Attached files
| file | filename |
|---|---|
| EX-99.1 - EX-99.1 - Merck & Co., Inc. | a16-15640_1ex99d1.htm |
| 8-K - 8-K - Merck & Co., Inc. | a16-15640_18k.htm |
Exhibit 99.2
MERCK & CO., INC.
CONSOLIDATED STATEMENT OF INCOME - GAAP
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 1a
|
|
|
2016 |
|
2015 |
|
% Change |
| |||||||||||||||||||||||||
|
|
|
1Q |
|
2Q |
|
June YTD |
|
1Q |
|
2Q |
|
June YTD |
|
3Q |
|
4Q |
|
Dec YTD |
|
2Q |
|
June YTD |
| |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
Sales |
|
$ |
9,312 |
|
$ |
9,844 |
|
$ |
19,156 |
|
$ |
9,425 |
|
$ |
9,785 |
|
$ |
19,210 |
|
$ |
10,073 |
|
$ |
10,215 |
|
$ |
39,498 |
|
1 |
% |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
Costs, Expenses and Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
Materials and production |
|
3,572 |
|
3,578 |
|
7,150 |
|
3,569 |
|
3,754 |
|
7,323 |
|
3,761 |
|
3,850 |
|
14,934 |
|
-5 |
% |
-2 |
% | |||||||||
|
Marketing and administrative |
|
2,318 |
|
2,458 |
|
4,776 |
|
2,601 |
|
2,624 |
|
5,226 |
|
2,472 |
|
2,615 |
|
10,313 |
|
-6 |
% |
-9 |
% | |||||||||
|
Research and development |
|
1,659 |
|
2,151 |
|
3,810 |
|
1,737 |
|
1,670 |
|
3,407 |
|
1,500 |
|
1,797 |
|
6,704 |
|
29 |
% |
12 |
% | |||||||||
|
Restructuring costs |
|
91 |
|
134 |
|
225 |
|
82 |
|
191 |
|
273 |
|
113 |
|
233 |
|
619 |
|
-30 |
% |
-18 |
% | |||||||||
|
Other (income) expense, net |
|
48 |
|
19 |
|
67 |
|
55 |
|
739 |
|
793 |
|
(170 |
) |
905 |
|
1,527 |
|
-97 |
% |
-92 |
% | |||||||||
|
Income Before Taxes |
|
1,624 |
|
1,504 |
|
3,128 |
|
1,381 |
|
807 |
|
2,188 |
|
2,397 |
|
815 |
|
5,401 |
|
86 |
% |
43 |
% | |||||||||
|
Income Tax Provision (Benefit) |
|
494 |
|
295 |
|
789 |
|
423 |
|
119 |
|
542 |
|
566 |
|
(166 |
) |
942 |
|
|
|
|
| |||||||||
|
Net Income |
|
1,130 |
|
1,209 |
|
2,339 |
|
958 |
|
688 |
|
1,646 |
|
1,831 |
|
981 |
|
4,459 |
|
76 |
% |
42 |
% | |||||||||
|
Less: Net Income Attributable to Noncontrolling Interests |
|
5 |
|
4 |
|
9 |
|
5 |
|
1 |
|
7 |
|
5 |
|
5 |
|
17 |
|
|
|
|
| |||||||||
|
Net Income Attributable to Merck & Co., Inc. |
|
$ |
1,125 |
|
$ |
1,205 |
|
$ |
2,330 |
|
$ |
953 |
|
$ |
687 |
|
$ |
1,639 |
|
$ |
1,826 |
|
$ |
976 |
|
$ |
4,442 |
|
75 |
% |
42 |
% |
|
Earnings per Common Share Assuming Dilution |
|
$ |
0.40 |
|
$ |
0.43 |
|
$ |
0.83 |
|
$ |
0.33 |
|
$ |
0.24 |
|
$ |
0.57 |
|
$ |
0.64 |
|
$ |
0.35 |
|
$ |
1.56 |
|
79 |
% |
46 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
Average Shares Outstanding Assuming Dilution |
|
2,795 |
|
2,789 |
|
2,792 |
|
2,865 |
|
2,850 |
|
2,856 |
|
2,836 |
|
2,813 |
|
2,841 |
|
|
|
|
| |||||||||
|
Tax Rate |
|
30.4 |
% |
19.6 |
% |
25.2 |
% |
30.6 |
% |
14.7 |
% |
24.8 |
% |
23.6 |
% |
-20.4 |
% |
17.4 |
% |
|
|
|
| |||||||||
Sum of quarterly amounts may not equal year-to-date amounts due to rounding.
