laboratories and through strategic deals and partnerships. I remain confident in the future opportunities for our strong and diverse business and committed to delivering long-term value to our shareholders.”

Select Revenue Highlights

Worldwide sales were $10.7 billion for the first quarter of 2013, a decrease of 9 percent compared with the first quarter of 2012, including a 2 percent negative effect from foreign exchange.

The following table reflects sales of the company's top pharmaceutical products, as well as total sales of animal health and consumer care products.

$ in millions

First Quarter
2013

First Quarter
2012

Change

Change
Ex-exchange

Total Sales $10,671 $11,731 -9% -7%
Pharmaceutical 8,891 10,082 -12% -10%
JANUVIA 884 919 -4% -1%
ZETIA 629 614 2% 4%
REMICADE 549 519 6% 5%
JANUMET 409 392 4% 4%
VYTORIN 394 444 -11% -11%
GARDASIL 390 284 37% 39%
NASONEX 385 375 3% 7%
ISENTRESS 362 337 8% 8%
SINGULAIR 337 1,340 -75% -73%
PROQUAD, M-M-R II and VARIVAX 272 255 7% 7%
Animal Health 840 821 2% 4%
Consumer Care 571 554 3% 4%
Other Revenues 369 274 34% 33%

Pharmaceutical Revenue Performance

First-quarter pharmaceutical sales declined 12 percent to $8.9 billion, including a 2 percent negative impact due to foreign exchange. Declines of SINGULAIR (montelukast sodium), MAXALT (rizatriptan benzoate) and CLARINEX (desloratadine) following loss of market exclusivity were partially offset by strong growth for GARDASIL [Human Papillomavirus Quadrivalent (Types 6, 11, 16 and 18) Vaccine, Recombinant], ZOSTAVAX (zoster vaccine live), REMICADE (infliximab), SIMPONI (golimumab) and ISENTRESS (raltegravir).

Sales from emerging markets grew 6 percent, including a 2 percent negative impact from foreign exchange. Emerging market sales accounted for approximately 21 percent of pharmaceutical sales in the first quarter of 2013. China continues to be a key driver of growth in the emerging markets with sales increasing 23 percent for the first quarter, including a 2 percent benefit from foreign exchange.

Worldwide sales of the combined diabetes franchise of JANUVIA (sitagliptin)/JANUMET (sitagliptin/metformin HCI) declined 1 percent to $1.3 billion in the first quarter, including a 2 percent negative impact from foreign exchange. The decline reflects lower sales in the United States of 5 percent, primarily driven by reduced customer inventory levels, which were partially offset by growth in the rest of the world.

Sales of ZETIA (ezetimibe) and VYTORIN (ezetimibe/simvastatin), medicines for lowering LDL cholesterol, declined 3 percent to $1.0 billion in the first quarter driven by lower sales of VYTORIN, partially offset by growth of ZETIA in the United States.

Combined sales of REMICADE and SIMPONI, treatments for inflammatory diseases, increased 11 percent to $657 million in the first quarter of 2013.

Merck’s sales of GARDASIL, a vaccine to help prevent certain diseases caused by four types of human papillomavirus (HPV), were $390 million, an increase of 37 percent for the quarter. The increase was driven by higher sales in the United States, reflecting continued strong uptake in males and higher public sector purchases, as well as favorable performance in the emerging markets.

ISENTRESS, an HIV integrase inhibitor for use in combination with other antiretroviral agents for the treatment of HIV-1 infection, grew 8 percent to $362 million in the first quarter driven by strong growth in the emerging markets and Europe.

Worldwide sales of SINGULAIR, a once-a-day oral medicine for the chronic treatment of asthma and the relief of symptoms of allergic rhinitis, declined 75 percent to $337 million in the first quarter. The patents for SINGULAIR expired in the United States in August 2012 and expired in major European markets in February 2013. The company experienced a significant and rapid reduction in sales in the United States and is now also experiencing a substantial decline in Europe.

Sales of VICTRELIS (boceprevir), the company's oral hepatitis C virus protease inhibitor, declined 1 percent in the first quarter to $110 million, including a 2 percent negative impact from foreign exchange. Lower sales in the United States were partially offset by continued growth in international markets.

Sales of ZOSTAVAX, a vaccine for the prevention of herpes zoster, were $168 million in the first quarter of 2013, up from $76 million in the first quarter of 2012, driven by strong demand in the United States.

