Exhibit 99.2
MERCK & CO., INC.
CONSOLIDATED STATEMENT OF INCOME - GAAP
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 1a
2019 | 2018 | % Change | |||||||||||||||||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | Full Year | 1Q | 2Q | 3Q | 4Q | Full Year | 4Q | Full Year | ||||||||||||||||||||||||||||||||||||
Sales | $ | 10,816 | $ | 11,760 | $ | 12,397 | $ | 11,868 | $ | 46,840 | $ | 10,037 | $ | 10,465 | $ | 10,794 | $ | 10,998 | $ | 42,294 | 8 | % | 11 | % | |||||||||||||||||||||||
Costs, Expenses and Other | |||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | 3,052 | 3,401 | 3,990 | 3,669 | 14,112 | 3,184 | 3,417 | 3,619 | 3,289 | 13,509 | 12 | % | 4 | % | |||||||||||||||||||||||||||||||||
Selling, general and administrative | 2,425 | 2,712 | 2,589 | 2,888 | 10,615 | 2,508 | 2,508 | 2,443 | 2,643 | 10,102 | 9 | % | 5 | % | |||||||||||||||||||||||||||||||||
Research and development | 1,931 | 2,189 | 3,204 | 2,548 | 9,872 | 3,196 | 2,274 | 2,068 | 2,214 | 9,752 | 15 | % | 1 | % | |||||||||||||||||||||||||||||||||
Restructuring costs | 153 | 59 | 232 | 194 | 638 | 95 | 228 | 171 | 138 | 632 | 41 | % | 1 | % | |||||||||||||||||||||||||||||||||
Other (income) expense, net | 188 | 140 | 35 | (223 | ) | 139 | (291 | ) | (48 | ) | (172 | ) | 110 | (402 | ) | * | * | ||||||||||||||||||||||||||||||
Income Before Taxes | 3,067 | 3,259 | 2,347 | 2,792 | 11,464 | 1,345 | 2,086 | 2,665 | 2,604 | 8,701 | 7 | % | 32 | % | |||||||||||||||||||||||||||||||||
Taxes on Income | 205 | 615 | 440 | 428 | 1,687 | 604 | 370 | 707 | 826 | 2,508 | |||||||||||||||||||||||||||||||||||||
Net Income | 2,862 | 2,644 | 1,907 | 2,364 | 9,777 | 741 | 1,716 | 1,958 | 1,778 | 6,193 | 33 | % | 58 | % | |||||||||||||||||||||||||||||||||
Less: Net (Loss) Income Attributable to Noncontrolling Interests | (53 | ) | (26 | ) | 6 | 7 | (66 | ) | 5 | 9 | 8 | (49) | (27 | ) | |||||||||||||||||||||||||||||||||
Net Income Attributable to Merck & Co., Inc. | $ | 2,915 | $ | 2,670 | $ | 1,901 | $ | 2,357 | $ | 9,843 | $ | 736 | $ | 1,707 | $ | 1,950 | $ | 1,827 | $ | 6,220 | 29 | % | 58 | % | |||||||||||||||||||||||
Earnings per Common Share Assuming Dilution | $ | 1.12 | $ | 1.03 | $ | 0.74 | $ | 0.92 | $ | 3.81 | $ | 0.27 | $ | 0.63 | $ | 0.73 | $ | 0.69 | $ | 2.32 | 33 | % | 64 | % | |||||||||||||||||||||||
Average Shares Outstanding Assuming Dilution | 2,603 | 2,588 | 2,572 | 2,559 | 2,580 | 2,710 | 2,696 | 2,678 | 2,634 | 2,679 | |||||||||||||||||||||||||||||||||||||
Tax Rate | 6.7 | % | 18.9 | % | 18.7 | % | 15.3 | % | 14.7 | % | 44.9 | % | 17.8 | % | 26.5 | % | 31.7 | % | 28.8 | % |
* 100% or greater
Sum of quarterly amounts may not equal year-to-date amounts due to rounding.
MERCK & CO., INC.