MERCK & CO., INC.
GAAP TO NON-GAAP RECONCILIATION
SECOND QUARTER 2015
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 2c
|
|
|
|
|
Acquisition and |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
Divestiture- |
|
Restructuring |
|
Certain Other |
|
Adjustment |
|
|
| ||
|
|
|
GAAP |
|
Related Costs (1) |
|
Costs (2) |
|
Items |
|
Subtotal |
|
Non-GAAP |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Materials and production |
|
$ |
3,754 |
|
1,241 |
|
105 |
|
|
|
1,346 |
|
$ |
2,408 |
|
|
Marketing and administrative |
|
2,624 |
|
136 |
|
17 |
|
|
|
153 |
|
2,471 |
| ||
|
Research and development |
|
1,670 |
|
71 |
|
15 |
|
|
|
86 |
|
1,584 |
| ||
|
Restructuring costs |
|
191 |
|
|
|
191 |
|
|
|
191 |
|
— |
| ||
|
Other (income) expense, net |
|
739 |
|
|
|
|
|
715 |
(3) |
715 |
|
24 |
| ||
|
Income Before Taxes |
|
807 |
|
(1,448 |
) |
(328 |
) |
(715 |
) |
(2,491 |
) |
3,298 |
| ||
|
Tax Provision (Benefit) |
|
119 |
|
(314 |
)(4) |
(53 |
)(4) |
(370 |
)(5) |
(737 |
) |
856 |
| ||
|
Net Income |
|
688 |
|
(1,134 |
) |
(275 |
) |
(345 |
) |
(1,754 |
) |
2,442 |
| ||
|
Net Income Attributable to Merck & Co., Inc. |
|
687 |
|
(1,134 |
) |
(275 |
) |
(345 |
) |
(1,754 |
) |
2,441 |
| ||
|
Earnings per Common Share Assuming Dilution |
|
$ |
0.24 |
|
(0.40 |
) |
(0.10 |
) |
(0.12 |
) |
(0.62 |
) |
$ |
0.86 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Tax Rate |
|
14.7 |
% |
|
|
|
|
|
|
|
|
26.0 |
% | ||
Only the line items that are affected by non-GAAP adjustments are shown.
Merck is providing non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Management believes that providing this information enhances investors’ understanding of the company’s performance. Management uses this information internally for planning and forecasting purposes and to measure the performance of the company along with other metrics. Senior management’s annual compensation is derived in part using non-GAAP income and non-GAAP EPS. This information should be considered in addition to, but not as a substitute for or superior to, information prepared in accordance with GAAP.
(1) Amounts included in materials and production costs reflect $1.2 billion of expenses for the amortization of intangible assets recognized as a result of acquisitions, as well as $44 million of amortization of purchase accounting adjustments to inventories as a result of the Cubist acquisition. Amounts included in marketing and administrative expenses reflect integration, transaction and certain other costs related to business acquisitions, including severance costs which are not part of the company’s formal restructuring programs, as well as transaction and certain other costs related to divestitures. Amounts included in research and development expenses reflect $59 million of in-process research and development (“IPR&D”) impairment charges, as well as $12 million of charges to increase the fair value of liabilities for contingent consideration.
(2) Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to activities under the company’s formal restructuring programs.
(3) Represents non-deductible foreign exchange losses to devalue the company’s net monetary assets in Venezuela.
(4) Represents the estimated tax impact on the reconciling items, based on applying the statutory rate of the originating territory of the non-GAAP adjustments.
(5) Represents a net benefit related to the settlement of certain federal income tax issues.
MERCK & CO., INC.