Animal Health Revenue Performance

Animal Health sales totaled $840 million for the first quarter of 2013, a 2 percent increase compared with the first quarter of 2012, including a 2 percent negative impact due to foreign exchange. The increase was driven by strong performance in companion animal products, including sales of ACTIVYL, a new product for the treatment and prevention of fleas and ticks in dogs and cats, as well as continued growth in poultry products. Animal Health products include pharmaceutical and vaccine products for the prevention, treatment and control of disease in all major farm and companion animal species.

Consumer Care Revenue Performance

First-quarter global sales of Consumer Care were $571 million, an increase of 3 percent compared to the first quarter of 2012, including a 1 percent negative impact due to foreign exchange. The sales increase was primarily due to COPPERTONE suncare products and CLARITIN.

Other Revenue Performance

Other revenues – primarily comprising alliance revenue, miscellaneous corporate revenues and third-party manufacturing sales – increased 34 percent to $369 million compared to the first quarter of 2012. The increase was primarily driven by higher revenue from AstraZeneca LP (AZLP) recorded by Merck, which increased 41 percent to $262 million as compared with atypically lower first quarter 2012 AZLP revenues.

First-Quarter Expense and Other Information

The costs detailed below totaled $9.0 billion on a GAAP basis during the first quarter of 2013 and include $1.4 billion of acquisition-related costs and restructuring costs.

$ in millions Included in expenses for the period
First Quarter 2013

 

GAAP

Acquisition-
Related
Costs4

Restructuring
Costs

Non-GAAP1

Materials and production $3,959 $1,184 $43 $2,732

Marketing and
administrative

2,987 23 17 2,947

Research and
development

1,907 30 15 1,862
Restructuring costs 119 –- 119 –-
First Quarter 2012

Materials and
production

$4,037 $1,229 $5 $2,803

Marketing and
administrative

3,074 51 24 2,999

Research and
development

1,862 9 45 1,808
Restructuring costs 219 –- 219

The gross margin was 62.9 percent for the first quarter of 2013 and 65.6 percent for the first quarter of 2012, reflecting 11.5 and 10.5 percentage point unfavorable impacts, respectively, from the acquisition-related costs and restructuring costs noted above. The gross margin decline primarily reflects the impact of the SINGULAIR patent expiries.

Marketing and administrative expenses, on a non-GAAP basis, were $2.9 billion in the first quarter of 2013, a decrease from $3.0 billion in the first quarter of 2012.

Research and development (R&D) expenses, on a non-GAAP basis, were $1.9 billion in the first quarter of 2013, an increase from $1.8 billion in the first quarter of 2012.

Equity income from affiliates was $133 million for the first quarter, primarily reflecting the performance of partnerships with AZLP and Sanofi Pasteur MSD.

Other (income) expense, net was $282 million of expense in the first quarter of 2013, compared to $142 million of expense in the first quarter of 2012. The first quarter of 2013 includes approximately $140 million of exchange losses due to a Venezuelan currency devaluation.

The GAAP effective tax rate of (4.3)% for the first quarter of 2013 reflects the impact of acquisition-related costs and restructuring costs, as well as an out-of-period tax benefit of approximately $160 million associated with the resolution of a previously disclosed legacy Schering-Plough federal income tax issue. The non-GAAP effective tax rate, which excludes these items, was 12.5% for the quarter. Both the GAAP and non-GAAP first quarter effective tax rates reflect the favorable impact of tax legislation enacted in the first quarter of 2013. The first quarter 2013 tax rates also reflect the net favorable impact of other discrete items, primarily a reduction in tax reserves upon expiration of applicable statute of limitations, which resulted in unanticipated net tax benefits of approximately $0.06 per share as noted above.

Key Developments

The company noted the following developments:

  • Announced a new share repurchase program of up to $15 billion of Merck’s common stock for its treasury. The company expects to repurchase approximately $7.5 billion of common stock over the next 12 months, financed through a combination of debt issuance and operating cash flows, with the remainder to be repurchased over time with no time limit.
  • Entered into a worldwide (except Japan) collaboration agreement with Pfizer Inc. (Pfizer) to develop and commercialize ertugliflozin, an investigational oral sodium glucose cotransporter (SGLT2) inhibitor being evaluated for the treatment of type 2 diabetes. Merck and Pfizer will collaborate on the clinical development and commercialization of ertugliflozin and ertugliflozin-containing fixed-dose combinations with metformin and JANUVIA.
  • Announced that the U.S. Food and Drug Administration (FDA) has designated lambrolizumab (MK-3475), an investigational antibody therapy for advanced melanoma, as a “Breakthrough Therapy.”
  • Entered into an agreement with Bristol-Myers Squibb (BMS) to conduct a Phase II clinical trial to evaluate the safety and efficacy of a once-daily oral combination regimen consisting of BMS’ investigational NS5A replication complex inhibitor and Merck’s investigational NS3/4A protease inhibitor (MK-5172) for the treatment of genotype 1 hepatitis C virus infection.
  • Increased investment in emerging markets with the opening of a new pharmaceutical manufacturing facility in Hangzhou, China. The site will package Merck medicines for China and the Asia Pacific region and become a critical part of the company’s global supply chain.
  • Announced FDA acceptance of a Biologics License Application (BLA) for an investigational Timothy grass pollen (Phleum pratense) allergy immunotherapy tablet (AIT) for review. The company also submitted a BLA to the FDA for its investigational ragweed pollen (Ambrosia artemisiifolia) AIT.
  • Entered into an agreement with Samsung Bioepis Co., Ltd (Samsung) to develop and commercialize multiple biosimilar candidates. Under the agreement, Samsung will be responsible for preclinical and clinical development, process development and manufacturing, clinical trials and registration and Merck will be responsible for commercialization.

Financial Targets

Merck now expects full-year 2013 non-GAAP EPS to be between $3.45 and $3.55, and 2013 GAAP EPS to be between $1.92 and $2.16. The 2013 non-GAAP range excludes acquisition-related costs, costs related to restructuring programs and certain other items. The company updated its full-year guidance due to pressures on sales that are greater than previously anticipated, including foreign exchange, as well as new R&D programs and a revised tax rate.

At current exchange rates, Merck now expects full-year 2013 sales to be approximately 3 to 4 percent below prior year levels with foreign exchange accounting for more than 2 percentage points of the decline.

In addition, the company now expects full-year 2013 non-GAAP R&D expense to be slightly higher than 2012 levels. The company now expects its full-year 2013 non-GAAP tax rate to be in the range of 22 to 23 percent.

A reconciliation of anticipated 2013 EPS, as reported in accordance with GAAP to non-GAAP EPS that excludes certain items, is provided in the table below.

$ in millions, except EPS amounts

Full Year 2013
GAAP EPS $1.92 to $2.16
Difference3 1.53 to 1.39
Non-GAAP EPS that excludes items listed below $3.45 to $3.55
Acquisition-related costs4 $5,125 to $4,800
Restructuring costs 700 to 500
Net decrease (increase) in income before taxes 5,825 to 5,300
Income tax (benefit) expense5 (1,180) to (1,070)
Decrease (increase) in net income $4,645 to $4,230

Total Employees

As of March 31, 2013, Merck had approximately 82,000 employees worldwide.

Earnings Conference Call

Investors, journalists and the general public may access a live audio webcast of the call today at 8:00 a.m. EDT on Merck’s website at http://www.merck.com/investors/events-and-presentations/home.html. Institutional investors and analysts can participate in the call by dialing (706) 758-9927 or (877) 381-5782 and using ID code number 22104203. Members of the media are invited to monitor the call by dialing (706) 758-9928 or (800) 399-7917 and using ID code number 22104203. Journalists who wish to ask questions are requested to contact a member of Merck's Media Relations team at the conclusion of the call.

About Merck

Today's Merck is a global healthcare leader working to help the world be well. Merck is known as MSD outside the United States and Canada. Through our prescription medicines, vaccines, biologic therapies, and consumer care and animal health products, we work with customers and operate in more than 140 countries to deliver innovative health solutions. We also demonstrate our commitment to increasing access to healthcare through far-reaching policies, programs and partnerships. For more information, visit www.merck.com and connect with us on Twitter, Facebook and YouTube.

Forward-Looking Statement

This news release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of Merck’s management and are subject to significant risks and uncertainties. There can be no guarantees with respect to pipeline products that the products will receive the necessary regulatory approvals or that they will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.

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 United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; Merck’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of Merck’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.

Merck 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 Merck’s 2012 Annual Report on Form 10-K and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).

1 Merck is providing certain 2013 and 2012 non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Management believes that providing this information enhances investors’ understanding of the company’s performance. This information should be considered in addition to, but not in lieu of, information prepared in accordance with GAAP. For description of the items, see Table 2a, including the related footnotes, attached to this release.

2 Net income attributable to Merck & Co., Inc.

3 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.

4 Includes expenses for the amortization of intangible assets recognized as a result of mergers and acquisitions, as well as intangible asset impairment charges. Also includes integration and other costs associated with mergers and acquisitions.

5 Includes the estimated tax impact on the reconciling items. In addition, amount for 2013 includes a benefit of approximately $160 million associated with the resolution of a previously disclosed legacy Schering-Plough federal income tax issue.

