Merck KGaA posts modest revenue increase

pharmafile | February 24, 2010 | News story | |  2009 financials, Erbitux, Merck KGaA, Merck Serono, Rebif 

German pharma company Merck has posted a modest rise in revenue amidst strong pharma growth. 

Revenues increased 2.1% to 7.7 billion euro for the full year, led by MS treatment Rebif (interferon beta 1a), up 15% to 1.5 billion euros, and colorectal cancer treatment Erbitux (cetuximab), up 23% to 697 million euros.

Revenues at its pharma division Merck Serono increased 6.6% to 5.3 billion euros in 2009.

“We are presenting a financial statement for fiscal year 2009 with which – considering the overall circumstances of last year – we can be satisfied,” said Dr Karl-Ludwig Kley, chairman, Merck KGaA.

“For 2010, it will be crucial whether the economic recovery trend remains stable. Merck is assuming that Group total revenues should increase by 3% to 7% and that the operating result could grow by 20% to 30%.”

Merck forecasts that total Group revenue for 2010 will increase by 3% to 7%. It expects Merck Serono to grow between 2% and 5%.

Oral anti-diabetic treatment Glucophage (metformin) contributed 291 million euros to 2009, up 8% on the previous year.

Merck Serono’s thyroid medicine Euthyrox increased its sales by 6.5% to 137 million euros and hypertension treatments, including branded Concor, fell 5.4% to 395 million euros.

There was also a 40 million euros charge for taking Raptiva (efalizumab) off the market after the psoriasis treatment showed an increased risk of progressive multifocal leukoencephalopathy (PML).

Merck’s oral MS treatment Cladribine received a ‘refuse to file’ letter from the FDA in November, while last week the US regulator accepted Novartis’ Gilenia (fingolimod) for priority review.

Merck remains optimistic that Cladribine will be approved this year.

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