UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 19, 2013 (February 14, 2013)
Merck & Co., Inc.
(Exact Name of Registrant as Specified in Its Charter)
New Jersey
(State or Other Jurisdiction of Incorporation)
1-6571 |
|
22-1918501 |
(Commission File Number) |
|
(I.R.S. Employer Identification No.) |
One Merck Drive, PO Box 100, Whitehouse Station, NJ |
|
08889-0100 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrants Telephone Number, Including Area Code (908) 423-1000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02. Results of Operations and Financial Condition.
The following information, including the exhibits hereto, is being furnished pursuant to this Item 2.02.
Incorporated by reference is a press release issued by the Registrant on February 14, 2013, entitled Merck Resolves Securities Class-Action Lawsuits Related to the ENHANCE Trial, attached as Exhibit 99.1. Also incorporated by reference is certain supplemental information not included in the press release, attached as Exhibit 99.2. This supplemental information consists of financial tables which were originally furnished by the Registrant as part of Exhibits 99.1 and 99.2 to a Form 8-K dated February 1, 2013. Certain of these tables have been amended where appropriate to reflect the settlement of the litigation referred to in Exhibit 99.1.
This information shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that Section, and is not incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit 99.1 |
|
Press release issued February 14, 2013 entitled Merck Resolves Securities Class-Action Lawsuits Related to the ENHANCE Trial |
|
|
|
Exhibit 99.2 |
|
Certain supplemental information not included in the press release |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Merck & Co., Inc. | |
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| |
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| |
Date: February 19, 2013 |
By: |
/s/ Katie E. Fedosz |
|
|
KATIE E. FEDOSZ |
|
|
Senior Assistant Secretary |
Exhibit 99.1
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News Release | |
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|
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Media Contacts: |
Ron Rogers |
Investor Contacts: |
|
Carol Ferguson |
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(908) 423-6449 |
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(908) 423-4465 |
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|
|
Steve Cragle |
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|
Justin Holko |
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(908) 423-3461 |
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(908) 423-5088 |
Merck Resolves Securities Class-Action Lawsuits Related to the ENHANCE Trial
The Company Records $493 Million Charge Reducing 2012 GAAP Results
WHITEHOUSE STATION, N.J., Feb. 14, 2013 Merck, known as MSD outside the United States and Canada, announced today that it has reached an agreement in principle with plaintiffs to resolve two federal securities class-action lawsuits. The suits are pending in the U.S. District Court for the District of New Jersey against Merck, Schering-Plough Corporation and certain of their current and former officers and directors.
Under the proposed agreement, which will have no impact on Mercks 2013 results of operations, the company will pay $215 million to resolve the securities class action against all of the Merck defendants and $473 million to resolve the securities class action against all of the Schering-Plough defendants. In connection with the settlement, Merck recorded a pre-tax and after-tax charge of $493 million, which reflects anticipated insurance recoveries. This charge reduced the companys previously reported fourth-quarter 2012 GAAP (generally accepted accounting principles) EPS (earnings per share) results from $0.46 to $0.30 per share and full-year 2012 GAAP results from $2.16 to $2.00 per share, but did not change its previously reported non-GAAP results.
The plaintiffs are investors who purchased certain securities issued by Merck and Schering-Plough between December 2006 and March 2008 and claim that they lost money when the results of the ENHANCE trial were published in early 2008. Merck continues to believe that both companies acted responsibly in connection with the ENHANCE study, and this agreement contains no admission of liability or wrongdoing. The agreement is subject to court approval.
This agreement avoids the uncertainties of a jury trial and will resolve all of the remaining litigation in connection with the ENHANCE study, said Bruce N. Kuhlik, executive vice president and general counsel of Merck. We believe it is in the best interests of the company and its shareholders to put this matter behind us, and to continue our focus on scientific innovations that improve health worldwide.
Judge Dennis M. Cavanaugh is presiding over the cases. Merck is represented by Theodore V. Wells, Jr. and Daniel J. Kramer of Paul, Weiss, Rifkind, Wharton & Garrison LLP.
About Merck
Todays 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 Mercks management and are subject to significant risks and uncertainties. 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; Mercks ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of Mercks 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 Mercks 2011 Annual Report on Form 10-K and the companys other filings with the Securities and Exchange Commission (SEC) available at the SECs Internet site (www.sec.gov).
###
Exhibit 99.2
MERCK & CO., INC.
CONSOLIDATED STATEMENT OF OPERATIONS - GAAP
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 1
|
|
GAAP |
|
|
|
GAAP |
|
|
| ||||||||||
|
|
4Q12 |
|
4Q11 |
|
% Change |
|
Full Year |
|
Full Year |
|
% Change |
| ||||||
Sales |
|
$ |
11,738 |
|
$ |
12,294 |
|
-5 |
% |
|
$ |
47,267 |
|
$ |
48,047 |
|
-2 |
% |
|
Costs, Expenses and Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Materials and production (1) |
|
4,160 |
|
4,176 |
|
|
|
|
16,446 |
|
16,871 |
|
-3 |
% |
| ||||
Marketing and administrative (1) |
|
3,390 |
|
3,704 |
|
-8 |
% |
|
12,776 |
|
13,733 |
|
-7 |
% |
| ||||
Research and development (1) |
|
2,224 |
|
2,419 |
|
-8 |
% |
|
8,168 |
|
8,467 |
|
-4 |
% |
| ||||
Restructuring costs (2) |
|
191 |
|
533 |
|
-64 |
% |
|
664 |
|
1,306 |
|
-49 |
% |
| ||||
Equity income from affiliates (3) |
|
(231 |
) |
(257 |
) |
-10 |
% |
|
(642 |
) |
(610 |
) |
5 |
% |
| ||||
Other (income) expense, net (1)(4) |
|
669 |
|
139 |
|
* |
|
|
1,116 |
|
946 |
|
18 |
% |
| ||||
Income Before Taxes |
|
1,335 |
|
1,580 |
|
-16 |
% |
|
8,739 |
|
7,334 |
|
19 |
% |
| ||||
Income Tax Provision |
|
385 |
|
37 |
|
|
|
|
2,440 |
|
942 |
|
|
|
| ||||
Net Income |
|
950 |
|
1,543 |
|
-38 |
|
|
6,299 |
|
6,392 |
|
-1 |
% |
| ||||
Less: Net Income Attributable to Noncontrolling Interests |
|
42 |
|
31 |
|
|
|
|
131 |
|
120 |
|
|
|
| ||||
Net Income Attributable to Merck & Co., Inc. |
|
$ |
908 |
|
$ |
1,512 |
|
-40 |
|
|
$ |
6,168 |
|
$ |
6,272 |
|
-2 |
% |
|
Earnings per Common Share Assuming Dilution (5) |
|
$ |
0.30 |
|
$ |
0.49 |
|
-39 |
|
|
$ |
2.00 |
|
$ |
2.02 |
|
-1 |
% |
|
Average Shares Outstanding Assuming Dilution |
|
3,074 |
|
3,069 |
|
|
|
|
3,076 |
|
3,094 |
|
|
|
| ||||
Tax Rate (6) |
|
28.8 |
% |
2.3 |
% |
|
|
|
27.9 |
% |
12.8 |
% |
|
|
|
* 100% or greater
(1) Amounts include the impact of acquisition-related costs, restructuring costs and certain other items. See accompanying tables for details.
(2) Represents separation and other related costs associated with restructuring activities under the companys formal restructuring programs.
(3) Primarily reflects equity income from the AstraZeneca LP and Sanofi Pasteur MSD partnerships.
(4) Other (income) expense, net in the fourth quarter and full year of 2012 reflect a $493 million net charge related to a litigation settlement. Other (income) expense, net in the full year of 2011 includes a charge of $500 million related to the resolution of the arbitration proceeding with Johnson & Johnson, a $136 million gain on the divestiture of the companys interest in the Johnson & JohnsonºMerck Consumer Pharmaceuticals Company joint venture and a $127 million gain on the sale of certain manufacturing facilities and related assets.
(5) The company calculates earnings per share pursuant to the two-class method which requires the allocation of net income between common shareholders and participating security holders. Net income attributable to Merck & Co., Inc. common shareholders used to calculate earnings per common share assuming dilution was $908 million and $1,510 million for the fourth quarter of 2012 and 2011, respectively, and was $6,165 million and $6,257 million for the full year of 2012 and 2011, respectively.
