Attached files
file | filename |
---|---|
EX-99.1 - EX-99.1 - Merck & Co., Inc. | a17-24456_1ex99d1.htm |
8-K - 8-K - Merck & Co., Inc. | a17-24456_18k.htm |
MERCK & CO., INC.
CONSOLIDATED STATEMENT OF INCOME - GAAP
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 1a
|
|
2017 |
|
2016 |
|
% Change |
| ||||||||||||||||||||||||||||
|
|
1Q |
|
2Q |
|
3Q |
|
Sep YTD |
|
1Q |
|
2Q |
|
3Q |
|
Sep YTD |
|
4Q |
|
Full Year |
|
3Q |
|
Sep YTD |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Sales |
|
$ |
9,434 |
|
$ |
9,930 |
|
$ |
10,325 |
|
$ |
29,689 |
|
$ |
9,312 |
|
$ |
9,844 |
|
$ |
10,536 |
|
$ |
29,692 |
|
$ |
10,115 |
|
$ |
39,807 |
|
-2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Costs, Expenses and Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Materials and production |
|
3,015 |
|
3,080 |
|
3,274 |
|
9,369 |
|
3,572 |
|
3,578 |
|
3,409 |
|
10,559 |
|
3,332 |
|
13,891 |
|
-4 |
% |
-11 |
% | ||||||||||
Marketing and administrative |
|
2,411 |
|
2,438 |
|
2,401 |
|
7,251 |
|
2,318 |
|
2,458 |
|
2,393 |
|
7,169 |
|
2,593 |
|
9,762 |
|
|
|
1 |
% | ||||||||||
Research and development |
|
1,796 |
|
1,749 |
|
4,383 |
|
7,927 |
|
1,659 |
|
2,151 |
|
1,664 |
|
5,475 |
|
4,650 |
|
10,124 |
|
* |
|
45 |
% | ||||||||||
Restructuring costs |
|
151 |
|
166 |
|
153 |
|
470 |
|
91 |
|
134 |
|
161 |
|
386 |
|
265 |
|
651 |
|
-5 |
% |
22 |
% | ||||||||||
Other (income) expense, net |
|
58 |
|
58 |
|
(86 |
) |
30 |
|
48 |
|
19 |
|
22 |
|
88 |
|
631 |
|
720 |
|
* |
|
-66 |
% | ||||||||||
Income (Loss) Before Taxes |
|
2,003 |
|
2,439 |
|
200 |
|
4,642 |
|
1,624 |
|
1,504 |
|
2,887 |
|
6,015 |
|
(1,356 |
) |
4,659 |
|
-93 |
% |
-23 |
% | ||||||||||
Income Tax Provision (Benefit) |
|
447 |
|
488 |
|
251 |
|
1,186 |
|
494 |
|
295 |
|
699 |
|
1,487 |
|
(769 |
) |
718 |
|
|
|
|
| ||||||||||
Net Income (Loss) |
|
1,556 |
|
1,951 |
|
(51 |
) |
3,456 |
|
1,130 |
|
1,209 |
|
2,188 |
|
4,528 |
|
(587 |
) |
3,941 |
|
* |
|
-24 |
% | ||||||||||
Less: Net Income Attributable to Noncontrolling Interests |
|
5 |
|
5 |
|
5 |
|
16 |
|
5 |
|
4 |
|
4 |
|
13 |
|
7 |
|
21 |
|
|
|
|
| ||||||||||
Net Income (Loss) Attributable to Merck & Co., Inc. |
|
$ |
1,551 |
|
$ |
1,946 |
|
$ |
(56 |
) |
$ |
3,440 |
|
$ |
1,125 |
|
$ |
1,205 |
|
$ |
2,184 |
|
$ |
4,515 |
|
$ |
(594 |
) |
$ |
3,920 |
|
* |
|
-24 |
% |
Earnings (Loss) per Common Share Assuming Dilution (1) |
|
$ |
0.56 |
|
$ |
0.71 |
|
$ |
(0.02 |
) |
$ |
1.25 |
|
$ |
0.40 |
|
$ |
0.43 |
|
$ |
0.78 |
|
$ |
1.62 |
|
$ |
(0.22 |
) |
$ |
1.41 |
|
* |
|
-23 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Average Shares Outstanding Assuming Dilution (1) |
|
2,766 |
|
2,752 |
|
2,727 |
|
2,754 |
|
2,795 |
|
2,789 |
|
2,786 |
|
2,791 |
|
2,755 |
|
2,787 |
|
|
|
|
| ||||||||||
Tax Rate |
|
22.3 |
% |
20.0 |
% |
125.5 |
% |
25.5 |
% |
30.4 |
% |
19.6 |
% |
24.2 |
% |
24.7 |
% |
56.7 |
% |
15.4 |
% |
|
|
|
|
* 100% or greater
Sum of quarterly amounts may not equal year-to-date amounts due to rounding.
