Merck, the world’s third largest drugmaker, earned $298.8 million, or 9 cents a share, after earning $1.43 billion, or 67 cents a share, in the prior year period.
 
Revenue at the firm more than doubled to $11.42 billion from $5.39 billion.
 
“The first full quarter of results for the new Merck reflect our strong focus on driving revenue growth, maintaining the momentum of the business and reducing our cost structure,” said Richard T. Clark, Chairman and CEO. “At the same time, we made excellent progress on achieving our integration goals.
 
“Merck colleagues around the world are committed to satisfying our customers’ needs by providing them with innovative, distinctive products and services that save and improve lives,” he added. “And our expanded worldwide presence and broader product portfolio now provides many more individuals with access to the valuable and diverse set of health care solutions Merck provides than they did just a few months ago.”
 
Eight of Merck’s top 10 product families saw growth during the quarter, carrying forward the momentum seen in the fourth quarter of 2009 performance.
 
International sales of Merck’s pharmaceutical and vaccine products reported overall strong growth of 10 percent for the first quarter of 2010.
 
Merck acquired rival Schering-Plough for $41 billion in November 2009.
 
SOURCE: Merck & Co.

Edited by Ellie Duncan