GAAP TO NON-GAAP RECONCILIATION
FOURTH QUARTER 2018
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 2c
GAAP | Acquisition and Divestiture-Related Costs(1) | Restructuring Costs(2) | Certain Other Items | Adjustment Subtotal | Non-GAAP | |||||||||||||||||||
Cost of sales | $ | 3,289 | 525 | 10 | 3 | 538 | $ | 2,751 | ||||||||||||||||
Selling, general and administrative | 2,643 | 6 | 1 | 7 | 2,636 | |||||||||||||||||||
Research and development | 2,214 | 91 | 1 | 92 | 2,122 | |||||||||||||||||||
Restructuring costs | 138 | 138 | 138 | - | ||||||||||||||||||||
Other (income) expense, net | 110 | 179 | (3 | ) | 176 | (66 | ) | |||||||||||||||||
Income Before Taxes | 2,604 | (801 | ) | (150 | ) | - | (951 | ) | 3,555 | |||||||||||||||
Income Tax Provision (Benefit) | 826 | (148 | )(3) | (13 | )(3) | 186 | (4) | 25 | 801 | |||||||||||||||
Net Income | 1,778 | (653 | ) | (137 | ) | (186 | ) | (976 | ) | 2,754 | ||||||||||||||
Less: Net (Loss) Income Attributable to Noncontrolling Interests | (49 | ) | (58 | ) | (58 | ) | 9 | |||||||||||||||||
Net Income Attributable to Merck & Co., Inc. | 1,827 | (595 | ) | (137 | ) | (186 | ) | (918 | ) | 2,745 | ||||||||||||||
Earnings per Common Share Assuming Dilution | $ | 0.69 | (0.23 | ) | (0.05 | ) | (0.07 | ) | (0.35 | ) | $ | 1.04 | ||||||||||||
Tax Rate | 31.7 | % | 22.5 | % |
Only the line items that are affected by non-GAAP adjustments are shown.
Merck is providing certain non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Management believes that providing this information enhances investors’ understanding of the company’s results as it permits investors to understand how management assesses performance. Management uses these measures internally for planning and forecasting purposes and to measure the performance of the company along with other metrics. Senior management’s annual compensation is derived in part using non-GAAP income and non-GAAP EPS. This information should be considered in addition to, but not as a substitute for or superior to, information prepared in accordance with GAAP.
(1)Amounts included in cost of sales reflect expenses for the amortization of intangible assets recognized as a result of business acquisitions. Amounts included in selling, general and administrative expenses reflect integration, transaction and certain other costs related to business acquisitions and divestitures. Amounts included in research and development expenses reflect $149 million of in-process research and development (IPR&D) impairment charges, partially offset by a reduction of expenses related to a decrease in the estimated fair value measurement of liabilities for contingent consideration. Amounts included in other (income) expense, net primarily reflect goodwill impairment charges related to certain businesses in the Healthcare Services segment and an increase in the estimated fair value measurement of liabilities for contingent consideration, partially offset by royalty income related to the termination of the Sanofi-Pasteur MSD joint venture.
(2)Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to activities under the company's formal restructuring programs.
(3)Represents the estimated tax impact on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments.
(4)Includes the estimated tax impact on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments. Also includes adjustments to the provisional amounts recorded in the prior year associated with the enactment of U.S. tax legislation, including $124 million related to the transition tax.
MERCK & CO., INC.
GAAP TO NON-GAAP RECONCILIATION
FULL YEAR 2018
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 2d
GAAP | Acquisition and Divestiture-Related Costs(1) | Restructuring Costs(2) | Certain Other Items(3) | Adjustment Subtotal | Non-GAAP | |||||||||||||||||||
Cost of sales | $ | 13,509 | 2,672 | 21 | 423 | 3,116 | $ | 10,393 | ||||||||||||||||
Selling, general and administrative | 10,102 | 32 | 3 | 35 | 10,067 | |||||||||||||||||||
Research and development | 9,752 | 98 | 2 | 1,744 | 1,844 | 7,908 | ||||||||||||||||||
Restructuring costs | 632 | 632 | 632 | - | ||||||||||||||||||||
Other (income) expense, net | (402 | ) | 264 | (57 | ) | 207 | (609 | ) | ||||||||||||||||
Income Before Taxes | 8,701 | (3,066 | ) | (658 | ) | (2,110 | ) | (5,834 | ) | 14,535 | ||||||||||||||
Income Tax Provision (Benefit) | 2,508 | (378 | )(4) | (82 | )(4) | 85 | (5) | (375 | ) | 2,883 | ||||||||||||||
Net Income | 6,193 | (2,688 | ) | (576 | ) | (2,195 | ) | (5,459 | ) | 11,652 | ||||||||||||||
Less: Net (Loss) Income Attributable to Noncontrolling Interests | (27 | ) | (58 | ) | (58 | ) | 31 | |||||||||||||||||
Net Income Attributable to Merck & Co., Inc. | 6,220 | (2,630 | ) | (576 | ) | (2,195 | ) | (5,401 | ) | 11,621 | ||||||||||||||
Earnings per Common Share Assuming Dilution | $ | 2.32 | (0.98 | ) | (0.22 | ) | (0.82 | ) | (2.02 | ) | $ | 4.34 | ||||||||||||
Tax Rate | 28.8 | % | 19.8 | % |
Only the line items that are affected by non-GAAP adjustments are shown.