(6) The GAAP effective tax rates for the fourth quarter and full year of 2012 were 28.8% and 27.9%, respectively. Excluding the impact of the non-GAAP reconciling items detailed in the accompanying tables, the effective tax rates were 23.6% and 23.8% for the fourth quarter and full year of 2012, respectively. Both the GAAP and non-GAAP effective tax rates for the fourth quarter and full year of 2012 reflect a favorable ruling on a state tax matter. In addition, both the GAAP and non-GAAP effective tax rates for the full year of 2012 reflect the favorable impacts of a settlement with a foreign tax authority and the realization of foreign tax credits. The GAAP effective tax rates for the fourth quarter and full year of 2011 were 2.3% and 12.8%, respectively. Excluding the impact of the non-GAAP reconciling items detailed in the accompanying tables, the effective tax rates were 19.9% and 23.4% for the fourth quarter and full year of 2011, respectively.
MERCK & CO., INC.
CONSOLIDATED STATEMENT OF OPERATIONS - GAAP
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 1a
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|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
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| |
|
|
2012 |
|
2011 |
|
% Change |
| |||||||||||||||||||||||||||||
|
|
1Q |
|
2Q |
|
3Q |
|
4Q |
|
Full Year |
|
1Q |
|
2Q |
|
3Q |
|
4Q |
|
Full Year |
|
4Q |
|
Full Year |
| |||||||||||
Sales |
|
$ |
11,731 |
|
$ |
12,311 |
|
$ |
11,488 |
|
$ |
11,738 |
|
$ |
47,267 |
|
$ |
11,580 |
|
$ |
12,151 |
|
$ |
12,022 |
|
$ |
12,294 |
|
$ |
48,047 |
|
-5 |
% |
-2% |
|
|
Costs, Expenses and Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Materials and production |
|
4,037 |
|
4,112 |
|
4,137 |
|
4,160 |
|
16,446 |
|
4,059 |
|
4,284 |
|
4,352 |
|
4,176 |
|
16,871 |
|
|
|
-3% |
|
| ||||||||||
Marketing and administrative |
|
3,074 |
|
3,249 |
|
3,063 |
|
3,390 |
|
12,776 |
|
3,164 |
|
3,525 |
|
3,340 |
|
3,704 |
|
13,733 |
|
-8 |
% |
-7% |
|
| ||||||||||
Research and development |
|
1,862 |
|
2,165 |
|
1,918 |
|
2,224 |
|
8,168 |
|
2,158 |
|
1,936 |
|
1,954 |
|
2,419 |
|
8,467 |
|
-8 |
% |
-4% |
|
| ||||||||||
Restructuring costs |
|
219 |
|
144 |
|
110 |
|
191 |
|
664 |
|
(14 |
) |
668 |
|
119 |
|
533 |
|
1,306 |
|
-64 |
% |
-49% |
|
| ||||||||||
Equity income from affiliates |
|
(110 |
) |
(142 |
) |
(158 |
) |
(231 |
) |
(642 |
) |
(138 |
) |
(55 |
) |
(161 |
) |
(257 |
) |
(610 |
) |
-10 |
% |
5% |
|
| ||||||||||
Other (income) expense, net |
|
142 |
|
103 |
|
200 |
|
669 |
|
1,116 |
|
622 |
|
121 |
|
66 |
|
139 |
|
946 |
|
* |
|
18% |
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Income Before Taxes |
|
2,507 |
|
2,680 |
|
2,218 |
|
1,335 |
|
8,739 |
|
1,729 |
|
1,672 |
|
2,352 |
|
1,580 |
|
7,334 |
|
-16 |
% |
19% |
|
| ||||||||||
Income Tax Provision (Benefit) |
|
740 |
|
860 |
|
455 |
|
385 |
|
2,440 |
|
658 |
|
(382 |
) |
628 |
|
37 |
|
942 |
|
|
|
|
|
| ||||||||||
Net Income |
|
1,767 |
|
1,820 |
|
1,763 |
|
950 |
|
6,299 |
|
1,071 |
|
2,054 |
|
1,724 |
|
1,543 |
|
6,392 |
|
-38 |
% |
-1% |
|
| ||||||||||
Less: Net Income Attributable to Noncontrolling Interests |
|
29 |
|
27 |
|
34 |
|
42 |
|
131 |
|
28 |
|
30 |
|
32 |
|
31 |
|
120 |
|
|
|
|
|
| ||||||||||
Net Income Attributable to Merck & Co., Inc. |
|
$ |
1,738 |
|
$ |
1,793 |
|
$ |
1,729 |
|
$ |
908 |
|
$ |
6,168 |
|
$ |
1,043 |
|
$ |
2,024 |
|
$ |
1,692 |
|
$ |
1,512 |
|
$ |
6,272 |
|
-40 |
% |
-2% |
|
|
Earnings per Common Share Assuming Dilution |
|
$ |
0.56 |
|
$ |
0.58 |
|
$ |
0.56 |
|
$ |
0.30 |
|
$ |
2.00 |
|
$ |
0.34 |
|
$ |
0.65 |
|
$ |
0.55 |
|
$ |
0.49 |
|
$ |
2.02 |
|
-39 |
% |
-1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Average Shares Outstanding Assuming Dilution |
|
3,074 |
|
3,072 |
|
3,079 |
|
3,074 |
|
3,076 |
|
3,104 |
|
3,110 |
|
3,091 |
|
3,069 |
|
3,094 |
|
|
|
|
|
| ||||||||||
Tax Rate |
|
29.5 |
% |
32.1 |
% |
20.5 |
% |
28.8 |
% |
27.9 |
% |
38.1 |
% |
-22.8 |
% |
26.7 |
% |
2.3 |
% |
12.8 |
% |
|
|
|
|
|
* 100% or greater
Sum of quarterly amounts may not equal year-to-date amounts due to rounding.
MERCK & CO., INC.
CONSOLIDATED STATEMENT OF OPERATIONS
GAAP TO NON-GAAP RECONCILIATION
FOURTH QUARTER 2012
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 2a
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP |
|
Acquisition- |
|
Restructuring |
|
Certain Other |
|
Adjustment |
|
Non-GAAP |
|
Sales |
|
$11,738 |
|
|
|
|
|
|
|
$ |
|
$11,738 |
|
Costs, Expenses and Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
Materials and production |
|
4,160 |
|
1,185 |
|
40 |
|
|
|
1,225 |
|
2,935 |
|
Marketing and administrative |
|
3,390 |
|
89 |
|
20 |
|
|
|
109 |
|
3,281 |
|
Research and development |
|
2,224 |
|
24 |
|
3 |
|
|
|
27 |
|
2,197 |
|
Restructuring costs |
|
191 |
|
|
|
191 |
|
|
|
191 |
|
|
|
Equity income from affiliates |
|
(231 |
) |
|
|
|
|
|
|
|
|
(231 |
) |
Other (income) expense, net |
|
669 |
|
|
|
|
|
493 |
|
493 |
|
176 |
|
Income Before Taxes |
|
1,335 |
|
(1,298 |
) |
(254 |
) |
(493 |
) |
(2,045 |
) |
3,380 |
|
Taxes on Income |
|
385 |
|
|
|
|
|
|
|
(413 |
)(4) |
798 |
|
Net Income |
|
950 |
|
|
|
|
|
|
|
(1,632 |
) |
2,582 |
|
Less: Net Income Attributable to Noncontrolling Interests |
|
42 |
|
|
|
|
|
|
|
|
|
42 |
|
Net Income Attributable to Merck & Co., Inc. |
|
$908 |
|
|
|
|
|
|
|
$(1,632 |
) |
$2,540 |
|
Earnings per Common Share Assuming Dilution |
|
$0.30 |
|
|
|
|
|
|
|
|
|
$0.83 |
(5) |
Average Shares Outstanding Assuming Dilution |
|
3,074 |
|
|
|
|
|
|
|
|
|
3,074 |
|
Tax Rate |
|
28.8 |
% |
|
|
|
|
|
|
|
|
23.6 |
% |
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 companys 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 companys formal restructuring programs.
(3) Represents a net charge related to a litigation settlement.
(4) Represents the estimated tax impact on the reconciling items.
(5) The company calculates earnings per share pursuant to the two-class method which requires the allocation of net income between common shareholders and participating security holders. Net income attributable to Merck & Co., Inc. common shareholders used to calculate non-GAAP earnings per common share assuming dilution was $2,540 million for the fourth quarter of 2012.
