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Merck's sales fall on patent expiries

  • Merck's (MRK) worldwide revenue falls 11% Y/Y as Singulair sales dip 80% from Q2 2012 — the asthma treatment lost patent expiration in the U.S. last August and in Europe in February.
  • Overall, Q2 pharmaceutical sales fall 12% to $9.3B.
  • Revenue growth (including FX impact) from other key products: Januvia, 1%; Zetia, 3%; Remicade, 2%; Junumet, 16%; Vytorin, -6%; Isentress, 4%; Gardasil, 18%; Proquad, M-M-R II, Varivax, 7%; Nasonex, 11%; Consumer Care, -11% (impact of terminating distribution arrangements in China).
  • Outlook: FY $3.45-3.55/ share; revenue -5 to -6% Y/Y. Shares -0.19% premarket. (PR)
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