Merck KGaA to keep OTC
This article was originally published in The Tan Sheet
Executive Summary
The German firm maintains a positive outlook for its consumer health business and says it does not plan to sell - contrary to analysts' suggestion Sanofi-Aventis could buy it (1"The Tan Sheet," Jan. 12, 2009, p. 14). "If some braver companies are coming in, yes, that will increase the competition - the consumer will have more choice - but they cannot overtake our brands in two years," pharmaceutical head Elmar Schnee said during the firm's earnings call Feb. 18. Fiscal 2008 OTC revenues grew 5.2 percent to 442 million euros ($599.3 million under same-day conversion rates), and rose 3.7 percent to $144.7 million in the fourth quarter. The U.K.'s depreciating currency value hit the firm's sales
You may also be interested in...
Merck KGaA Consumer Business Could Flourish In The Right Hands – Analysts
Merck KGaA's weak consumer health business could be an acquisition target for a larger, more geographically diverse and innovative firm, such as Sanofi-Aventis, according to an analysts' report
GE HealthCare Launches AI-Powered Voluson Ultrasound For Women’s Health
Voluson Signature 20 and 18 ultrasound provides clinicians with workflow efficiencies in detecting female reproductive health problems, especially those related to pregnancy.
CDER, CBER Not Seeing Hiring Slowdown Despite US FDA Warnings
FDA officials have said hiring could be slowed if an inflationary pay increase is not included in the agency budget, but CDER and CBER continue to add staff at a steady pace.