Merck (NYSE:MRK) posted net income of $1.6 billion in the third quarter, eclipsing its performance for the same time last year, aided by its cervical cancer vaccine and strong growth in China.
Revenue for the Whitehouse Station, New Jersey pharmaceutical company for the quarter rose 8 percent to $12 billion. Sales of combination diabetes drug Janumet and cervical cancer vaccine Gardisal helped bolster prescription drug sales, helped by demand in Japan, the newest market for the vaccine. Sales of the vaccine were also helped by an increasing number of boys being vaccinated, the company said in the conference call.
It, too, has a blockbuster drug with an exclusive patent end date that is approaching with its asthma drug, Singulair, which had third-quarter sales of $1.3 billion, a 10 percent increase.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Merck has seen a 50 percent increase in sales in China compared with the previous year and anticipates a 30 percent increase in sales in China for the year for patented and unpatented products, Adam Schecter, the president of global human health, said in the conference call. He added that it would discuss the growth in more detail at a business briefing set for Nov. 10.
Last month, Merck formed a strategic collaboration with Beijing-based BGI, one of the the world’s largest genomics centers, to focus on the discovery and development of biomarkers and genomics technologies.
Merck is still digesting its $41 billion acquisition of Schering-Plough from 2009. And job cuts announced earlier this year are continuing to take effect.