(1) Because the company recorded net losses in the third quarter of 2017 and fourth quarter of 2016, no potential dilutive common shares were used in the computations of loss per common share assuming dilution as the effects would have been anti-dilutive.
MERCK & CO., INC.
GAAP TO NON-GAAP RECONCILIATION
THIRD QUARTER 2016
(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 |
|
$ |
3,409 |
|
773 |
|
36 |
|
|
|
809 |
|
$ |
2,600 |
|
Marketing and administrative |
|
2,393 |
|
36 |
|
1 |
|
|
|
37 |
|
2,356 |
| ||
Research and development |
|
1,664 |
|
13 |
|
14 |
|
|
|
27 |
|
1,637 |
| ||
Restructuring costs |
|
161 |
|
|
|
161 |
|
|
|
161 |
|
|
| ||
Other (income) expense, net |
|
22 |
|
12 |
|
|
|
(6 |
) |
6 |
|
16 |
| ||
Income Before Taxes |
|
2,887 |
|
(834 |
) |
(212 |
) |
6 |
|
(1,040 |
) |
3,927 |
| ||
Income Tax Provision (Benefit) |
|
699 |
|
(189 |
)(3) |
(47 |
)(3) |
1 |
(3) |
(235 |
) |
934 |
| ||
Net Income |
|
2,188 |
|
(645 |
) |
(165 |
) |
5 |
|
(805 |
) |
2,993 |
| ||
Net Income Attributable to Merck & Co., Inc. |
|
2,184 |
|
(645 |
) |
(165 |
) |
5 |
|
(805 |
) |
2,989 |
| ||
Earnings per Common Share Assuming Dilution |
|
$ |
0.78 |
|
(0.23 |
) |
(0.06 |
) |
|
|
(0.29 |
) |
$ |
1.07 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Tax Rate |
|
24.2 |
% |
|
|
|
|
|
|
|
|
23.8 |
% |
Only the line items that are affected by non-GAAP adjustments are shown.
Merck is providing certain 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 companys results as it permits investors to understand how management assesses performance. Management uses these measures internally for planning and forecasting purposes and to measure the performance of the company along with other metrics. Senior managements 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 expenses for the amortization of intangible assets recognized as a result of business acquisitions. Amounts included in marketing and administrative expenses reflect integration, transaction and certain other costs related to business acquisitions and divestitures. Amounts included in research and development expenses primarily reflect expenses related to an increase in the estimated fair value measurement of liabilities for contingent consideration and in-process research and development (IPR&D) impairment charges. Amount included in other (income) expense, net represents a goodwill impairment charge related to a business within the Healthcare Services segment.
(2) Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to activities under the companys formal restructuring programs.
(3) Represents the estimated tax impact on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments.
MERCK & CO., INC.