MERCK & CO., INC.
CONSOLIDATED STATEMENT OF OPERATIONS
GAAP TO NON-GAAP RECONCILIATION
FULL YEAR 2012
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 2b
|
|
GAAP |
|
Acquisition- |
|
Restructuring |
|
Certain Other |
|
Adjustment |
|
Non-GAAP |
| |||
Sales |
|
$ |
47,267 |
|
|
|
|
|
|
|
$ |
|
|
$ |
47,267 |
|
Costs, Expenses and Other |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Materials and production |
|
16,446 |
|
4,872 |
|
188 |
|
|
|
5,060 |
|
11,386 |
| |||
Marketing and administrative |
|
12,776 |
|
272 |
|
90 |
|
|
|
362 |
|
12,414 |
| |||
Research and development |
|
8,168 |
|
200 |
|
57 |
|
|
|
257 |
|
7,911 |
| |||
Restructuring costs |
|
664 |
|
|
|
664 |
|
|
|
664 |
|
|
| |||
Equity income from affiliates |
|
(642 |
) |
|
|
|
|
|
|
|
|
(642 |
) | |||
Other (income) expense, net |
|
1,116 |
|
|
|
|
|
493 |
|
493 |
|
623 |
| |||
Income Before Taxes |
|
8,739 |
|
(5,344 |
) |
(999 |
) |
(493 |
) |
(6,836 |
) |
15,575 |
| |||
Taxes on Income |
|
2,440 |
|
|
|
|
|
|
|
(1,261 |
)(4) |
3,701 |
| |||
Net Income |
|
6,299 |
|
|
|
|
|
|
|
(5,575 |
) |
11,874 |
| |||
Less: Net Income Attributable to Noncontrolling Interests |
|
131 |
|
|
|
|
|
|
|
|
|
131 |
| |||
Net Income Attributable to Merck & Co., Inc. |
|
$ |
6,168 |
|
|
|
|
|
|
|
$ |
(5,575 |
) |
$ |
11,743 |
|
Earnings per Common Share Assuming Dilution |
|
$ |
2.00 |
|
|
|
|
|
|
|
|
|
$ |
3.82 |
(5) | |
Average Shares Outstanding Assuming Dilution |
|
3,076 |
|
|
|
|
|
|
|
|
|
3,076 |
| |||
Tax Rate |
|
27.9 |
% |
|
|
|
|
|
|
|
|
23.8 |
% |
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 companys 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 companys formal restructuring programs.
(3) Represents a net charge related to a litigation settlement.
(4) Represents the estimated tax impact on the reconciling items.
(5) The company calculates earnings per share pursuant to the two-class method which requires the allocation of net income between common shareholders and participating security holders. Net income attributable to Merck & Co., Inc. common shareholders used to calculate non-GAAP earnings per common share assuming dilution was $11,738 million for the full year of 2012.
MERCK & CO., INC.
CONSOLIDATED STATEMENT OF OPERATIONS
GAAP TO NON-GAAP RECONCILIATION
FOURTH QUARTER 2011
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 2c
|
|
GAAP |
|
Acquisition- |
|
Restructuring |
|
Certain Other |
|
Adjustment |
|
Non-GAAP |
| |||
Sales |
|
$ |
12,294 |
|
|
|
|
|
|
|
$ |
|
|
$ |
12,294 |
|
Costs, Expenses and Other |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Materials and production |
|
4,176 |
|
1,212 |
|
68 |
|
7 |
|
1,287 |
|
2,889 |
| |||
Marketing and administrative |
|
3,704 |
|
86 |
|
42 |
|
|
|
128 |
|
3,576 |
| |||
Research and development |
|
2,419 |
|
244 |
|
49 |
|
|
|
293 |
|
2,126 |
| |||
Restructuring costs |
|
533 |
|
|
|
533 |
|
|
|
533 |
|
|
| |||
Equity income from affiliates |
|
(257 |
) |
|
|
|
|
|
|
|
|
(257 |
) | |||
Other (income) expense, net |
|
139 |
|
(63 |
) |
|
|
(1 |
) |
(64 |
) |
203 |
| |||
Income Before Taxes |
|
1,580 |
|
(1,479 |
) |
(692 |
) |
(6 |
) |
(2,177 |
) |
3,757 |
| |||
Taxes on Income |
|
37 |
|
|
|
|
|
|
|
(711 |
)(3) |
748 |
| |||
Net Income |
|
1,543 |
|
|
|
|
|
|
|
(1,466 |
) |
3,009 |
| |||
Less: Net Income Attributable to Noncontrolling Interests |
|
31 |
|
|
|
|
|
|
|
|
|
31 |
| |||
Net Income Attributable to Merck & Co., Inc. |
|
$ |
1,512 |
|
|
|
|
|
|
|
$ |
(1,466 |
) |
$ |
2,978 |
|
Earnings per Common Share Assuming Dilution |
|
$ |
0.49 |
|
|
|
|
|
|
|
|
|
$ |
0.97 |
(4) | |
Average Shares Outstanding Assuming Dilution |
|
3,069 |
|
|
|
|
|
|
|
|
|
3,069 |
| |||
Tax Rate |
|
2.3 |
% |
|
|
|
|
|
|
|
|
19.9 |
% |
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 companys 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 and the amortization of purchase accounting adjustments to inventories recognized as a result of mergers and acquisitions. Amounts included in marketing and administrative expenses reflect integration costs, as well as other costs associated with mergers and acquisitions, such as severance costs which are not part of the companys formal restructuring programs. Amounts included in research and development expenses represent in-process research and development (IPR&D) impairment charges. Amounts included in other (income) expense, net reflect the favorable resolution of certain reserves assumed in conjunction with mergers and acquisitions.
(2) Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to actions under the companys formal restructuring programs.
(3) Includes the favorable impact of certain state tax rate changes that resulted in a net $40 million reduction of deferred tax liabilities on intangibles established in purchase accounting, as well as the estimated tax impact on the reconciling items.
(4) The company calculates earnings per share pursuant to the two-class method which requires the allocation of net income between common shareholders and participating security holders. Net income attributable to Merck & Co., Inc. common shareholders used to calculate non-GAAP earnings per common share assuming dilution was $2,973 million for the fourth quarter of 2011.
MERCK & CO., INC.
CONSOLIDATED STATEMENT OF OPERATIONS
GAAP TO NON-GAAP RECONCILIATION
FULL YEAR 2011
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 2d
|
|
GAAP |
|
Acquisition- |
|
Restructuring |
|
Certain Other |
|
Adjustment |
|
Non-GAAP |
| |||
Sales |
|
$ |
48,047 |
|
|
|
|
|
|
|
$ |
|
|
$ |
48,047 |
|
Costs, Expenses and Other |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Materials and production |
|
16,871 |
|
5,137 |
|
348 |
|
7 |
|
5,492 |
|
11,379 |
| |||
Marketing and administrative |
|
13,733 |
|
278 |
|
119 |
|
|
|
397 |
|
13,336 |
| |||
Research and development |
|
8,467 |
|
587 |
|
138 |
|
|
|
725 |
|
7,742 |
| |||
Restructuring costs |
|
1,306 |
|
|
|
1,306 |
|
|
|
1,306 |
|
|
| |||
Equity income from affiliates |
|
(610 |
) |
|
|
|
|
|
|
|
|
(610 |
) | |||
Other (income) expense, net |
|
946 |
|
(63 |
) |
|
|
235 |
|
172 |
|
774 |
| |||
Income Before Taxes |
|
7,334 |
|
(5,939 |
) |
(1,911 |
) |
(242 |
) |
(8,092 |
) |
15,426 |
| |||
Taxes on Income |
|
942 |
|
|
|
|
|
|
|
(2,667 |
)(4) |
3,609 |
| |||
Net Income |
|
6,392 |
|
|
|
|
|
|
|
(5,425 |
) |
11,817 |
| |||
Less: Net Income Attributable to Noncontrolling Interests |
|
120 |
|
|
|
|
|
|
|
|
|
120 |
| |||
Net Income Attributable to Merck & Co., Inc. |
|
$ |
6,272 |
|
|
|
|
|
|
|
$ |
(5,425 |
) |
$ |
11,697 |
|
Earnings per Common Share Assuming Dilution |
|
$ |
2.02 |
|
|
|
|
|
|
|
|
|
$ |
3.77 |
(5) | |
Average Shares Outstanding Assuming Dilution |
|
3,094 |
|
|
|
|
|
|
|
|
|
3,094 |
| |||
Tax Rate |
|
12.8 |
% |
|
|
|
|
|
|
|
|
23.4 |
% |
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 companys 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 of $5.0 billion for the amortization of intangible assets and the amortization of purchase accounting adjustments to inventories recognized as a result of mergers and acquisitions, as well as $118 million of impairment charges on product intangibles. Amounts included in marketing and administrative expenses reflect integration costs, as well as other costs associated with mergers and acquisitions, such as severance costs which are not part of the companys formal restructuring programs. Amounts included in research and development expenses represent in-process research and development (IPR&D) impairment charges. Amounts included in other (income) expense, net reflect the favorable resolution of certain reserves assumed in conjunction with mergers and acquisitions.