GAAP TO NON-GAAP RECONCILIATION
SIX MONTHS ENDED JUNE 30, 2015
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 2d
|
|
|
|
|
Acquisition and |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
Divestiture- |
|
Restructuring |
|
Certain Other |
|
Adjustment |
|
|
| ||
|
|
|
GAAP |
|
Related Costs (1) |
|
Costs (2) |
|
Items |
|
Subtotal |
|
Non-GAAP |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Materials and production |
|
$ |
7,323 |
|
2,491 |
|
210 |
|
|
|
2,701 |
|
$ |
4,622 |
|
|
Marketing and administrative |
|
5,226 |
|
363 |
|
53 |
|
|
|
416 |
|
4,810 |
| ||
|
Research and development |
|
3,407 |
|
134 |
|
17 |
|
|
|
151 |
|
3,256 |
| ||
|
Restructuring costs |
|
273 |
|
|
|
273 |
|
|
|
273 |
|
— |
| ||
|
Other (income) expense, net |
|
793 |
|
|
|
|
|
701 |
(3) |
701 |
|
92 |
| ||
|
Income Before Taxes |
|
2,188 |
|
(2,988 |
) |
(553 |
) |
(701 |
) |
(4,242 |
) |
6,430 |
| ||
|
Tax Provision (Benefit) |
|
542 |
|
(557 |
)(4) |
(88 |
)(4) |
(370 |
)(5) |
(1,015 |
) |
1,557 |
| ||
|
Net Income |
|
1,646 |
|
(2,431 |
) |
(465 |
) |
(331 |
) |
(3,227 |
) |
4,873 |
| ||
|
Net Income Attributable to Merck & Co., Inc. |
|
1,639 |
|
(2,431 |
) |
(465 |
) |
(331 |
) |
(3,227 |
) |
4,866 |
| ||
|
Earnings per Common Share Assuming Dilution |
|
$ |
0.57 |
|
(0.85 |
) |
(0.16 |
) |
(0.12 |
) |
(1.13 |
) |
$ |
1.70 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Tax Rate |
|
24.8 |
% |
|
|
|
|
|
|
|
|
24.2 |
% | ||
Only the line items that are affected by non-GAAP adjustments are shown.
Merck is providing non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Management believes that providing this information enhances investors’ understanding of the company’s performance. Management uses this information internally for planning and forecasting purposes and to measure the performance of the company along with other metrics. Senior management’s annual compensation is derived in part using non-GAAP income and non-GAAP EPS. This information should be considered in addition to, but not as a substitute for or superior to, information prepared in accordance with GAAP.
(1) Amounts included in materials and production costs reflect $2.4 billion of expenses for the amortization of intangible assets recognized as a result of acquisitions, as well as $65 million of amortization of purchase accounting adjustments to inventories as a result of the Cubist acquisition. Amounts included in marketing and administrative expenses reflect integration, transaction and certain other costs related to business acquisitions, including severance costs which are not part of the company’s formal restructuring programs, as well as transaction and certain other costs related to divestitures. Amounts included in research and development expenses reflect $73 million of charges to increase the fair value of liabilities for contingent consideration, as well as $61 million of in-process research and development (“IPR&D”) impairment charges.
(2) Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to activities under the company’s formal restructuring programs.
(3) Primarily includes non-deductible foreign exchange losses of $715 million to devalue the company’s net monetary assets in Venezuela.
(4) Represents the estimated tax impact on the reconciling items, based on applying the statutory rate of the originating territory of the non-GAAP adjustments.
(5) Represents a net benefit related to the settlement of certain federal income tax issues.
MERCK & CO., INC.
