Booms, Busts, and Recoveries Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: tradermike_1999 who started this subject	7/8/2002 7:10:27 AM
From: smolejv@gmx.net	Read Replies (1) of 74559

Monday July 8, 12:06 am Eastern Time Merck Booked $12.4 Billion in Revenue It Never Collected Drug giant Merck & Co . recorded $12.4 billion in revenue from the company's pharmacy-benefits unit over the past three years that the subsidiary never actually collected, according to a filing with the Securities and Exchange Commission, Monday's Wall Street Journal reported. Merck's Medco unit, which manages pharmacy-benefit programs for employers and health insurers, included as part of its revenue the co -payments collected by pharmacies from patients, even though Medco doesn't receive those funds. Between 1999 and 2001, co -payments represented nearly 10% of Merck's overall reported revenue. Merck first disclosed the accounting treatment in an April SEC filing as it prepared to sell 20% of Medco in an initial public offering. But it wasn't until a subsequent SEC filing on Friday that the company said exactly how much revenue was involved. biz.yahoo.com ---------------------- Euro up one cent on the news, futures - check for yourself: cme.com from 2B Enron to 12B Merck - a small step for CEOnistas, a big step for the mankind -. Question: who's next (don't push)... dj

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next