(2) Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to actions under the companys formal restructuring programs.
(3) Included in other (income) expense, net is a $500 million charge related to the resolution of the arbitration proceeding with Johnson & Johnson, a $136 million gain on the divestiture of the companys interest in the Johnson & JohnsonºMerck Consumer Pharmaceuticals Company joint venture and a $127 million gain on the sale of certain manufacturing facilities and related assets.
(4) Includes a net benefit of approximately $700 million relating to the settlement of the companys 2002-2005 federal income tax audit, the favorable impact of certain foreign and state tax rate changes that resulted in a net $270 million reduction of deferred tax liabilities on intangibles established in purchase accounting, as well as the estimated tax impact on the reconciling items.
(5) The company calculates earnings per share pursuant to the two-class method which requires the allocation of net income between common shareholders and participating security holders. Net income attributable to Merck & Co., Inc. common shareholders used to calculate non-GAAP earnings per common share assuming dilution was $11,670 million for the full year of 2011.
MERCK & CO., INC.
FRANCHISE / KEY PRODUCT SALES
(AMOUNTS IN MILLIONS)
(UNAUDITED)
Table 3
|
|
2012 |
|
2011 |
|
% Change |
|
% Change |
| ||||||||||||||||||||||||||
|
|
1Q |
|
2Q |
|
3Q |
|
4Q |
|
Full Year |
|
1Q |
|
2Q |
|
3Q |
|
4Q |
|
Full Year |
|
4Q |
|
Full Year |
| ||||||||||
TOTAL SALES (1) |
|
$ |
11,731 |
|
$ |
12,311 |
|
$ |
11,488 |
|
$ |
11,738 |
|
$ |
47,267 |
|
$ |
11,580 |
|
$ |
12,151 |
|
$ |
12,022 |
|
$ |
12,294 |
|
$ |
48,047 |
|
-5 |
|
-2 |
|
PHARMACEUTICAL |
|
10,082 |
|
10,560 |
|
9,875 |
|
10,085 |
|
40,601 |
|
9,820 |
|
10,360 |
|
10,354 |
|
10,755 |
|
41,289 |
|
-6 |
|
-2 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Primary Care and Womens Health |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Cardiovascular |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Zetia |
|
614 |
|
632 |
|
645 |
|
676 |
|
2,567 |
|
582 |
|
592 |
|
614 |
|
640 |
|
2,428 |
|
6 |
|
6 |
| ||||||||||
Vytorin |
|
444 |
|
445 |
|
423 |
|
435 |
|
1,747 |
|
480 |
|
459 |
|
469 |
|
475 |
|
1,882 |
|
-8 |
|
-7 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Diabetes & Obesity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Januvia |
|
919 |
|
1,058 |
|
975 |
|
1,134 |
|
4,086 |
|
739 |
|
779 |
|
846 |
|
960 |
|
3,324 |
|
18 |
|
23 |
| ||||||||||
Janumet |
|
392 |
|
411 |
|
405 |
|
452 |
|
1,659 |
|
305 |
|
321 |
|
350 |
|
386 |
|
1,363 |
|
17 |
|
22 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Respiratory |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Singulair |
|
1,340 |
|
1,431 |
|
602 |
|
480 |
|
3,853 |
|
1,328 |
|
1,354 |
|
1,336 |
|
1,461 |
|
5,479 |
|
-67 |
|
-30 |
| ||||||||||
Nasonex |
|
375 |
|
293 |
|
292 |
|
308 |
|
1,268 |
|
373 |
|
323 |
|
266 |
|
325 |
|
1,286 |
|
-5 |
|
-1 |
| ||||||||||
Clarinex |
|
134 |
|
140 |
|
64 |
|
56 |
|
393 |
|
155 |
|
209 |
|
128 |
|
129 |
|
621 |
|
-57 |
|
-37 |
| ||||||||||
Dulera |
|
39 |
|
50 |
|
52 |
|
67 |
|
207 |
|
13 |
|
25 |
|
22 |
|
37 |
|
96 |
|
83 |
|
* |
| ||||||||||
Asmanex |
|
48 |
|
51 |
|
42 |
|
44 |
|
185 |
|
60 |
|
47 |
|
42 |
|
57 |
|
206 |
|
-23 |
|
-10 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Womens Health & Endocrine |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Fosamax |
|
184 |
|
186 |
|
152 |
|
154 |
|
676 |
|
208 |
|
221 |
|
215 |
|
211 |
|
855 |
|
-27 |
|
-21 |
| ||||||||||
NuvaRing |
|
146 |
|
157 |
|
156 |
|
164 |
|
623 |
|
142 |
|
154 |
|
159 |
|
168 |
|
623 |
|
-2 |
|
|
| ||||||||||
Follistim AQ |
|
116 |
|
125 |
|
111 |
|
116 |
|
468 |
|
133 |
|
143 |
|
129 |
|
126 |
|
530 |
|
-8 |
|
-12 |
| ||||||||||
Implanon |
|
76 |
|
85 |
|
93 |
|
94 |
|
348 |
|
60 |
|
81 |
|
80 |
|
74 |
|
294 |
|
27 |
|
18 |
| ||||||||||
Cerazette |
|
67 |
|
72 |
|
64 |
|
68 |
|
271 |
|
59 |
|
66 |
|
74 |
|
69 |
|
268 |
|
-1 |
|
1 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Maxalt |
|
156 |
|
154 |
|
166 |
|
162 |
|
638 |
|
173 |
|
131 |
|
156 |
|
178 |
|
639 |
|
-9 |
|
|
| ||||||||||
Arcoxia |
|
112 |
|
117 |
|
109 |
|
115 |
|
453 |
|
114 |
|
100 |
|
108 |
|
110 |
|
431 |
|
5 |
|
5 |
| ||||||||||
Avelox |
|
73 |
|
44 |
|
30 |
|
55 |
|
201 |
|
106 |
|
61 |
|
59 |
|
95 |
|
322 |
|
-42 |
|
-37 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Hospital and Specialty |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Immunology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Remicade |
|
519 |
|
518 |
|
490 |
|
549 |
|
2,076 |
|
753 |
|
842 |
|
561 |
|
511 |
|
2,667 |
|
8 |
|
-22 |
| ||||||||||
Simponi |
|
74 |
|
76 |
|
86 |
|
95 |
|
331 |
|
54 |