Merck is providing certain non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Management believes that providing this information enhances investors’ understanding of the company’s results as it permits investors to understand how management assesses performance. Management uses these measures internally for planning and forecasting purposes and to measure the performance of the company along with other metrics. Senior management’s annual compensation is derived in part using non-GAAP income and non-GAAP EPS. This information should be considered in addition to, but not as a substitute for or superior to, information prepared in accordance with GAAP.
(1)Amounts included in cost of sales reflect expenses for the amortization of intangible assets recognized as a result of business acquisitions. Amounts included in selling, general and administrative expenses reflect integration, transaction and certain other costs related to business acquisitions and divestitures. Amounts included in research and development expenses reflect $152 million of in-process research and development (IPR&D) impairment charges, partially offset by a reduction of expenses related to a decrease in the estimated fair value measurement of liabilities for contingent consideration. Amounts included in other (income) expense, net primarily reflect goodwill impairment charges related to certain businesses in the Healthcare Services segment and an increase in the estimated fair value measurement of liabilities for contingent consideration, partially offset by royalty income related to the termination of the Sanofi-Pasteur MSD joint venture.
(2)Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to activities under the company's formal restructuring programs.
(3)Amount included in cost of sales represents a charge related to the termination of a collaboration agreement with Samsung Bioepis Co., Ltd. for insulin glargine. Amounts included in research and development expenses represent a $1.4 billion charge related to the formation of a collaboration with Eisai Co., Ltd., as well as a $344 million charge for the acquisition of Viralytics Limited.
(4)Represents the estimated tax impact on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments.
(5)Includes the estimated tax impact on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments. Also includes adjustments to the provisional amounts recorded in the prior year associated with the enactment of U.S. tax legislation, including $124 million related to the transition tax.
MERCK & CO., INC.
FRANCHISE / KEY PRODUCT SALES
FOURTH QUARTER 2019
(AMOUNTS IN MILLIONS)
(UNAUDITED)
Table 3a
Global | U.S. | International | ||||||||||||||||||||||||||||||||||
4Q 2019 | 4Q 2018 | % Change | 4Q 2019 | 4Q 2018 | % Change | 4Q 2019 | 4Q 2018 | % Change | ||||||||||||||||||||||||||||
TOTAL SALES(1) | $ | 11,868 | $ | 10,998 | 8 | $ | 5,142 | $ | 4,787 | 7 | $ | 6,726 | $ | 6,211 | 8 | |||||||||||||||||||||
PHARMACEUTICAL | 10,533 | 9,830 | 7 | 4,694 | 4,402 | 7 | 5,839 | 5,427 | 8 | |||||||||||||||||||||||||||
Oncology | ||||||||||||||||||||||||||||||||||||
Keytruda | 3,111 | 2,151 | 45 | 1,780 | 1,243 | 43 | 1,331 | 907 | 47 | |||||||||||||||||||||||||||
Alliance Revenue - Lynparza(2) | 132 | 62 | 111 | 82 | 39 | 113 | 49 | 24 | 107 | |||||||||||||||||||||||||||
