Business Wire - By 2025 the Number of Asthma Sufferers Is Expected to Reach between 400-450 Million
Merck & Co. Inc. said yesterday that its quarterly profit doubled over the last year and should keep rising as it slashes costs and pursues deals with 40 companies to develop new drugs.
The results were powered in part by stronger-than-expected sales of Merck’s asthma drug Singulair and its cholesterol medicine Vytorin, which Merck is co-marketing with Schering-Plough Corp. Vytorin revenue nearly doubled to $973 million in the second quarter from $507 million a year earlier, even as Merck’s older cholesterol drug Zocor went off patent and lost 14 percent of its revenue.
Wall Street cheered and bid up Merck stock more than 4 percent, or $1.59, to close at $38.95 on the New York Stock Exchange. Shares of Schering-Plough also rose, closing at $20.55, up $1.10.
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