GAAP TO NON-GAAP RECONCILIATION
NINE MONTHS ENDED SEPTEMBER 30, 2016
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 2d
|
|
|
|
Acquisition and |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
Divestiture- |
|
Restructuring |
|
Certain Other |
|
Adjustment |
|
|
| ||
|
|
GAAP |
|
Related Costs (1) |
|
Costs (2) |
|
Items (3) |
|
Subtotal |
|
Non-GAAP |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Materials and production |
|
$ |
10,559 |
|
3,279 |
|
149 |
|
|
|
3,428 |
|
$ |
7,131 |
|
Marketing and administrative |
|
7,169 |
|
56 |
|
91 |
|
|
|
147 |
|
7,022 |
| ||
Research and development |
|
5,475 |
|
255 |
|
133 |
|
|
|
388 |
|
5,087 |
| ||
Restructuring costs |
|
386 |
|
|
|
386 |
|
|
|
386 |
|
|
| ||
Other (income) expense, net |
|
88 |
|
12 |
|
|
|
(6 |
) |
6 |
|
82 |
| ||
Income Before Taxes |
|
6,015 |
|
(3,602 |
) |
(759 |
) |
6 |
|
(4,355 |
) |
10,370 |
| ||
Income Tax Provision (Benefit) |
|
1,487 |
|
(633 |
)(3) |
(169 |
)(3) |
1 |
(3) |
(801 |
) |
2,288 |
| ||
Net Income |
|
4,528 |
|
(2,969 |
) |
(590 |
) |
5 |
|
(3,554 |
) |
8,082 |
| ||
Net Income Attributable to Merck & Co., Inc. |
|
4,515 |
|
(2,969 |
) |
(590 |
) |
5 |
|
(3,554 |
) |
8,069 |
| ||
Earnings per Common Share Assuming Dilution |
|
$ |
1.62 |
|
(1.06 |
) |
(0.21 |
) |
|
|
(1.27 |
) |
$ |
2.89 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Tax Rate |
|
24.7 |
% |
|
|
|
|
|
|
|
|
22.1 |
% |
Only the line items that are affected by non-GAAP adjustments are shown.
Merck is providing certain 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 companys results as it permits investors to understand how management assesses performance. Management uses these measures internally for planning and forecasting purposes and to measure the performance of the company along with other metrics. Senior managements 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 primarily reflect $2.9 billion of expenses for the amortization of intangible assets recognized as a result of business acquisitions, as well as $347 million of intangible asset impairment charges. Amounts included in marketing and administrative expenses reflect integration, transaction and certain other costs related to business acquisitions and divestitures. Amounts included in research and development expenses reflect $225 million of in-process research and development (IPR&D) impairment charges and $30 million of expenses related to an increase in the estimated fair value measurement of liabilities for contingent consideration. Amount included in other (income) expense, net represents a goodwill impairment charge related to a business within the Healthcare Services segment.
(2) Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to activities under the companys formal restructuring programs.
(3) Represents the estimated tax impact on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments.
