Big Pharma Earnings Recap: Merck, Eli Lilly and Bristol-Myers Squibb

Merck & Co Inc. (NYSE:MRK) reported its results for the third quarter. Net income for the drug manufacturer rose to $1.69 billion (55 cents per share) vs. $341.6 million (11 cents per share) in the same quarter a year earlier. This is a more than fourfold rise from the year earlier quarter. Revenue rose 8.1% to $12.02 billion from the year earlier quarter.  MRK reported adjusted net income of 94 cents per share. By that measure, the company beat the mean estimate of 91 cents per share. It beat the average revenue estimate of $11.61 billion.

“Merck once again delivered a strong quarter,” said Kenneth C. Frazier, president and chief executive officer, “coupling top line growth and strong expense management to report an 11 percent increase to the bottom line. Going forward, Merck will continue to implement our growth strategy, while transforming the way we operate our business.”

Competitors to Watch: Johnson & Johnson (NYSE:JNJ), Pfizer Inc. (NYSE:PFE), Bristol Myers Squibb Co. (NYSE:BMY), GlaxoSmithKline plc (NYSE:GSK), Sanofi-Aventis SA (NYSE:SNY), Roche Holding Ltd. (RHHBY), Eli Lilly & Co. (NYSE:LLY), Abbott Laboratories (NYSE:ABT), Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA), and Novartis AG (NYSE:NVS).

Bristol-Myers Squibb Company (NYSE:BMY) reported net income above Wall Street’s expectations for the third quarter. Net income for Bristol-Myers Squibb Company rose to $969 million (56 cents per share) vs. $949 million (55 cents per share) in the same quarter a year earlier. This marks a rise of 2.1% from the year earlier quarter. Revenue rose 11.4% to $5.34 billion from the year earlier quarter.BMY reported adjusted net income of 61 cents per share. By that measure, the company beat the mean estimate of 58 cents per share. Analysts were expecting revenue of $5.3 billion.

“Our solid financial results, key R&D data and multiple business development transactions together demonstrate our ability to execute our short-term plans while at the same timelaying a solid foundation for our future,” said Lamberto Andreotti, chief executive officer, Bristol-Myers Squibb.

Competitors to Watch: Pfizer Inc. (NYSE:PFE), Merck & Co., Inc. (NYSE:MRK), Eli Lilly & Co. (NYSE:LLY), Sanofi-Aventis SA (NYSE:SNY), Abbott Laboratories (NYSE:ABT), Novartis AG (NYSE:NVS), Johnson & Johnson (NYSE:JNJ), Roche Holding Ltd. (RHHBY), GlaxoSmithKline plc (NYSE:GSK), and AstraZeneca plc (NYSE:AZN).

Eli Lilly and Company (NYSE:LLY) in the third quarter as profit dropped from a year earlier. Net income for the drug manufacturer fell to $1.24 billion ($1.11 per share) vs. $1.3 billion ($1.18 per share) a year earlier. This is a decline of 5.1% from the year earlier quarter. Revenue  rose 8.7% to $6.15 billion from the year earlier quarter. LLY reported adjusted net income of $1.13 per share. By that measure, the company fell in line with the mean estimate of $1.13 per share. Analysts were expecting revenue of $6.03 billion.

“In the third quarter Lilly continued to drive revenue growth for many key brands, including Cymbalta, Humalog, Forteo and Strattera, with strong growth also seen in animal health, Japan and China. This growth offset the continued erosion of Gemzar sales due to generic competition,” said John C. Lechleiter, Ph.D., Lilly’s chairman, president and chief executive officer. “As we face the loss of patent exclusivity for Zyprexa in most major markets, we are well-prepared as a company to meet the challenges before us. We remain committed to our innovation-based strategy and are focused on delivering the next wave of new medicines to patients in the coming years.”

Competitors to Watch: Pfizer Inc. (NYSE:PFE), Bristol Myers Squibb Co. (NYSE:BMY), Merck & Co., Inc. (NYSE:MRK), Johnson & Johnson (NYSE:JNJ), Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN), GlaxoSmithKline plc (NYSE:GSK), Alkermes, Inc. (NASDAQ:ALKS), Roche Holding Ltd. (RHHBY), Novartis AG (NYSE:NVS), and Abbott Laboratories (NYSE:ABT).

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