FRANCHISE / KEY PRODUCT SALES
SECOND QUARTER 2016
(AMOUNTS IN MILLIONS)
Table 3a
|
|
|
Global |
|
U.S. |
|
International |
| ||||||||||||||||||
|
|
|
2Q 2016 |
|
2Q 2015 |
|
% Change |
|
2Q 2016 |
|
2Q 2015 |
|
% Change |
|
2Q 2016 |
|
2Q 2015 |
|
% Change |
| ||||||
|
TOTAL SALES (1) |
|
$ |
9,844 |
|
$ |
9,785 |
|
1 |
|
$ |
4,507 |
|
$ |
4,265 |
|
6 |
|
$ |
5,337 |
|
$ |
5,520 |
|
-3 |
|
|
PHARMACEUTICAL |
|
8,700 |
|
8,564 |
|
2 |
|
4,169 |
|
3,934 |
|
6 |
|
4,531 |
|
4,631 |
|
-2 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Primary Care and Women’s Health |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Cardiovascular |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Zetia |
|
702 |
|
635 |
|
11 |
|
457 |
|
409 |
|
12 |
|
245 |
|
226 |
|
8 |
| ||||||
|
Vytorin |
|
293 |
|
320 |
|
-9 |
|
123 |
|
123 |
|
|
|
170 |
|
197 |
|
-14 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Diabetes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Januvia |
|
1,064 |
|
1,044 |
|
2 |
|
631 |
|
648 |
|
-3 |
|
433 |
|
396 |
|
9 |
| ||||||
|
Janumet |
|
569 |
|
554 |
|
3 |
|
258 |
|
263 |
|
-2 |
|
312 |
|
292 |
|
7 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
General Medicine & Women’s Health |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
NuvaRing |
|
200 |
|
182 |
|
10 |
|
149 |
|
126 |
|
18 |
|
51 |
|
56 |
|
-9 |
| ||||||
|
Implanon / Nexplanon |
|
164 |
|
124 |
|
32 |
|
112 |
|
74 |
|
51 |
|
52 |
|
50 |
|
4 |
| ||||||
|
Dulera |
|
121 |
|
120 |
|
1 |
|
115 |
|
116 |
|
-1 |
|
6 |
|
5 |
|
27 |
| ||||||
|
Follistim AQ |
|
73 |
|
111 |
|
-35 |
|
20 |
|
52 |
|
-62 |
|
53 |
|
60 |
|
-11 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Hospital and Specialty |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Hepatitis |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Zepatier |
|
112 |
|
|
|
* |
|
107 |
|
|
|
* |
|
4 |
|
|
|
* |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
HIV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Isentress |
|
338 |
|
375 |
|
-10 |
|
169 |
|
212 |
|
-20 |
|
169 |
|
163 |
|
4 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Hospital Acute Care |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Cubicin |
|
357 |
|
293 |
|
22 |
|
304 |
|
266 |
|
14 |
|
53 |
|
27 |
|
97 |
| ||||||
|
Invanz |
|
143 |
|
139 |
|
3 |
|
81 |
|
79 |
|
3 |
|
61 |
|
60 |
|
2 |
| ||||||
|
Noxafil |
|
143 |
|
117 |
|
22 |
|
67 |
|
50 |
|
33 |
|
76 |
|
67 |
|
14 |
| ||||||
|
Cancidas |
|
131 |
|
134 |
|
-2 |
|
6 |
|
7 |
|
-16 |
|
125 |
|
127 |
|
-1 |
| ||||||
|
Bridion |
|
113 |
|
87 |
|
30 |
|
13 |
|
|
|
* |
|
100 |
|
87 |
|
15 |
| ||||||
|
Primaxin |
|
81 |
|
88 |
|
-8 |
|
2 |
|
1 |
|
22 |
|
79 |
|
87 |
|
-8 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Immunology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Remicade |
|
339 |
|
455 |
|
-26 |
|
|
|
|
|
|
|
339 |
|
455 |
|
-26 |
| ||||||
|
Simponi |
|
199 |
|
169 |
|
18 |
|
|
|
|
|
|
|
199 |
|
169 |
|
18 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Oncology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Keytruda |