MERCK & CO., INC.
FRANCHISE / KEY PRODUCT SALES
THIRD QUARTER 2017
(AMOUNTS IN MILLIONS)
Table 3a
|
|
Global |
|
U.S. |
|
International |
| ||||||||||||||||||
|
|
3Q 2017 |
|
3Q 2016 |
|
% Change |
|
3Q 2017 |
|
3Q 2016 |
|
% Change |
|
3Q 2017 |
|
3Q 2016 |
|
% Change |
| ||||||
TOTAL SALES (1) |
|
$ |
10,325 |
|
$ |
10,536 |
|
-2 |
|
$ |
4,594 |
|
$ |
5,063 |
|
-9 |
|
$ |
5,732 |
|
$ |
5,474 |
|
5 |
|
PHARMACEUTICAL |
|
9,156 |
|
9,443 |
|
-3 |
|
4,197 |
|
4,710 |
|
-11 |
|
4,959 |
|
4,733 |
|
5 |
| ||||||
Primary Care and Womens Health |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Cardiovascular |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Zetia |
|
320 |
|
671 |
|
-52 |
|
65 |
|
411 |
|
-84 |
|
255 |
|
261 |
|
-2 |
| ||||||
Vytorin |
|
142 |
|
273 |
|
-48 |
|
(6 |
) |
109 |
|
-106 |
|
148 |
|
164 |
|
-10 |
| ||||||
Atozet |
|
59 |
|
39 |
|
50 |
|
|
|
|
|
|
|
59 |
|
39 |
|
50 |
| ||||||
Adempas |
|
70 |
|
48 |
|
46 |
|
|
|
|
|
|
|
70 |
|
48 |
|
46 |
| ||||||
Diabetes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Januvia |
|
1,012 |
|
1,006 |
|
1 |
|
598 |
|
568 |
|
5 |
|
414 |
|
438 |
|
-5 |
| ||||||
Janumet |
|
513 |
|
548 |
|
-6 |
|
197 |
|
241 |
|
-18 |
|
316 |
|
307 |
|
3 |
| ||||||
General Medicine & Womens Health |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
NuvaRing |
|
214 |
|
195 |
|
10 |
|
160 |
|
144 |
|
11 |
|
54 |
|
51 |
|
6 |
| ||||||
Implanon / Nexplanon |
|
155 |
|
148 |
|
5 |
|
110 |
|
97 |
|
14 |
|
45 |
|
51 |
|
-12 |
| ||||||
Follistim AQ |
|
72 |
|
101 |
|
-29 |
|
30 |
|
49 |
|
-37 |
|
41 |
|
52 |
|
-20 |
| ||||||
Hospital and Specialty |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Hepatitis |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Zepatier |
|
468 |
|
164 |
|
185 |
|
228 |
|
152 |
|
50 |
|
241 |
|
13 |
|
* |
| ||||||
HIV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Isentress / Isentress HD |
|
310 |
|
372 |
|
-17 |
|
143 |
|
215 |
|
-33 |
|
167 |
|
157 |
|
6 |
| ||||||
Hospital Acute Care |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Bridion |
|
185 |
|
139 |
|
33 |
|
63 |
|
24 |
|
165 |
|
122 |
|
115 |
|
6 |
| ||||||
Noxafil |
|
162 |
|
147 |
|
10 |
|
78 |
|
65 |
|
21 |
|
83 |
|
82 |
|
2 |
| ||||||
Invanz |
|
159 |
|
152 |
|
5 |
|
93 |
|
93 |
|
1 |
|
66 |
|
59 |
|
11 |
| ||||||
Cancidas |
|
94 |
|
142 |
|
-34 |
|
6 |
|
8 |
|
-26 |
|
88 |
|
134 |
|
-34 |
| ||||||
Cubicin |
|
91 |
|
320 |
|
-71 |
|
41 |
|
264 |
|
-84 |
|
50 |
|
56 |
|
-10 |
| ||||||
Primaxin |
|
73 |
|
77 |
|
-5 |
|
5 |
|
1 |
|
* |
|
68 |
|
76 |
|
-11 |
| ||||||
Immunology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Simponi |
|
219 |
|
193 |
|
13 |
|
|
|
|
|
|
|
219 |
|
193 |
|
13 |
| ||||||
Remicade |
|
214 |
|
311 |
|
-31 |
|
|
|
|
|
|
|
214 |
|
311 |
|
-31 |
| ||||||