MERCK & CO., INC.
CONSOLIDATED STATEMENT OF INCOME - GAAP
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 1

GAAP % Change
1Q13 1Q12

 

Sales $ 10,671 $ 11,731 -9%
Costs, Expenses and Other
Materials and production (1) 3,959 4,037 -2%
Marketing and administrative (1) 2,987 3,074 -3%
Research and development (1) 1,907 1,862 2%
Restructuring costs (2) 119 219 -46%
Equity income from affiliates (3) (133 ) (110 ) 21%
Other (income) expense, net (4) 282 142 99%
Income Before Taxes 1,550 2,507 -38%
Income Tax (Benefit) Provision (66 ) 740
Net Income 1,616 1,767 -9%
Less: Net Income Attributable to Noncontrolling Interests 23 29
Net Income Attributable to Merck & Co., Inc. $ 1,593 $ 1,738 -8%
Earnings per Common Share Assuming Dilution $ 0.52 $ 0.56 -7%
Average Shares Outstanding Assuming Dilution 3,053 3,074
Tax Rate (5) -4.3 % 29.5 %
(1) Amounts include the impact of acquisition-related costs and restructuring costs. See accompanying tables for details.
(2) Represents separation and other related costs associated with restructuring activities under the company's formal restructuring programs.
(3) Primarily reflects equity income from the AstraZeneca LP and Sanofi Pasteur MSD partnerships.
(4) Other (income) expense, net in the first quarter of 2013 reflects approximately $140 million of losses due to exchange as a result of a Venezuelan currency devaluation.
(5) The GAAP effective tax rate for the first quarter of 2013 reflects the favorable impact of various discrete items, including the impact of tax legislation enacted in the first quarter of 2013, a reduction in tax reserves upon expiration of applicable statute of limitations, as well as a benefit of approximately $160 million associated with the resolution of a previously disclosed legacy Schering-Plough federal income tax issue.

 

MERCK & CO., INC.

CONSOLIDATED STATEMENT OF INCOME

GAAP TO NON-GAAP RECONCILIATION

FIRST QUARTER 2013

(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)

(UNAUDITED)

Table 2a

GAAP

Acquisition-
Related Costs (1)

Restructuring
Costs (2)

Adjustment
Subtotal

Non-GAAP
Sales $ 10,671 $ 10,671
Costs, Expenses and Other
Materials and production 3,959 1,184 43 1,227 2,732
Marketing and administrative 2,987 23 17 40 2,947
Research and development 1,907 30 15 45 1,862
Restructuring costs 119 119 119 -
Equity income from affiliates (133 ) (133 )
Other (income) expense, net 282 282
Income Before Taxes 1,550 (1,237 ) (194 ) (1,431 ) 2,981
Taxes on Income (66 ) (439 )

(3)

373
Net Income 1,616 (992 ) 2,608
Less: Net Income Attributable to Noncontrolling Interests 23 23
Net Income Attributable to Merck & Co., Inc. $ 1,593 (992 ) $ 2,585
Earnings per Common Share Assuming Dilution $ 0.52 $ 0.85
Average Shares Outstanding Assuming Dilution 3,053 3,053
Tax Rate -4.3 % 12.5 %
Merck is providing non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Management believes that providing this information enhances investors' understanding of the company's performance. This information should be considered in addition to, but not in lieu of, information prepared in accordance with GAAP.
(1) Amounts included in materials and production costs reflect expenses for the amortization of intangible assets recognized as a result of mergers and acquisitions. Amounts included in marketing and administrative expenses reflect merger integration costs. Amounts included in research and development expenses represent in-process research and development (“IPR&D”) impairment charges.
(2) Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to actions under the company's formal restructuring programs.
(3) Represents the estimated tax impact on the reconciling items, as well as a benefit of approximately $160 million associated with the resolution of a previously disclosed legacy Schering-Plough federal income tax issue.

 

MERCK & CO., INC.