|
314 |
|
110 |
|
* |
|
160 |
|
86 |
|
87 |
|
154 |
|
24 |
|
* |
| ||||||
|
Emend |
|
143 |
|
134 |
|
7 |
|
93 |
|
79 |
|
17 |
|
50 |
|
55 |
|
-8 |
| ||||||
|
Temodar |
|
73 |
|
80 |
|
-9 |
|
1 |
|
2 |
|
-47 |
|
72 |
|
78 |
|
-8 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Diversified Brands |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Respiratory |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Singulair |
|
229 |
|
212 |
|
8 |
|
7 |
|
10 |
|
-31 |
|
222 |
|
201 |
|
10 |
| ||||||
|
Nasonex |
|
101 |
|
215 |
|
-53 |
|
29 |
|
124 |
|
-77 |
|
72 |
|
91 |
|
-20 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Cozaar / Hyzaar |
|
132 |
|
189 |
|
-30 |
|
4 |
|
9 |
|
-59 |
|
128 |
|
180 |
|
-29 |
| ||||||
|
Arcoxia |
|
117 |
|
115 |
|
2 |
|
|
|
|
|
|
|
117 |
|
115 |
|
2 |
| ||||||
|
Fosamax |
|
73 |
|
96 |
|
-24 |
|
|
|
3 |
|
-88 |
|
73 |
|
93 |
|
-21 |
| ||||||
|
Zocor |
|
50 |
|
63 |
|
-21 |
|
2 |
|
5 |
|
-60 |
|
48 |
|
58 |
|
-17 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Vaccines |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Gardasil / Gardasil 9 |
|
393 |
|
427 |
|
-8 |
|
315 |
|
308 |
|
2 |
|
78 |
|
118 |
|
-34 |
| ||||||
|
ProQuad / M-M-R II / Varivax |
|
383 |
|
358 |
|
7 |
|
324 |
|
301 |
|
8 |
|
58 |
|
57 |
|
2 |
| ||||||
|
Zostavax |
|
149 |
|
149 |
|
|
|
116 |
|
107 |
|
9 |
|
33 |
|
43 |
|
-22 |
| ||||||
|
RotaTeq |
|
130 |
|
89 |
|
46 |
|
85 |
|
48 |
|
76 |
|
45 |
|
41 |
|
11 |
| ||||||
|
Pneumovax 23 |
|
120 |
|
106 |
|
14 |
|
78 |
|
70 |
|
10 |
|
43 |
|
35 |
|
21 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Other Pharmaceutical (2) |
|
1,151 |
|
1,274 |
|
-9 |
|
341 |
|
356 |
|
-4 |
|
811 |
|
918 |
|
-12 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
ANIMAL HEALTH |
|
898 |
|
840 |
|
7 |
|
256 |
|
215 |
|
19 |
|
643 |
|
625 |
|
3 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Other Revenues (3) |
|
246 |
|
381 |
|
-36 |
|
82 |
|
116 |
|
-29 |
|
163 |
|
264 |
|
-38 |
| ||||||
* 100% or greater
(1) Only select products are shown.
(2) Includes Pharmaceutical products not individually shown above. Other Vaccines sales included in Other Pharmaceutical were $91 million and $76 million on a global basis for second quarter 2016 and 2015, respectively.
(3) Other revenues are comprised primarily of alliance revenue, third-party manufacturing sales and miscellaneous corporate revenues, including revenue hedging activities.
MERCK & CO., INC.
FRANCHISE / KEY PRODUCT SALES
JUNE YEAR-TO-DATE 2016
(AMOUNTS IN MILLIONS)
Table 3b
|
|
|
Global |
|
U.S. |
|
International |
| ||||||||||||||||||
|
|
|
June YTD |
|
June YTD |
|
|
|
June YTD |
|
June YTD |
|
|
|
June YTD |
|
June YTD |
|
|
| ||||||
|
|
|
2016 |
|
2015 |
|
% Change |
|
2016 |
|
2015 |
|
% Change |
|
2016 |
|
2015 |
|
% Change |
| ||||||
|
TOTAL SALES (1) |
|
$ |
19,156 |
|
$ |
19,210 |
|
|
|
$ |
8,728 |
|
$ |
8,218 |
|
6 |
|
$ |
10,427 |
|
$ |
10,992 |
|
-5 |
|
|
PHARMACEUTICAL |
|
16,804 |
|
16,830 |
|
|
|
8,082 |
|
7,571 |
|
7 |
|
8,722 |