Oncology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Keytruda |
|
1,047 |
|
356 |
|
194 |
|
604 |
|
188 |
|
* |
|
442 |
|
168 |
|
164 |
| ||||||
Emend |
|
137 |
|
137 |
|
|
|
88 |
|
91 |
|
-3 |
|
49 |
|
46 |
|
6 |
| ||||||
Temodar |
|
68 |
|
78 |
|
-13 |
|
|
|
5 |
|
-102 |
|
68 |
|
73 |
|
-7 |
| ||||||
Diversified Brands |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Respiratory |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Singulair |
|
161 |
|
239 |
|
-33 |
|
16 |
|
6 |
|
180 |
|
145 |
|
233 |
|
-38 |
| ||||||
Dulera |
|
59 |
|
97 |
|
-39 |
|
52 |
|
92 |
|
-43 |
|
7 |
|
6 |
|
20 |
| ||||||
Nasonex |
|
42 |
|
94 |
|
-55 |
|
(23 |
) |
20 |
|
* |
|
65 |
|
74 |
|
-12 |
| ||||||
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Cozaar / Hyzaar |
|
128 |
|
131 |
|
-3 |
|
9 |
|
4 |
|
124 |
|
119 |
|
128 |
|
-6 |
| ||||||
Arcoxia |
|
80 |
|
114 |
|
-30 |
|
|
|
|
|
|
|
80 |
|
114 |
|
-30 |
| ||||||
Fosamax |
|
53 |
|
68 |
|
-23 |
|
4 |
|
2 |
|
126 |
|
48 |
|
66 |
|
-27 |
| ||||||
Vaccines (2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Gardasil / Gardasil 9 |
|
675 |
|
860 |
|
-22 |
|
484 |
|
737 |
|
-34 |
|
191 |
|
124 |
|
54 |
| ||||||
ProQuad / M-M-R II / Varivax |
|
519 |
|
496 |
|
4 |
|
419 |
|
419 |
|
|
|
100 |
|
77 |
|
29 |
| ||||||
Zostavax |
|
234 |
|
190 |
|
23 |
|
139 |
|
138 |
|
1 |
|
94 |
|
52 |
|
80 |
| ||||||
Pneumovax 23 |
|
229 |
|
175 |
|
31 |
|
174 |
|
122 |
|
42 |
|
56 |
|
53 |
|
5 |
| ||||||
RotaTeq |
|
179 |
|
171 |
|
4 |
|
127 |
|
123 |
|
3 |
|
52 |
|
48 |
|
7 |
| ||||||
Other Pharmaceutical (3) |
|
1,013 |
|
1,191 |
|
-15 |
|
293 |
|
322 |
|
-9 |
|
723 |
|
864 |
|
-16 |
| ||||||
ANIMAL HEALTH |
|
1,000 |
|
865 |
|
16 |
|
290 |
|
237 |
|
22 |
|
710 |
|
628 |
|
13 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Other Revenues (4) |
|
169 |
|
228 |
|
-26 |
|
107 |
|
116 |
|
-8 |
|
63 |
|
113 |
|
-44 |
| ||||||
* 200% or greater
(1) Only select products are shown.
(2) Vaccine sales in 2017 include sales in the European markets that were previously part of the Sanofi Pasteur MSD (SPMSD) joint venture that was terminated on December 31, 2016. Amounts for 2016 reflect supply sales to SPMSD.
(3) Includes Pharmaceutical products not individually shown above. Other Vaccines sales included in Other Pharmaceutical were $89 million and $135 million on a global basis for third quarter 2017 and 2016, 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.
FRANCHISE / KEY PRODUCT SALES
SEPTEMBER YEAR-TO-DATE 2017
(AMOUNTS IN MILLIONS)
Table 3b
|
|
Global |
|
U.S. |
|
International |
| ||||||||||||||||||
|
|
Sep YTD |
|
Sep YTD |
|
|
|
Sep YTD |
|
Sep YTD |
|
|
|
Sep YTD |
|
Sep YTD |
|
|
| ||||||
|
|
2017 |
|
2016 |
|
% Change |
|
2017 |
|
2016 |
|
% Change |
|
2017 |
|
2016 |
|
% Change |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
TOTAL SALES (1) |
|
$ |
29,689 |
|
$ |
