| CATEGORY: INTERNATIONAL COMPANIES |
Merck beats forecasts with 69% profit jump |
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Thu 29 Jul 2010
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LONDON (SHARECAST) - Pharmaceutical firm Merck is the best performer on the German market after it reported a better-than-expected 69% rise in second-quarter profits and lifted its outlook.
Net profits rose to €183.4m in the three month to the end of June compared with €108.5m in the same period last year. Revenues rose to €2.2bn from €1.9bn.
The group raise its guidance for 2010 and now expect the group to increase total revenues by 21% and the operating result by 90%.
Elsewhere in the sector, AstraZeneca’s potential blockbuster heart drug Brilinta has received the backing of a US advisory panel just as the Anglo-Swedish drug giant increased 2010 earnings targets for a second time this year following a strong performance from emerging markets and key drugs in the second quarter.
France's Sanofi-Aventis said second-quarter net income attributable to equity holders grew 61.2% to €1.71bn.
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