|
75 |
|
74 |
|
61 |
|
264 |
|
56 |
|
25 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Infectious Disease |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Isentress |
|
337 |
|
398 |
|
399 |
|
381 |
|
1,515 |
|
292 |
|
337 |
|
343 |
|
387 |
|
1,359 |
|
-2 |
|
11 |
| ||||||||||
PegIntron |
|
162 |
|
183 |
|
165 |
|
143 |
|
653 |
|
166 |
|
154 |
|
163 |
|
175 |
|
657 |
|
-18 |
|
-1 |
| ||||||||||
Cancidas |
|
145 |
|
166 |
|
163 |
|
145 |
|
619 |
|
158 |
|
168 |
|
150 |
|
164 |
|
640 |
|
-11 |
|
-3 |
| ||||||||||
Victrelis |
|
111 |
|
126 |
|
149 |
|
115 |
|
502 |
|
1 |
|
21 |
|
31 |
|
87 |
|
140 |
|
32 |
|
* |
| ||||||||||
Invanz |
|
101 |
|
110 |
|
118 |
|
116 |
|
445 |
|
87 |
|
103 |
|
107 |
|
110 |
|
406 |
|
6 |
|
10 |
| ||||||||||
Primaxin |
|
88 |
|
104 |
|
109 |
|
83 |
|
384 |
|
136 |
|
136 |
|
124 |
|
119 |
|
515 |
|
-30 |
|
-25 |
| ||||||||||
Noxafil |
|
59 |
|
66 |
|
66 |
|
68 |
|
258 |
|
55 |
|
56 |
|
61 |
|
59 |
|
230 |
|
15 |
|
13 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Oncology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Temodar |
|
237 |
|
225 |
|
227 |
|
229 |
|
917 |
|
248 |
|
234 |
|
223 |
|
230 |
|
935 |
|
-1 |
|
-2 |
| ||||||||||
Emend |
|
102 |
|
145 |
|
111 |
|
131 |
|
489 |
|
87 |
|
120 |
|
98 |
|
114 |
|
419 |
|
16 |
|
17 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Cosopt / Trusopt |
|
124 |
|
105 |
|
102 |
|
113 |
|
444 |
|
114 |
|
122 |
|
124 |
|
117 |
|
477 |
|
-3 |
|
-7 |
| ||||||||||
Bridion |
|
58 |
|
60 |
|
68 |
|
75 |
|
261 |
|
41 |
|
47 |
|
52 |
|
60 |
|
201 |
|
26 |
|
30 |
| ||||||||||
Integrilin |
|
53 |
|
60 |
|
48 |
|
51 |
|
211 |
|
64 |
|
56 |
|
53 |
|
57 |
|
230 |
|
-11 |
|
-8 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Diversified Brands |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Cozaar / Hyzaar |
|
336 |
|
337 |
|
295 |
|
315 |
|
1,284 |
|
426 |
|
406 |
|
404 |
|
427 |
|
1,663 |
|
-26 |
|
-23 |
| ||||||||||
Propecia |
|
108 |
|
100 |
|
104 |
|
112 |
|
424 |
|
106 |
|
112 |
|
112 |
|
117 |
|
447 |
|
-4 |
|
-5 |
| ||||||||||
Zocor |
|
103 |
|
96 |
|
86 |
|
98 |
|
383 |
|
127 |
|
107 |
|
110 |
|
111 |
|
456 |
|
-12 |
|
-16 |
| ||||||||||
Claritin Rx |
|
87 |
|
48 |
|
47 |
|
63 |
|
244 |
|
120 |
|
65 |
|
55 |
|
74 |
|
314 |
|
-15 |
|
-22 |
| ||||||||||
Remeron |
|
57 |
|
66 |
|
52 |
|
57 |
|
232 |
|
60 |
|
57 |
|
65 |
|
59 |
|
241 |
|
-4 |
|
-4 |
| ||||||||||
Proscar |
|
51 |
|
55 |
|
55 |
|
56 |
|
217 |
|
60 |
|
53 |
|
58 |
|
52 |
|
223 |
|
7 |
|
-3 |
| ||||||||||
Vasotec / Vaseretic |
|
53 |
|
49 |
|
42 |
|
48 |
|
192 |
|
57 |
|
59 |
|
57 |
|
58 |
|
231 |
|
-17 |
|
-17 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Vaccines |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Gardasil |
|
284 |
|
324 |
|
581 |
|
442 |
|
1,631 |
|
214 |
|
277 |
|
445 |
|
274 |
|
1,209 |
|
61 |
|
35 |
| ||||||||||
ProQuad, M-M-R II and Varivax |
|
255 |
|
316 |
|
396 |
|
306 |
|
1,273 |
|
244 |
|
291 |
|
391 |
|
276 |
|
1,202 |
|
11 |
|
6 |
| ||||||||||
Zostavax |
|
76 |
|
148 |
|
202 |
|
225 |
|
651 |
|
24 |
|
122 |
|
108 |
|
78 |
|
332 |
|
* |
|
96 |
| ||||||||||
RotaTeq |
|
142 |
|
142 |
|
150 |
|
168 |
|
601 |
|
125 |
|
148 |
|
184 |
|
195 |
|
651 |
|
-14 |
|
-8 |
| ||||||||||
Pneumovax |
|
112 |
|
101 |
|
160 |
|
208 |
|
580 |
|
79 |
|
64 |
|
133 |
|
222 |
|
498 |
|
-7 |
|
17 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Other Pharmaceutical (2) |
|
1,013 |
|
985 |
|
1,023 |
|
1,113 |
|
4,141 |
|
892 |
|
1,064 |
|
1,015 |
|
1,064 |
|
4,035 |
|
5 |
|
3 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
ANIMAL HEALTH |
|
821 |
|
865 |
|
815 |
|
898 |
|
3,399 |
|
758 |
|
802 |
|
826 |
|
868 |
|
3,253 |
|
3 |
|
4 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
CONSUMER CARE |
|
554 |
|
552 |
|
451 |
|
395 |
|
1,952 |
|
517 |
|
541 |
|
421 |
|
361 |
|
1,840 |
|
9 |
|
6 |
| ||||||||||
Claritin OTC |
|
169 |
|
145 |
|
118 |
|
100 |
|
532 |
|
167 |
|
134 |
|
118 |
|
92 |
|
511 |
|
9 |
|
4 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Other Revenues (3) |
|
274 |
|
333 |
|
347 |
|
360 |
|
1,315 |
|
486 |
|
448 |
|
421 |
|
310 |
|
1,666 |
|
16 |
|
-21 |
| ||||||||||
Astra |
|
186 |
|
223 |
|
255 |
|
251 |
|
915 |
|
322 |
|
306 |
|
299 |
|
256 |
|
1,184 |
|
-2 |
|
-23 |
| ||||||||||
* 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 $60 million, $75 million, $116 million, and $69 million for the first, second, third, and fourth quarters of 2012, respectively. Other Vaccines sales included in Other Pharmaceutical were $54 million, $67 million, $100 million and $62 million for the first, second, third and fourth quarters of 2011, respectively.
(3) Other revenues are primarily comprised of alliance revenue, miscellaneous corporate revenues and third party manufacturing sales.
MERCK & CO., INC.