29,692 |
|
|
|
$ |
13,096 |
|
$ |
13,792 |
|
-5 |
|
$ |
16,593 |
|
$ |
15,899 |
|
4 |
|
PHARMACEUTICAL |
|
26,101 |
|
26,247 |
|
-1 |
|
11,887 |
|
12,792 |
|
-7 |
|
14,214 |
|
13,455 |
|
6 |
| ||||||
Primary Care and Womens Health |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Cardiovascular |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Zetia |
|
1,021 |
|
1,985 |
|
-49 |
|
298 |
|
1,253 |
|
-76 |
|
723 |
|
731 |
|
-1 |
| ||||||
Vytorin |
|
565 |
|
843 |
|
-33 |
|
114 |
|
341 |
|
-67 |
|
451 |
|
502 |
|
-10 |
| ||||||
Atozet |
|
171 |
|
96 |
|
78 |
|
|
|
|
|
|
|
171 |
|
96 |
|
78 |
| ||||||
Adempas |
|
221 |
|
120 |
|
84 |
|
|
|
|
|
|
|
221 |
|
120 |
|
84 |
| ||||||
Diabetes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Januvia |
|
2,799 |
|
2,976 |
|
-6 |
|
1,646 |
|
1,748 |
|
-6 |
|
1,153 |
|
1,228 |
|
-6 |
| ||||||
Janumet |
|
1,572 |
|
1,624 |
|
-3 |
|
640 |
|
724 |
|
-12 |
|
933 |
|
899 |
|
4 |
| ||||||
General Medicine & Womens Health |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
NuvaRing |
|
573 |
|
571 |
|
|
|
425 |
|
421 |
|
1 |
|
148 |
|
150 |
|
-1 |
| ||||||
Implanon / Nexplanon |
|
503 |
|
446 |
|
13 |
|
367 |
|
308 |
|
19 |
|
137 |
|
138 |
|
-1 |
| ||||||
Follistim AQ |
|
232 |
|
268 |
|
-13 |
|
104 |
|
121 |
|
-14 |
|
128 |
|
146 |
|
-13 |
| ||||||
Hospital and Specialty |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Hepatitis |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Zepatier |
|
1,363 |
|
326 |
|
* |
|
683 |
|
308 |
|
122 |
|
680 |
|
18 |
|
* |
| ||||||
HIV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Isentress / Isentress HD |
|
896 |
|
1,050 |
|
-15 |
|
422 |
|
546 |
|
-23 |
|
474 |
|
504 |
|
-6 |
| ||||||
Hospital Acute Care |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Bridion |
|
495 |
|
343 |
|
44 |
|
162 |
|
42 |
|
* |
|
333 |
|
301 |
|
10 |
| ||||||
Noxafil |
|
458 |
|
434 |
|
5 |
|
220 |
|
202 |
|
9 |
|
237 |
|
232 |
|
2 |
| ||||||
Invanz |
|
445 |
|
409 |
|
9 |
|
268 |
|
239 |
|
12 |
|
177 |
|
170 |
|
4 |
| ||||||
Cancidas |
|
327 |
|
406 |
|
-19 |
|
17 |
|
18 |
|
-5 |
|
310 |
|
388 |
|
-20 |
| ||||||
Cubicin |
|
290 |
|
969 |
|
-70 |
|
148 |
|
824 |
|
-82 |
|
141 |
|
145 |
|
-2 |
| ||||||
Primaxin |
|
206 |
|
231 |
|
-11 |
|
7 |
|
3 |
|
122 |
|
199 |
|
228 |
|
-13 |
| ||||||
Immunology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Remicade |
|
651 |
|
999 |
|
-35 |
|
|
|
|
|
|
|
651 |
|
999 |
|
-35 |
| ||||||
Simponi |
|
602 |
|
581 |
|
4 |
|
|
|
|
|
|
|
602 |
|
581 |
|
4 |
| ||||||
Oncology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Keytruda |
|
2,512 |
|
919 |
|
173 |
|
1,522 |
|
481 |
|
* |
|
990 |
|
438 |
|
126 |
| ||||||
Emend |
|
413 |
|
405 |
|
2 |
|
257 |
|
266 |
|
-3 |
|
156 |
|
140 |
|
11 |
| ||||||
Temodar |
|
198 |
|
216 |
|
-8 |
|
4 |
|
10 |
|
-56 |
|
194 |
|
207 |
|
-6 |
| ||||||