|
9,259 |
|
-6 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Primary Care and Women’s Health |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Cardiovascular |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Zetia |
|
1,314 |
|
1,202 |
|
9 |
|
843 |
|
754 |
|
12 |
|
471 |
|
448 |
|
5 |
| ||||||
|
Vytorin |
|
570 |
|
640 |
|
-11 |
|
232 |
|
234 |
|
-1 |
|
337 |
|
406 |
|
-17 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Diabetes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Januvia |
|
1,970 |
|
1,928 |
|
2 |
|
1,180 |
|
1,149 |
|
3 |
|
790 |
|
779 |
|
1 |
| ||||||
|
Janumet |
|
1,075 |
|
1,063 |
|
1 |
|
483 |
|
475 |
|
2 |
|
592 |
|
589 |
|
1 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
General Medicine & Women’s Health |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
NuvaRing |
|
376 |
|
348 |
|
8 |
|
277 |
|
238 |
|
16 |
|
99 |
|
110 |
|
-10 |
| ||||||
|
Implanon / Nexplanon |
|
298 |
|
261 |
|
14 |
|
211 |
|
158 |
|
34 |
|
87 |
|
103 |
|
-16 |
| ||||||
|
Dulera |
|
234 |
|
251 |
|
-7 |
|
222 |
|
241 |
|
-8 |
|
12 |
|
10 |
|
19 |
| ||||||
|
Follistim AQ |
|
167 |
|
193 |
|
-13 |
|
73 |
|
86 |
|
-16 |
|
94 |
|
107 |
|
-12 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Hospital and Specialty |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Hepatitis |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Zepatier |
|
161 |
|
|
|
* |
|
156 |
|
|
|
* |
|
5 |
|
|
|
* |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
HIV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Isentress |
|
678 |
|
760 |
|
-11 |
|
331 |
|
399 |
|
-17 |
|
347 |
|
362 |
|
-4 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Hospital Acute Care |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Cubicin (2) |
|
649 |
|
480 |
|
35 |
|
559 |
|
432 |
|
30 |
|
89 |
|
48 |
|
87 |
| ||||||
|
Noxafil |
|
288 |
|
228 |
|
26 |
|
137 |
|
95 |
|
44 |
|
150 |
|
133 |
|
13 |
| ||||||
|
Cancidas |
|
263 |
|
297 |
|
-11 |
|
10 |
|
13 |
|
-25 |
|
254 |
|
284 |
|
-11 |
| ||||||
|
Invanz |
|
257 |
|
271 |
|
-5 |
|
147 |
|
146 |
|
|
|
110 |
|
125 |
|
-12 |
| ||||||
|
Bridion |
|
204 |
|
172 |
|
18 |
|
18 |
|
|
|
* |
|
186 |
|
172 |
|
8 |
| ||||||
|
Primaxin |
|
154 |
|
153 |
|
1 |
|
2 |
|
4 |
|
-43 |
|
152 |
|
149 |
|
2 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Immunology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Remicade |
|
688 |
|
956 |
|
-28 |
|
|
|
|
|
|
|
688 |
|
956 |
|
-28 |
| ||||||
|
Simponi |
|
387 |
|
327 |
|
19 |
|
|
|
|
|
|
|
387 |
|
327 |
|
19 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Oncology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Keytruda |
|
563 |
|
192 |
|
* |
|
293 |
|
152 |
|
93 |
|
270 |
|
40 |
|
* |
| ||||||
|
Emend |
|
268 |
|
255 |
|
5 |
|
175 |
|
157 |
|
11 |
|
94 |
|
98 |
|
-4 |
| ||||||
|
Temodar |
|
139 |
|
155 |
|
-10 |
|
5 |
|
|
|
* |
|
134 |
|
155 |
|
-14 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Diversified Brands |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Respiratory |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Singulair |