FRANCHISE / KEY PRODUCT SALES
FOURTH QUARTER 2012
(AMOUNTS IN MILLIONS)
(UNAUDITED)
Table 3a
|
|
Global |
|
U.S. |
|
International |
| ||||||||||||||||||
|
|
4Q12 |
|
4Q11 |
|
% Change |
|
4Q12 |
|
4Q11 |
|
% Change |
|
4Q12 |
|
4Q11 |
|
% Change |
| ||||||
TOTAL SALES (1) |
|
$ |
11,738 |
|
$ |
12,294 |
|
-5 |
|
$ |
4,716 |
|
$ |
5,296 |
|
-11 |
|
$ |
7,022 |
|
$ |
6,998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
PHARMACEUTICAL |
|
10,085 |
|
10,755 |
|
-6 |
|
3,915 |
|
4,606 |
|
-15 |
|
6,170 |
|
6,149 |
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Primary Care and Womens Health |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Cardiovascular |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Zetia |
|
676 |
|
640 |
|
6 |
|
345 |
|
327 |
|
5 |
|
331 |
|
313 |
|
6 |
| ||||||
Vytorin |
|
435 |
|
475 |
|
-8 |
|
186 |
|
213 |
|
-13 |
|
249 |
|
262 |
|
-5 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Diabetes & Obesity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Januvia |
|
1,134 |
|
960 |
|
18 |
|
565 |
|
503 |
|
13 |
|
568 |
|
457 |
|
24 |
| ||||||
Janumet |
|
452 |
|
386 |
|
17 |
|
237 |
|
193 |
|
23 |
|
215 |
|
193 |
|
12 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Respiratory |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Singulair |
|
480 |
|
1,461 |
|
-67 |
|
25 |
|
957 |
|
-97 |
|
456 |
|
504 |
|
-10 |
| ||||||
Nasonex |
|
308 |
|
325 |
|
-5 |
|
138 |
|
163 |
|
-16 |
|
169 |
|
161 |
|
5 |
| ||||||
Dulera |
|
67 |
|
37 |
|
83 |
|
64 |
|
36 |
|
79 |
|
2 |
|
1 |
|
* |
| ||||||
Clarinex |
|
56 |
|
129 |
|
-57 |
|
4 |
|
51 |
|
-93 |
|
52 |
|
78 |
|
-33 |
| ||||||
Asmanex |
|
44 |
|
57 |
|
-23 |
|
38 |
|
51 |
|
-24 |
|
5 |
|
6 |
|
-10 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Womens Health & Endocrine |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
NuvaRing |
|
164 |
|
168 |
|
-2 |
|
99 |
|
102 |
|
-3 |
|
66 |
|
66 |
|
|
| ||||||
Fosamax |
|
154 |
|
211 |
|
-27 |
|
6 |
|
8 |
|
-24 |
|
148 |
|
204 |
|
-27 |
| ||||||
Follistim AQ |
|
116 |
|
126 |
|
-8 |
|
42 |
|
42 |
|
-1 |
|
75 |
|
84 |
|
-11 |
| ||||||
Implanon |
|
94 |
|
74 |
|
27 |
|
35 |
|
33 |
|
4 |
|
59 |
|
40 |
|
46 |
| ||||||
Cerazette |
|
68 |
|
69 |
|
-1 |
|
|
|
|
|
|
|
68 |
|
69 |
|
-1 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Maxalt |
|
162 |
|
178 |
|
-9 |
|
128 |
|
132 |
|
-3 |
|
34 |
|
46 |
|
-27 |
| ||||||
Arcoxia |
|
115 |
|
110 |
|
5 |
|
|
|
|
|
|
|
115 |
|
110 |
|
5 |
| ||||||
Avelox |
|
55 |
|
95 |
|
-42 |
|
52 |
|
86 |
|
-40 |
|
3 |
|
9 |
|
-68 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Hospital and Specialty |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Immunology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Remicade |
|
549 |
|
511 |
|
8 |
|
|
|
|
|
|
|
549 |
|
511 |
|
8 |
| ||||||
Simponi |
|
95 |
|
61 |
|
56 |
|
|
|
|
|
|
|
95 |
|
61 |
|
56 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Infectious Disease |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Isentress |
|
381 |
|
387 |
|
-2 |
|
214 |
|
193 |
|
11 |
|
167 |
|
194 |
|
-14 |
| ||||||
Cancidas |
|
145 |
|
164 |
|
-11 |
|
9 |
|
12 |
|
-24 |
|
136 |
|
152 |
|
-10 |
| ||||||
PegIntron |
|
143 |
|
175 |
|
-18 |
|
8 |
|
25 |
|
-67 |
|
134 |
|
150 |
|
-10 |
| ||||||
Invanz |
|
116 |
|
110 |
|
6 |
|
61 |
|
55 |
|
10 |
|
55 |
|
54 |
|
2 |
| ||||||
Victrelis |
|
115 |
|
87 |
|
32 |
|
52 |
|
58 |
|
-10 |
|
63 |
|
29 |
|
* |
| ||||||
Primaxin |
|
83 |
|
119 |
|
-30 |
|
4 |
|
14 |
|
-73 |
|
80 |
|
104 |
|
-24 |
| ||||||
Noxafil |
|
68 |
|
59 |
|
15 |
|
20 |
|
16 |
|
24 |
|
47 |
|
42 |
|
12 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Oncology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Temodar |
|
229 |
|
230 |
|
-1 |
|
101 |
|
99 |
|
3 |
|
128 |
|
132 |
|
-3 |
| ||||||
Emend |
|
131 |
|
114 |
|
16 |
|
74 |
|
68 |
|
9 |
|
57 |
|
46 |
|
25 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Cosopt / Trusopt |
|
113 |
|
117 |
|
-3 |
|
3 |
|
4 |
|
-10 |
|
110 |
|
113 |
|
-3 |
| ||||||
Bridion |
|
75 |
|
60 |
|
26 |
|
|
|
|
|
|
|
75 |
|
60 |
|
26 |
| ||||||
Integrilin |
|
51 |
|
57 |
|
-11 |
|
46 |
|
50 |
|
-9 |
|
5 |
|
7 |
|
-26 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Diversified Brands |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Cozaar / Hyzaar |
|
315 |
|
427 |
|
-26 |
|
12 |
|
20 |
|
-40 |
|
303 |
|
407 |
|
-25 |
| ||||||
Propecia |
|
112 |
|
117 |
|
-4 |
|
29 |
|
36 |
|
-18 |
|
83 |
|
81 |
|
2 |
| ||||||
Zocor |
|
98 |
|
111 |
|
-12 |
|
7 |
|
8 |
|
-11 |
|
90 |
|
103 |
|
-12 |
| ||||||
Claritin Rx |
|
63 |
|
74 |
|
-15 |
|
|
|
|
|
|
|
63 |
|
74 |
|
-15 |
| ||||||
Remeron |
|
57 |
|
59 |
|
-4 |
|
1 |
|
1 |
|
-10 |
|
56 |
|
58 |
|
-4 |
| ||||||
Proscar |
|
56 |
|
52 |
|
7 |
|
2 |
|
1 |
|
24 |
|
54 |
|
51 |
|
7 |
| ||||||
Vasotec / Vaseretic |
|
48 |
|
58 |
|
-17 |
|
|
|
|
|
|
|
48 |
|
58 |
|
-17 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Vaccines |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Gardasil |
|
442 |
|
274 |
|
61 |
|
304 |
|
202 |
|
51 |
|
138 |
|
72 |
|
91 |
| ||||||
ProQuad, M-M-R II and Varivax |
|
306 |
|
276 |
|
11 |
|
283 |
|
243 |
|
16 |
|
22 |
|
33 |
|
-33 |
| ||||||
Zostavax |
|
225 |
|
78 |
|
* |
|
211 |
|
73 |
|
* |
|
14 |
|
5 |
|
* |
| ||||||
Pneumovax |
|
208 |
|
222 |
|
-7 |
|
165 |
|
137 |
|
21 |
|
43 |
|
86 |
|
-50 |
| ||||||
RotaTeq |
|
168 |
|
195 |
|
-14 |
|
136 |
|
162 |
|
-16 |
|
32 |
|
33 |
|
-1 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Other Pharmaceutical (2) |
|
1,113 |
|
1,064 |
|
5 |
|
209 |
|
232 |
|
-10 |
|
904 |
|
832 |
|
9 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
ANIMAL HEALTH |
|
898 |
|
868 |
|
3 |
|
236 |
|
192 |
|
23 |
|
662 |
|
676 |
|
-2 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
CONSUMER CARE |
|
395 |
|
361 |
|
9 |
|
250 |
|
225 |
|
11 |
|
145 |
|
136 |
|
6 |
| ||||||
Claritin OTC |
|
100 |
|
92 |
|
9 |
|
68 |
|
59 |
|
15 |
|
32 |
|
33 |
|
-2 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Other Revenues (3) |
|
360 |
|
310 |
|
16 |
|
315 |
|
274 |
|
15 |
|
45 |
|
37 |
|
21 |
| ||||||
Astra |
|
251 |
|
256 |
|
-2 |
|
251 |
|
256 |
|
-2 |
|
|
|
|
|
|
| ||||||
* 100% or greater
(1) Only select products are shown.
(2) Includes Pharmaceutical products not individually shown above. Other Vaccines sales included in Other Pharmaceutical were $69 million and $62 million on a global basis for fourth quarter 2012 and 2011, respectively.
(3) Other revenues are primarily comprised of alliance revenue, miscellaneous corporate revenues and third party manufacturing sales.
MERCK & CO., INC.