Diversified Brands |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Respiratory |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Singulair |
|
550 |
|
705 |
|
-22 |
|
28 |
|
30 |
|
-5 |
|
522 |
|
675 |
|
-23 |
| ||||||
Nasonex |
|
266 |
|
425 |
|
-37 |
|
16 |
|
161 |
|
-90 |
|
250 |
|
264 |
|
-5 |
| ||||||
Dulera |
|
210 |
|
331 |
|
-37 |
|
191 |
|
314 |
|
-39 |
|
19 |
|
18 |
|
7 |
| ||||||
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Cozaar / Hyzaar |
|
360 |
|
389 |
|
-8 |
|
15 |
|
13 |
|
9 |
|
345 |
|
376 |
|
-8 |
| ||||||
Arcoxia |
|
272 |
|
342 |
|
-20 |
|
|
|
|
|
|
|
272 |
|
342 |
|
-20 |
| ||||||
Fosamax |
|
180 |
|
217 |
|
-17 |
|
7 |
|
3 |
|
135 |
|
173 |
|
214 |
|
-19 |
| ||||||
Vaccines (2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Gardasil / Gardasil 9 |
|
1,675 |
|
1,631 |
|
3 |
|
1,195 |
|
1,371 |
|
-13 |
|
481 |
|
259 |
|
85 |
| ||||||
ProQuad / M-M-R II / Varivax |
|
1,273 |
|
1,236 |
|
3 |
|
1,058 |
|
1,053 |
|
|
|
215 |
|
182 |
|
18 |
| ||||||
Pneumovax 23 |
|
558 |
|
403 |
|
38 |
|
392 |
|
267 |
|
47 |
|
166 |
|
136 |
|
22 |
| ||||||
Zostavax |
|
547 |
|
464 |
|
18 |
|
356 |
|
363 |
|
-2 |
|
191 |
|
102 |
|
88 |
| ||||||
RotaTeq |
|
525 |
|
489 |
|
7 |
|
377 |
|
356 |
|
6 |
|
148 |
|
133 |
|
11 |
| ||||||
Other Pharmaceutical (3) |
|
3,172 |
|
3,398 |
|
-7 |
|
948 |
|
1,006 |
|
-6 |
|
2,223 |
|
2,393 |
|
-7 |
| ||||||
ANIMAL HEALTH |
|
2,894 |
|
2,594 |
|
12 |
|
842 |
|
726 |
|
16 |
|
2,052 |
|
1,868 |
|
10 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Other Revenues (4) |
|
694 |
|
851 |
|
-18 |
|
367 |
|
274 |
|
34 |
|
327 |
|
576 |
|
-43 |
| ||||||
* 200% or greater
(1) Only select products are shown.
(2) Vaccine sales in 2017 include sales in the European markets that were previously part of the Sanofi Pasteur MSD (SPMSD) joint venture that was terminated on December 31, 2016. Amounts for 2016 reflect supply sales to SPMSD.
(3) Includes Pharmaceutical products not individually shown above. Other Vaccines sales included in Other Pharmaceutical were $264 million and $329 million on a global basis for September YTD 2017 and 2016, 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
|
|
2017 |
|
2016 |
|
% Change |
| ||||||||||||||||||||||||||
|
|
1Q |
|
2Q |
|
3Q |
|
Sep YTD |
|
1Q |
|
2Q |
|
3Q |
|
Sep YTD |
|
4Q |
|
Full Year |
|
3Q |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
TOTAL PHARMACEUTICAL |
|
$ |
8,185 |
|
$ |
8,759 |
|
$ |
9,156 |
|
$ |
26,101 |
|
$ |
8,104 |
|
$ |
8,700 |
|
$ |
9,443 |
|
$ |
26,247 |
|
$ |
8,904 |
|
$ |
35,151 |
|
-3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
United States |
|
3,761 |
|
3,929 |
|
4,197 |
|
11,887 |
|
3,913 |
|
4,169 |
|
4,710 |
|
12,792 |
|
4,282 |
|
17,073 |
|
-11 |
| ||||||||||
% Pharmaceutical Sales |
|
45.9 |
% |
44.9 |
% |
45.8 |
% |
45.5 |
% |
48.3 |
% |
47.9 |
% |
49.9 |
% |