FRANCHISE / KEY PRODUCT SALES

(AMOUNTS IN MILLIONS)

(UNAUDITED)

Table 3

2013 2012

%
Change

1Q 1Q 2Q 3Q 4Q Full Year

1Q

TOTAL SALES (1) $10,671 $11,731 $12,311 $11,488 $11,738 $47,267 -9
PHARMACEUTICAL 8,891 10,082 10,560 9,875 10,085 40,601 -12
Primary Care and Women's Health
Cardiovascular
Zetia 629 614 632 645 676 2,567 2
Vytorin 394 444 445 423 435 1,747 -11
Diabetes & Obesity
Januvia 884 919 1,058 975 1,134 4,086 -4
Janumet 409 392 411 405 452 1,659 4
Respiratory
Nasonex 385 375 293 292 308 1,268 3
Singulair 337 1,340 1,431 602 480 3,853 -75
Dulera 68 39 50 52 67 207 76
Asmanex 40 48 51 42 44 185 -16
Women's Health & Endocrine
NuvaRing 151 146 157 156 164 623 4
Fosamax 137 184 186 152 154 676 -26
Follistim AQ 122 116 125 111 116 468 5
Implanon 84 76 85 93 94 348 12
Cerazette 61 67 72 64 68 271 -9
Other
Arcoxia 121 112 117 109 115 453 8
Avelox 36 73 44 30 55 201 -51
Hospital and Specialty
Immunology
Remicade 549 519 518 490 549 2,076 6
Simponi 108 74 76 86 95 331 46
Infectious Disease
Isentress 362 337 398 399 381 1,515 8
Cancidas 162 145 166 163 145 619 12
PegIntron 126 162 183 165 143 653 -23
Victrelis 110 111 126 149 115 502 -1
Invanz 110 101 110 118 116 445 9
Noxafil 65 59 66 66 68 258 11
Oncology
Temodar 216 237 225 227 229 917 -9
Emend 116 102 145 111 131 489 14
Other
Cosopt / Trusopt 105 124 105 102 113 444 -15
Bridion 63 58 60 68 75 261 8
Integrilin 47 53 60 48 51 211 -11
Diversified Brands
Cozaar / Hyzaar 267 336 337 295 315 1,284 -21
Primaxin 84 88 104 109 83 384 -5
Zocor 82 103 96 86 98 383 -20
Claritin Rx 76 87 48 47 63 244 -13
Propecia 68 108 100 104 112 424 -37
Clarinex 61 134 140 64 56 393 -55
Remeron 52 57 66 52 57 232 -8
Maxalt 40 156 154 166 162 638 -74
Proscar 39 51 55 55 56 217 -23
Vaccines
Gardasil 390 284 324 581 442 1,631 37
ProQuad, M-M-R II and Varivax 272 255 316 396 306 1,273 7
Zostavax 168 76 148 202 225 651 *
RotaTeq 162 142 142 150 168 601 14
Pneumovax 23 111 112 101 160 208 580 -1
Other Pharmaceutical (2) 1,022 1,066 1,034 1,065 1,161 4,333 -4
ANIMAL HEALTH 840 821 865 815 898 3,399 2
CONSUMER CARE 571 554 552 451 395 1,952 3
Claritin OTC 177 169 145 118 100 532 5
Other Revenues (3) 369 274 333 347 360 1,315 34
Astra 262 186 223 255 251 915 41
* 100% or greater
Sum of quarterly amounts may not equal year-to-date amounts due to rounding.
(1) Only select products are shown.
(2) Includes Pharmaceutical products not individually shown above. Other Vaccines sales included in Other Pharmaceutical were $53 million for the first quarter of 2013. Other Vaccines sales included in Other Pharmaceutical were $60 million, $75 million, $116 million, and $69 million for the first, second, third, and fourth quarters of 2012, respectively.
(3) Other revenues are primarily comprised of alliance revenue, miscellaneous corporate revenues and third party manufacturing sales.

 

 

 

 

Contacts

Merck
Media Contacts:
Steve Cragle, 908-423-3461
Kelley Dougherty, 908-423-4291
or
Investor Contacts:
Carol Ferguson, 908-423-4465
Alex Kelly, 908-423-5185


Source: Merck





BiomedReports is not paid or compensated to report news and developments about publicly traded companies. Full disclosure can be read in the About Us Section

Add this page to your favorite Social Bookmarking websites
Digg! Reddit! Del.icio.us! Mixx! Google! Live! Facebook! Technorati! StumbleUpon! MySpace! Yahoo!
 

Newsletter

BioMedReports PlasmaTech Announces Reverse Stock Split, Launches New Corporate Website; CEL-SCI Announces Closing of Public ... http://t.co/Aq9prl12iE
BioMedReports Active Stocks: IsoRay, IDEXX Laboratories, Shire plc, IGI Laboratories, Vitae Pharmaceuticals: U.S. stocks we... http://t.co/fARYOjILAh
BioMedReports Stellar Biotechnologies and Biovest International Sign KLH Supply Agreement for BiovaxID Immunotherapy for Fol... http://t.co/VxnRk1v5yZ
navigation
Benzinga.com supporter Seeking Alpha Certified