Merck's Q2 operating results climb 57.6%

25 July 2007 10:58  [Source: ICIS news]

LONDON (ICIS news)--Merck second quarter results on Wednesday showed operating results were up 57.6% year on year to €278m ($386m) but earnings before interest and tax were down 84% because of expenditure related to acquiring Serono.

Operating results for Merck’s chemical business sector were also on the rise up 14.5% to €167m, the company said in a statement.

“The Chemical business sector’s strategic plan is to focus on innovative, high value products that will give its customers a competitive advantage. Therefore, research and development costs continue to increase,” the company said.

The Liquid Crystal operating results were also up by 16.4% but reported revenues were reduced by 9.2% in the second quarter. The company said this was due to negative currency effects.

The Performance and Life Science business saw an increase in its operating results, up by 9.6%.

The operating results for Merck’s Pharmaceutical business were up by 186.1% to €128.5m.

The company said pharmaceutical figures had been boosted by the January acquisition of Swiss biopharmaceutical company Serono.

Merck’s share price dropped 1.04% on Wednesday morning at 10.20am BST. The share price was €96.66.

($1 = €0.72)

ICIS Copyright © Reed Business Information 2009

Author: Lucy Craymer
+44 20 8652 3214

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