48.7 |
% |
48.1 |
% |
48.6 |
% |
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Europe (1) |
|
1,977 |
|
2,082 |
|
2,174 |
|
6,232 |
|
1,914 |
|
1,997 |
|
1,935 |
|
5,846 |
|
1,843 |
|
7,689 |
|
12 |
| ||||||||||
% Pharmaceutical Sales |
|
24.2 |
% |
23.8 |
% |
23.7 |
% |
23.9 |
% |
23.6 |
% |
23.0 |
% |
20.5 |
% |
22.3 |
% |
20.7 |
% |
21.9 |
% |
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Japan |
|
688 |
|
818 |
|
756 |
|
2,262 |
|
620 |
|
673 |
|
812 |
|
2,105 |
|
659 |
|
2,764 |
|
-7 |
| ||||||||||
% Pharmaceutical Sales |
|
8.4 |
% |
9.3 |
% |
8.3 |
% |
8.7 |
% |
7.7 |
% |
7.7 |
% |
8.6 |
% |
8.0 |
% |
7.4 |
% |
7.9 |
% |
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Asia Pacific |
|
889 |
|
946 |
|
994 |
|
2,829 |
|
806 |
|
890 |
|
914 |
|
2,611 |
|
912 |
|
3,522 |
|
9 |
| ||||||||||
% Pharmaceutical Sales |
|
10.9 |
% |
10.8 |
% |
10.9 |
% |
10.8 |
% |
9.9 |
% |
10.2 |
% |
9.7 |
% |
9.9 |
% |
10.2 |
% |
10.0 |
% |
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
China |
|
328 |
|
353 |
|
377 |
|
1,058 |
|
337 |
|
353 |
|
350 |
|
1,040 |
|
333 |
|
1,374 |
|
8 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Latin America |
|
375 |
|
462 |
|
451 |
|
1,288 |
|
359 |
|
430 |
|
448 |
|
1,237 |
|
538 |
|
1,776 |
|
1 |
| ||||||||||
% Pharmaceutical Sales |
|
4.6 |
% |
5.3 |
% |
4.9 |
% |
4.9 |
% |
4.4 |
% |
4.9 |
% |
4.7 |
% |
4.7 |
% |
6.0 |
% |
5.1 |
% |
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Eastern Europe/Middle East Africa |
|
255 |
|
314 |
|
349 |
|
918 |
|
272 |
|
314 |
|
364 |
|
950 |
|
429 |
|
1,379 |
|
-4 |
| ||||||||||
% Pharmaceutical Sales |
|
3.1 |
% |
3.6 |
% |
3.8 |
% |
3.5 |
% |
3.4 |
% |
3.6 |
% |
3.9 |
% |
3.6 |
% |
4.8 |
% |
3.9 |
% |
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Canada |
|
182 |
|
171 |
|
193 |
|
546 |
|
147 |
|
170 |
|
184 |
|
501 |
|
180 |
|
682 |
|
5 |
| ||||||||||
% Pharmaceutical Sales |
|
2.2 |
% |
2.0 |
% |
2.1 |
% |
2.1 |
% |
1.8 |
% |
2.0 |
% |
1.9 |
% |
1.9 |
% |
2.0 |
% |
1.9 |
% |
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Other |
|
58 |
|
37 |
|
42 |
|
139 |
|
73 |
|
57 |
|
76 |
|
205 |
|
61 |
|
266 |
|
-45 |
| ||||||||||
% Pharmaceutical Sales |
|
0.7 |
% |
0.4 |
% |
0.5 |
% |
0.5 |
% |
0.9 |
% |
0.7 |
% |
0.8 |
% |
0.8 |
% |
0.7 |
% |
0.8 |
% |
|
| ||||||||||
(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
|
|
|
|
|
|
Sep YTD |
|
Sep YTD |
| ||||
|
|
3Q17 |
|
3Q16 |
|
2017 |
|
2016 |
| ||||
INTEREST INCOME |
|
$ |
(90 |
) |
$ |
(87 |
) |
$ |
(284 |
) |
$ |
(244 |
) |
INTEREST EXPENSE |
|
189 |
|
170 |
|
564 |
|
513 |
| ||||
EXCHANGE (GAINS) LOSSES |
|
(6 |
) |
3 |
|
5 |
|
79 |
| ||||
EQUITY INCOME FROM AFFILIATES |
|
(18 |
) |
(21 |
) |
(11 |
) |
(59 |
) | ||||
Other, net |
|
(161 |
) |
(43 |
) |
(244 |
) |
(201 |
) | ||||
TOTAL |
|
$ |
(86 |
) |
$ |
22 |
|
$ |
30 |
|
$ |
88 |
|