FRANCHISE / KEY PRODUCT SALES
FULL YEAR 2012
(AMOUNTS IN MILLIONS)
(UNAUDITED)
Table 3b
|
|
Global |
|
U.S. |
|
International |
| ||||||||||||||||||
|
|
Full Year |
|
Full Year |
|
% Change |
|
Full Year |
|
Full Year |
|
% Change |
|
Full Year |
|
Full Year |
|
% Change |
| ||||||
TOTAL SALES (1) |
|
$ |
47,267 |
|
$ |
48,047 |
|
-2 |
|
$ |
20,392 |
|
$ |
20,495 |
|
-1 |
|
$ |
26,875 |
|
$ |
27,552 |
|
-2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
PHARMACEUTICAL |
|
40,601 |
|
41,289 |
|
-2 |
|
17,041 |
|
17,117 |
|
|
|
23,560 |
|
24,172 |
|
-3 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Primary Care and Womens Health |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Cardiovascular |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Zetia |
|
2,567 |
|
2,428 |
|
6 |
|
1,332 |
|
1,223 |
|
9 |
|
1,235 |
|
1,205 |
|
2 |
| ||||||
Vytorin |
|
1,747 |
|
1,882 |
|
-7 |
|
764 |
|
888 |
|
-14 |
|
983 |
|
994 |
|
-1 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Diabetes & Obesity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Januvia |
|
4,086 |
|
3,324 |
|
23 |
|
2,136 |
|
1,824 |
|
17 |
|
1,950 |
|
1,499 |
|
30 |
| ||||||
Janumet |
|
1,659 |
|
1,363 |
|
22 |
|
865 |
|
712 |
|
21 |
|
795 |
|
651 |
|
22 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Respiratory |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Singulair |
|
3,853 |
|
5,479 |
|
-30 |
|
2,152 |
|
3,536 |
|
-39 |
|
1,701 |
|
1,942 |
|
-12 |
| ||||||
Nasonex |
|
1,268 |
|
1,286 |
|
-1 |
|
597 |
|
604 |
|
-1 |
|
671 |
|
682 |
|
-2 |
| ||||||
Clarinex |
|
393 |
|
621 |
|
-37 |
|
126 |
|
197 |
|
-36 |
|
267 |
|
424 |
|
-37 |
| ||||||
Dulera |
|
207 |
|
96 |
|
* |
|
199 |
|
94 |
|
* |
|
8 |
|
2 |
|
* |
| ||||||
Asmanex |
|
185 |
|
206 |
|
-10 |
|
166 |
|
185 |
|
-10 |
|
19 |
|
21 |
|
-11 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Womens Health & Endocrine |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Fosamax |
|
676 |
|
855 |
|
-21 |
|
28 |
|
45 |
|
-38 |
|
648 |
|
810 |
|
-20 |
| ||||||
NuvaRing |
|
623 |
|
623 |
|
|
|
366 |
|
369 |
|
-1 |
|
257 |
|
254 |
|
1 |
| ||||||
Follistim AQ |
|
468 |
|
530 |
|
-12 |
|
165 |
|
163 |
|
1 |
|
303 |
|
367 |
|
-17 |
| ||||||
Implanon |
|
348 |
|
294 |
|
18 |
|
139 |
|
126 |
|
11 |
|
209 |
|
169 |
|
24 |
| ||||||
Cerazette |
|
271 |
|
268 |
|
1 |
|
|
|
|
|
|
|
271 |
|
268 |
|
1 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Maxalt |
|
638 |
|
639 |
|
|
|
491 |
|
451 |
|
9 |
|
146 |
|
187 |
|
-22 |
| ||||||
Arcoxia |
|
453 |
|
431 |
|
5 |
|
|
|
|
|
|
|
453 |
|
431 |
|
5 |
| ||||||
Avelox |
|
201 |
|
322 |
|
-37 |
|
192 |
|
288 |
|
-33 |
|
9 |
|
34 |
|
-72 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Hospital and Specialty |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Immunology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Remicade |
|
2,076 |
|
2,667 |
|
-22 |
|
|
|
|
|
|
|
2,076 |
|
2,667 |
|
-22 |
| ||||||
Simponi |
|
331 |
|
264 |
|
25 |
|
|
|
|
|
|
|
331 |
|
264 |
|
25 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Infectious Disease |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Isentress |
|
1,515 |
|
1,359 |
|
11 |
|
822 |
|
681 |
|
21 |
|
692 |
|
678 |
|
2 |
| ||||||
PegIntron |
|
653 |
|
657 |
|
-1 |
|
87 |
|
71 |
|
22 |
|
565 |
|
586 |
|
-3 |
| ||||||
Cancidas |
|
619 |
|
640 |
|
-3 |
|
32 |
|
44 |
|
-28 |
|
587 |
|
595 |
|
-1 |
| ||||||
Victrelis |
|
502 |
|
140 |
|
* |
|
267 |
|
98 |
|
* |
|
234 |
|
43 |
|
* |
| ||||||
Invanz |
|
445 |
|
406 |
|
10 |
|
227 |
|
205 |
|
11 |
|
218 |
|
200 |
|
9 |
| ||||||
Primaxin |
|
384 |
|
515 |
|
-25 |
|
21 |
|
87 |
|
-76 |
|
363 |
|
429 |
|
-15 |
| ||||||
Noxafil |
|
258 |
|
230 |
|
13 |
|
75 |
|
61 |
|
23 |
|
184 |
|
169 |
|
9 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Oncology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Temodar |
|
917 |
|
935 |
|
-2 |
|
423 |
|
396 |
|
7 |
|
494 |
|
538 |
|
-8 |
| ||||||
Emend |
|
489 |
|
419 |
|
17 |
|
276 |
|
239 |
|
16 |
|
213 |
|
180 |
|
18 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Cosopt / Trusopt |
|
444 |
|
477 |
|
-7 |
|
14 |
|
16 |
|
-16 |
|
430 |
|
461 |
|
-7 |
| ||||||
Bridion |
|
261 |
|
201 |
|
30 |
|
|
|
|
|
|
|
261 |
|
201 |
|
30 |
| ||||||
Integrilin |
|
211 |
|
230 |
|
-8 |
|
193 |
|
208 |
|
-7 |
|
18 |
|
22 |
|
-16 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Diversified Brands |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Cozaar / Hyzaar |
|
1,284 |
|
1,663 |
|
-23 |
|
28 |
|
107 |
|
-74 |
|
1,256 |
|
1,555 |
|
-19 |
| ||||||
Propecia |
|
424 |
|
447 |
|
-5 |
|
124 |
|
134 |
|
-7 |
|
300 |
|
313 |
|
-4 |
| ||||||
Zocor |
|
383 |
|
456 |
|
-16 |
|
27 |
|
32 |
|
-17 |
|
356 |
|
423 |
|
-16 |
| ||||||
Claritin Rx |
|
244 |
|
314 |
|
-22 |
|
|
|
|
|
|
|
244 |
|
314 |
|
-22 |
| ||||||
Remeron |
|
232 |
|
241 |
|
-4 |
|
5 |
|
6 |
|
-21 |
|
227 |
|
234 |
|
-3 |
| ||||||
Proscar |
|
217 |
|
223 |
|
-3 |
|
5 |
|
5 |
|
-13 |
|
212 |
|
218 |
|
-3 |
| ||||||
Vasotec / Vaseretic |
|
192 |
|
231 |
|
-17 |
|
|
|
|
|
|
|
192 |
|
231 |
|
-17 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Vaccines |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Gardasil |
|
1,631 |
|
1,209 |
|
35 |
|
1,113 |
|
880 |
|
26 |
|
517 |
|
329 |
|
57 |
| ||||||
ProQuad, M-M-R II and Varivax |
|
1,273 |
|
1,202 |
|
6 |
|
1,164 |
|
1,108 |
|
5 |
|
109 |
|
93 |
|
17 |
| ||||||
Zostavax |
|
651 |
|
332 |
|
96 |
|
607 |
|
320 |
|
90 |
|
44 |
|
12 |
|
* |
| ||||||
RotaTeq |
|
601 |
|
651 |
|
-8 |
|
453 |
|
522 |
|
-13 |
|
148 |
|
129 |
|
15 |
| ||||||
Pneumovax |
|
580 |
|
498 |
|
17 |
|
461 |
|
350 |
|
32 |
|
118 |
|
148 |
|
-20 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Other Pharmaceutical (2) |
|
4,141 |
|
4,035 |
|
3 |
|
899 |
|
839 |
|
7 |
|
3,244 |
|
3,198 |
|
1 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
ANIMAL HEALTH |
|
3,399 |
|
3,253 |
|
4 |
|
879 |
|
711 |
|
24 |
|
2,520 |
|
2,542 |
|
-1 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
CONSUMER CARE |
|
1,952 |
|
1,840 |
|
6 |
|
1,306 |
|
1,210 |
|
8 |
|
646 |
|
630 |
|
3 |
| ||||||
Claritin OTC |
|
532 |
|
511 |
|
4 |
|
386 |
|
363 |
|
6 |
|
147 |
|
147 |
|
-1 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Other Revenues (3) |
|
1,315 |
|
1,666 |
|
-21 |
|
1,166 |
|
1,457 |
|
-20 |
|
149 |
|
208 |
|
-28 |
| ||||||
Astra |
|
915 |
|
1,184 |
|
-23 |
|
915 |
|
1,184 |
|
-23 |
|
|
|
|
|
|
| ||||||
* 100% or greater
(1) Only select products are shown.