|
465 |
|
457 |
|
2 |
|
24 |
|
16 |
|
52 |
|
442 |
|
441 |
|
|
| ||||||
|
Nasonex |
|
331 |
|
504 |
|
-34 |
|
141 |
|
267 |
|
-47 |
|
190 |
|
237 |
|
-20 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Cozaar / Hyzaar |
|
258 |
|
374 |
|
-31 |
|
9 |
|
17 |
|
-44 |
|
248 |
|
357 |
|
-31 |
| ||||||
|
Arcoxia |
|
228 |
|
238 |
|
-4 |
|
|
|
|
|
|
|
228 |
|
238 |
|
-4 |
| ||||||
|
Fosamax |
|
148 |
|
190 |
|
-22 |
|
1 |
|
6 |
|
-82 |
|
147 |
|
184 |
|
-20 |
| ||||||
|
Zocor |
|
96 |
|
112 |
|
-15 |
|
5 |
|
10 |
|
-44 |
|
90 |
|
102 |
|
-12 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Vaccines |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Gardasil / Gardasil 9 |
|
770 |
|
785 |
|
-2 |
|
635 |
|
603 |
|
5 |
|
136 |
|
182 |
|
-26 |
| ||||||
|
ProQuad / M-M-R II / Varivax |
|
739 |
|
705 |
|
5 |
|
634 |
|
609 |
|
4 |
|
105 |
|
96 |
|
9 |
| ||||||
|
RotaTeq |
|
318 |
|
281 |
|
13 |
|
233 |
|
205 |
|
14 |
|
85 |
|
76 |
|
11 |
| ||||||
|
Zostavax |
|
274 |
|
324 |
|
-15 |
|
225 |
|
257 |
|
-13 |
|
49 |
|
67 |
|
-26 |
| ||||||
|
Pneumovax 23 |
|
228 |
|
216 |
|
5 |
|
145 |
|
147 |
|
-2 |
|
83 |
|
69 |
|
21 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Other Pharmaceutical (3) |
|
2,246 |
|
2,512 |
|
-11 |
|
676 |
|
701 |
|
-4 |
|
1,571 |
|
1,809 |
|
-13 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
ANIMAL HEALTH |
|
1,727 |
|
1,669 |
|
4 |
|
489 |
|
417 |
|
17 |
|
1,239 |
|
1,251 |
|
-1 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Other Revenues (4) |
|
625 |
|
711 |
|
(12 |
) |
157 |
|
230 |
|
-32 |
|
466 |
|
482 |
|
-3 |
| ||||||
* 100% or greater
(1) Only select products are shown.
(2) Reflects sales following the acquisition of Cubist Pharmaceuticals, Inc. by Merck on January 21, 2015.
(3) Includes Pharmaceutical products not individually shown above. Other Vaccines sales included in Other Pharmaceutical were $195 million and $156 million on a global basis for June YTD 2016 and 2015, respectively.
(4) Other revenues are comprised primarily of alliance revenue, third-party manufacturing sales and miscellaneous corporate revenues, including revenue hedging activities.
MERCK & CO., INC.
PHARMACEUTICAL GEOGRAPHIC SALES
(AMOUNTS IN MILLIONS)
(UNAUDITED)
Table 3c
|
|
|
|
|
|
|
% |
| |||||||||||||||||||||||
|
|
|
2016 |
|
2015 |
|
Change |
| |||||||||||||||||||||||
|
|
|
1Q |
|
2Q |
|
June YTD |
|
1Q |
|
2Q |
|
June YTD |
|
3Q |
|
4Q |
|
Full Year |
|
2Q |
| |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
TOTAL PHARMACEUTICAL |
|
$ |
8,104 |
|
$ |
8,700 |
|
$ |
16,804 |
|
$ |
8,266 |
|
$ |
8,564 |
|
$ |
16,830 |
|
$ |
8,925 |
|
$ |
9,027 |
|
$ |
34,782 |
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
United States |
|
3,913 |
|
4,169 |
|
8,082 |
|
3,637 |
|
3,934 |
|
7,571 |
|
4,382 |
|
4,285 |
|
16,238 |
|
6 |
| |||||||||
|
% Pharmaceutical Sales |
|
48.3 |
% |
47.9 |
% |
48.1 |
% |
44.0 |
% |
45.9 |
% |
45.0 |
% |
49.1 |
% |
47.5 |
% |
46.7 |
% |
|
| |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
