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Biotech / Medical : Merck -- Ignore unavailable to you. Want to Upgrade?

To: KENNETH R SANDERS who wrote (708)	4/16/1998 9:47:00 AM
From: John Carragher	Read Replies (1) \| Respond to of 1580

Dow Jones Newswires -- April 16, 1998 Merck & Co. 1Q Net 95c A Diluted Share Vs 82c Dow Jones Newswires Merck & Co. 1st Quar March 31: 1998 1997 Sales $6,058,800,000 $5,567,900,000 Net income 1,164,400,000 1,020,300,000 Avg shrs (basic) 1,195,100,000 1,208,900,000 Avg shrs (diluted)1,227,000,000 1,241,200,000 Shr earns (basic) Net income .97 .84 Shr earns (diluted) Net income .95 .82 Sales growth for the first quarter was affected by the divestiture of the crop protection business and the formation of the Merial joint venture in the third quarter of 1997. Adjusting for these effects, sales growth for the first quarter increased 12%. Foreign exchange reduced first quarter sales growth by two percentage points. Merck & Co. said sales growth in the latest quarter was led by established major products and newer products, including those launched this year, and prescription volume growth in its Merck-Medco Managed Care business. The company said established products contributing to sales growth include Zocor, Vasotec, Vaseretic, Prinvil, Pepcid and Proscar, and newer products include Fosamax, Cozaar, Hyzaar, Crixivan, Trusopt, Varivax, Vaqta, Singular and Propecia. Singular and Propecia were launched in 1998. Merck said income growth for the quarter was driven strong overall unit volume gains. The company said unfavorable effects of inflation, net of price, and exchange were partially offset by cost controls and productivity improvements in manufacturing, selling and general and administrative expenses. The company said its domestic and international operations reported solid unit volume gains. Merck & Co. said sales outside the U.S. accounted for 25% of latest quarter sales, compared with 29% for the same period last year. Briefing Book for: MRK Return to top of page Copyright c 1998 Dow Jones & Company, Inc. All Rights Reserved.