(2) Includes Pharmaceutical products not individually shown above. Other Vaccines sales included in Other Pharmaceutical were $319 million and $283 million on a global basis for full year 2012 and 2011, respectively.
(3) Other revenues are primarily comprised of alliance revenue, miscellaneous corporate revenues and third party manufacturing sales.
MERCK & CO., INC.
PHARMACEUTICAL GEOGRAPHIC SALES
(AMOUNTS IN MILLIONS)
(UNAUDITED)
Table 3c
|
|
1Q12 |
|
2Q12 |
|
3Q12 |
|
4Q12 |
|
Full Year |
|
1Q11 |
|
2Q11 |
|
3Q11 |
|
4Q11 |
|
Full Year |
|
% |
|
% |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
TOTAL PHARMACEUTICAL |
|
$ |
10,082 |
|
$ |
10,560 |
|
$ |
9,875 |
|
$ |
10,085 |
|
$ |
40,601 |
|
$ |
9,820 |
|
$ |
10,360 |
|
$ |
10,354 |
|
$ |
10,755 |
|
$ |
41,289 |
|
-6 |
|
-2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
United States |
|
4,189 |
|
4,633 |
|
4,304 |
|
3,915 |
|
17,041 |
|
3,907 |
|
4,088 |
|
4,515 |
|
4,606 |
|
17,117 |
|
-15 |
|
|
| ||||||||||
% Pharmaceutical Sales |
|
41.6 |
% |
43.9 |
% |
43.6 |
% |
38.8 |
% |
42.0 |
% |
39.8 |
% |
39.5 |
% |
43.6 |
% |
42.8 |
% |
41.5 |
% |
|
|
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Europe (1) |
|
2,558 |
|
2,540 |
|
2,210 |
|
2,441 |
|
9,750 |
|
2,587 |
|
2,827 |
|
2,588 |
|
2,621 |
|
10,623 |
|
-7 |
|
-8 |
| ||||||||||
% Pharmaceutical Sales |
|
25.4 |
% |
24.1 |
% |
22.4 |
% |
24.2 |
% |
24.0 |
% |
26.3 |
% |
27.3 |
% |
25.0 |
% |
24.4 |
% |
25.7 |
% |
|
|
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Japan |
|
1,267 |
|
1,199 |
|
1,124 |
|
1,388 |
|
4,978 |
|
1,164 |
|
1,104 |
|
1,114 |
|
1,327 |
|
4,709 |
|
5 |
|
6 |
| ||||||||||
% Pharmaceutical Sales |
|
12.6 |
% |
11.4 |
% |
11.4 |
% |
13.8 |
% |
12.3 |
% |
11.8 |
% |
10.7 |
% |
10.8 |
% |
12.3 |
% |
11.4 |
% |
|
|
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Latin America |
|
627 |
|
668 |
|
715 |
|
742 |
|
2,752 |
|
700 |
|
743 |
|
667 |
|
747 |
|
2,857 |
|
-1 |
|
-4 |
| ||||||||||
% Pharmaceutical Sales |
|
6.2 |
% |
6.3 |
% |
7.2 |
% |
7.4 |
% |
6.8 |
% |
7.1 |
% |
7.2 |
% |
6.4 |
% |
6.9 |
% |
6.9 |
% |
|
|
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Asia Pacific |
|
762 |
|
787 |
|
846 |
|
864 |
|
3,259 |
|
699 |
|
779 |
|
763 |
|
736 |
|
2,977 |
|
18 |
|
9 |
| ||||||||||
% Pharmaceutical Sales |
|
7.6 |
% |
7.4 |
% |
8.6 |
% |
8.6 |
% |
8.0 |
% |
7.1 |
% |
7.5 |
% |
7.4 |
% |
6.8 |
% |
7.2 |
% |
|
|
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
China |
|
221 |
|
262 |
|
262 |
|
298 |
|
1,044 |
|
187 |
|
206 |
|
220 |
|
221 |
|
834 |
|
35 |
|
25 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Eastern Europe/Middle East Africa |
|
361 |
|
441 |
|
366 |
|
416 |
|
1,584 |
|
358 |
|
369 |
|
371 |
|
378 |
|
1,476 |
|
10 |
|
7 |
| ||||||||||
% Pharmaceutical Sales |
|
3.6 |
% |
4.2 |
% |
3.7 |
% |
4.1 |
% |
3.9 |
% |
3.6 |
% |
3.6 |
% |
3.6 |
% |
3.5 |
% |
3.6 |
% |
|
|
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Canada |
|
264 |
|
236 |
|
257 |
|
276 |
|
1,034 |
|
360 |
|
399 |
|
285 |
|
279 |
|
1,323 |
|
-1 |
|
-22 |
| ||||||||||
% Pharmaceutical Sales |
|
2.6 |
% |
2.2 |
% |
2.6 |
% |
2.7 |
% |
2.5 |
% |
3.7 |
% |
3.9 |
% |
2.8 |
% |
2.6 |
% |
3.2 |
% |
|
|
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Other |
|
53 |
|
56 |
|
52 |
|
42 |
|
203 |
|
45 |
|
51 |
|
51 |
|
61 |
|
208 |
|
-30 |
|
-2 |
| ||||||||||
% Pharmaceutical Sales |
|
0.5 |
% |
0.5 |
% |
0.5 |
% |
0.4 |
% |
0.5 |
% |
0.5 |
% |
0.5 |
% |
0.5 |
% |
0.6 |
% |
0.5 |
% |
|
|
|
| ||||||||||
(1) Europe primarily represents all European Union countries and the European Union accession markets.
MERCK & CO., INC.
EQUITY INCOME / JV SALES / OTHER (INCOME) EXPENSE - GAAP
FOURTH QUARTER 2012
(UNAUDITED)
Table 4 |
EQUITY INCOME FROM AFFILIATES (millions of dollars)
|
|
4Q12 |
|
4Q11 |
|
Full Year |
|
Full Year |
| ||||
ASTRAZENECA LP |
|
$ |
233 |
|
$ |
256 |
|
$ |
621 |
|
$ |
574 |
|
Other (1) |
|
(2 |
) |
1 |
|
21 |
|
36 |
| ||||
TOTAL |
|
$ |
231 |
|
$ |
257 |
|
$ |
642 |
|
$ |
610 |
|
(1) Includes results for Sanofi Pasteur MSD.
|
SANOFI PASTEUR MSD JOINT VENTURE SALES DETAIL (millions of dollars)
All sales reported here are end-market JV sales, presented on a NET basis.
|
|
4Q12 |
|
4Q11 |
|
Full Year |
|
Full Year |
| ||||
GARDASIL |
|
$ |
67 |
|
$ |
70 |
|
$ |
264 |
|
$ |
253 |
|
FLU VACCINES |
|
79 |
|
54 |
|
161 |
|
183 |
| ||||
OTHER VIRAL VACCINES |
|
26 |
|
28 |
|
107 |
|
105 |
| ||||
ROTATEQ |
|
12 |
|
12 |
|
47 |
|
44 |
| ||||
HEPATITIS VACCINES |
|
7 |
|
10 |
|
31 |
|
39 |
| ||||
Other Vaccines |
|
122 |
|
131 |
|
474 |
|
486 |
| ||||
TOTAL SANOFI PASTEUR MSD SALES |
|
$ |
313 |
|
$ |
305 |
|
$ |
1,084 |
|
$ |
1,110 |
|
|
OTHER (INCOME) EXPENSE, NET (millions of dollars)
|
|
4Q12 |
|
4Q11 |
|
Full Year |
|
Full Year |
| ||||
INTEREST INCOME (1) |
|
$ |
(55 |
) |
$ |
(43 |
) |
$ |
(232 |
) |
$ |
(145 |
) |
INTEREST EXPENSE (1) |
|
190 |
|
174 |
|
714 |
|
695 |
| ||||
EXCHANGE LOSSES |
|
55 |
|
41 |
|
185 |
|
143 |
| ||||
Other, net (2) |
|
479 |
|
(33 |
) |
449 |
|
253 |
| ||||
TOTAL |
|
$ |
669 |
|
$ |
139 |
|
$ |
1,116 |
|
$ |
946 |
|
(1) Prior period amounts reflect reclassifications to conform to the current period presentation.
(2) Other, net for the fourth quarter and full year of 2012 includes a $493 million net charge related to a litigation settlement. Other, net for the full year of 2011 includes a charge of $500 million related to the resolution of the arbitration proceeding with Johnson & Johnson.
|