The pharmaceutical company Merck increased its net profit by 160% in 2018 and reached 6.22 billion dollars, a solid profit thanks to the sales of its key medicines against cancer exceeded estimates.
The firm, part of the Dow Jones Industrial Group, reported Friday that its annual profit per share was $ 2.32 compared to 87 cents in 2017, when it obtained $ 2.39 billion.
The annual turnover of the company based in Kenilworth (New Jersey) amounted to 42,294 million, 5% more than in the previous year.
Merck in 2017 was negatively impacted by the US tax reform.
As for the fourth quarter of the year, the one that followed Wall Street the most, Merck obtained 1,827 million in profits (69 cents per share) and reversed the losses of 1,046 million (39 cents) it had in that same stretch in 2017.
Meanwhile, revenues between October and December increased by 5% to 10,996 million.
The company’s chief executive, Kenneth C. Frazier, highlighted the scientific and commercial progress and the innovation strategy in its four key businesses: oncology, vaccines, animal health and specialized products.
Merck expects sales in 2019 of between 43.2 billion and 44.7 billion and an adjusted value per share between 4.57 and 4.72 dollars.
“Last year was powerful for Merck, marked by substantial progress in the scientific and commercial fronts,” Kenneth C. Frazier, president and CEO of the firm, recalled in a note.
For Frazier, “the results of the fourth quarter and of the whole year reinforce” even more “his confidence in the strategy based on innovation of Merck, in which it is expected that our fundamental pillars (oncology, vaccines, animal health and selected products of hospitals and specialized care) promote long-term sustainable growth “.
“We entered 2019 with a good momentum, anticipating the many opportunities offered by our portfolio and broad and differentiated portfolio,” he added.
In spite of these intentions, the results of Merck were welcomed with coldness by the market and the actions descended to half-morning a 0.74% in the group of the Dow Jones. (EFEUSA) .-