Europe (1) |
|
1,914 |
|
1,997 |
|
3,911 |
|
2,024 |
|
1,896 |
|
3,920 |
|
1,920 |
|
1,873 |
|
7,714 |
|
5 |
| |||||||||
|
% Pharmaceutical Sales |
|
23.6 |
% |
23.0 |
% |
23.3 |
% |
24.5 |
% |
22.1 |
% |
23.3 |
% |
21.5 |
% |
20.8 |
% |
22.2 |
% |
|
| |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
Japan |
|
620 |
|
673 |
|
1,293 |
|
627 |
|
629 |
|
1,256 |
|
564 |
|
785 |
|
2,605 |
|
7 |
| |||||||||
|
% Pharmaceutical Sales |
|
7.7 |
% |
7.7 |
% |
7.7 |
% |
7.6 |
% |
7.3 |
% |
7.5 |
% |
6.3 |
% |
8.7 |
% |
7.5 |
% |
|
| |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
Asia Pacific |
|
806 |
|
890 |
|
1,696 |
|
809 |
|
822 |
|
1,630 |
|
854 |
|
946 |
|
3,431 |
|
8 |
| |||||||||
|
% Pharmaceutical Sales |
|
9.9 |
% |
10.2 |
% |
10.1 |
% |
9.8 |
% |
9.6 |
% |
9.7 |
% |
9.6 |
% |
10.5 |
% |
9.9 |
% |
|
| |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
China |
|
337 |
|
353 |
|
690 |
|
318 |
|
335 |
|
653 |
|
353 |
|
339 |
|
1,344 |
|
5 |
| |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
Latin America |
|
359 |
|
430 |
|
789 |
|
630 |
|
676 |
|
1,306 |
|
585 |
|
512 |
|
2,403 |
|
-36 |
| |||||||||
|
% Pharmaceutical Sales |
|
4.4 |
% |
4.9 |
% |
4.7 |
% |
7.6 |
% |
7.9 |
% |
7.8 |
% |
6.5 |
% |
5.7 |
% |
6.9 |
% |
|
| |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
Eastern Europe/Middle East Africa |
|
272 |
|
314 |
|
586 |
|
321 |
|
372 |
|
693 |
|
380 |
|
402 |
|
1,476 |
|
-16 |
| |||||||||
|
% Pharmaceutical Sales |
|
3.4 |
% |
3.6 |
% |
3.5 |
% |
3.9 |
% |
4.3 |
% |
4.1 |
% |
4.3 |
% |
4.5 |
% |
4.2 |
% |
|
| |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
Canada |
|
147 |
|
170 |
|
318 |
|
170 |
|
167 |
|
337 |
|
159 |
|
172 |
|
668 |
|
2 |
| |||||||||
|
% Pharmaceutical Sales |
|
1.8 |
% |
2.0 |
% |
1.9 |
% |
2.1 |
% |
2.0 |
% |
2.0 |
% |
1.8 |
% |
1.9 |
% |
1.9 |
% |
|
| |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
Other |
|
73 |
|
57 |
|
129 |
|
48 |
|
68 |
|
117 |
|
81 |
|
52 |
|
247 |
|
-16 |
| |||||||||
|
% Pharmaceutical Sales |
|
0.9 |
% |
0.7 |
% |
0.8 |
% |
0.6 |
% |
0.8 |
% |
0.7 |
% |
0.9 |
% |
0.6 |
% |
0.7 |
% |
|
| |||||||||
(1) Europe primarily represents all European Union countries and the European Union accession markets.
MERCK & CO., INC.
OTHER (INCOME) EXPENSE, NET - GAAP
(AMOUNTS IN MILLIONS)
(UNAUDITED)
Table 4
OTHER (INCOME) EXPENSE, NET
|
|
|
|
|
|
|
JUNE YTD |
|
JUNE YTD |
| ||||
|
|
|
2Q16 |
|
2Q15 |
|
2016 |
|
2015 |
| ||||
|
INTEREST INCOME |
|
$ |
(78 |
) |
$ |
(71 |
) |
$ |
(157 |
) |
$ |
(146 |
) |
|
INTEREST EXPENSE |
|
171 |
|
174 |
|
343 |
|
338 |
| ||||
|
EXCHANGE LOSSES (1) |
|
37 |
|
716 |
|
76 |
|
810 |
| ||||
|
EQUITY INCOME FROM AFFILIATES |
|
(4 |
) |
(2 |
) |
(38 |
) |
(147 |
) | ||||
|
Other, net |
|
(107 |
) |
(78 |
) |
(157 |
) |
(62 |
) | ||||
|
TOTAL |
|
$ |
19 |
|
$ |
739 |
|
$ |
67 |
|
$ |
793 |
|
(1) Includes foreign exchange losses of $715 million in the second quarter and first six months of 2015 recorded in connection with the devaluation of the company’s net monetary assets in Venezuela.