Alliance Revenue - Lenvima(2) | 124 | 71 | 74 | 70 | 46 | 53 | 53 | 25 | 111 | |||||||||||||||||||||||||||
Emend | 53 | 126 | -58 | 10 | 73 | -86 | 42 | 53 | -21 | |||||||||||||||||||||||||||
Vaccines(3) | ||||||||||||||||||||||||||||||||||||
Gardasil / Gardasil 9 | 693 | 835 | -17 | 252 | 450 | -44 | 441 | 384 | 15 | |||||||||||||||||||||||||||
ProQuad / M-M-R II / Varivax | 481 | 455 | 6 | 358 | 333 | 8 | 123 | 122 | 1 | |||||||||||||||||||||||||||
Pneumovax 23 | 334 | 322 | 4 | 251 | 232 | 8 | 83 | 89 | -7 | |||||||||||||||||||||||||||
RotaTeq | 227 | 188 | 21 | 146 | 112 | 30 | 81 | 76 | 7 | |||||||||||||||||||||||||||
Vaqta | 71 | 72 | -2 | 28 | 32 | -13 | 43 | 40 | 8 | |||||||||||||||||||||||||||
Hospital Acute Care | ||||||||||||||||||||||||||||||||||||
Bridion | 313 | 256 | 22 | 152 | 114 | 33 | 162 | 142 | 14 | |||||||||||||||||||||||||||
Noxafil | 103 | 191 | -46 | 14 | 96 | -85 | 89 | 95 | -7 | |||||||||||||||||||||||||||
Primaxin | 67 | 53 | 25 | 1 | -168 | 67 | 52 | 28 | ||||||||||||||||||||||||||||
Cancidas | 58 | 69 | -17 | 2 | 2 | -21 | 56 | 67 | -17 | |||||||||||||||||||||||||||
Invanz | 57 | 59 | -5 | 1 | -102 | 57 | 58 | -3 | ||||||||||||||||||||||||||||
Cubicin | 50 | 80 | -38 | 13 | 41 | -67 | 36 | 39 | -8 | |||||||||||||||||||||||||||
Immunology | ||||||||||||||||||||||||||||||||||||
Simponi | 205 | 220 | -7 | 205 | 220 | -7 | ||||||||||||||||||||||||||||||
Remicade | 89 | 123 | -27 | 89 | 123 | -27 | ||||||||||||||||||||||||||||||
Neuroscience | ||||||||||||||||||||||||||||||||||||
Belsomra | 83 | 69 | 19 | 24 | 20 | 18 | 59 | 49 | 20 | |||||||||||||||||||||||||||
Virology | ||||||||||||||||||||||||||||||||||||
Isentress / Isentress HD | 223 | 280 | -20 | 95 | 130 | -27 | 128 | 150 | -15 | |||||||||||||||||||||||||||
Zepatier | 66 | 108 | -38 | 23 | * | 44 | 108 | -60 | ||||||||||||||||||||||||||||
Cardiovascular | ||||||||||||||||||||||||||||||||||||
Zetia | 146 | 162 | -9 | 3 | 11 | -73 | 144 | 151 | -5 | |||||||||||||||||||||||||||
Vytorin | 54 | 83 | -35 | 4 | (1 | ) | * | 49 | 84 | -41 | ||||||||||||||||||||||||||
Atozet | 108 | 89 | 22 | 108 | 89 | 22 | ||||||||||||||||||||||||||||||
Adempas | 117 | 91 | 28 | 117 | 91 | 28 | ||||||||||||||||||||||||||||||
Diabetes(4) | ||||||||||||||||||||||||||||||||||||
Januvia | 943 | 930 | 1 | 502 | 503 | 441 | 427 | 3 | ||||||||||||||||||||||||||||
Janumet | 475 | 535 | -11 | 127 | 185 | -31 | 348 | 350 | -1 | |||||||||||||||||||||||||||
Women's Health | ||||||||||||||||||||||||||||||||||||
Implanon / Nexplanon | 206 | 169 | 22 | 147 | 120 | 22 | 59 | 48 | 21 | |||||||||||||||||||||||||||
NuvaRing | 179 | 216 | -17 | 150 | 171 | -13 | 29 | 45 | -35 | |||||||||||||||||||||||||||
Diversified Brands | ||||||||||||||||||||||||||||||||||||
Singulair | 195 | 187 | 4 | 5 | 4 | 14 | 190 | 183 | 4 | |||||||||||||||||||||||||||
Cozaar / Hyzaar | 113 | 105 | 8 | 8 | 4 | 83 | 105 | 101 | 4 | |||||||||||||||||||||||||||
Nasonex | 67 | 102 | -34 | 7 | 15 | -53 | 60 | 87 | -31 | |||||||||||||||||||||||||||
Arcoxia | 67 | 86 | -23 | 67 | 86 | -23 | ||||||||||||||||||||||||||||||
Follistim AQ | 58 | 70 | -16 | 22 | 33 | -32 | 36 | 37 | -3 | |||||||||||||||||||||||||||
Other Pharmaceutical(5) | 1,265 | 1,215 | 4 | 419 | 392 | 7 | 848 | 825 | 3 | |||||||||||||||||||||||||||
ANIMAL HEALTH | 1,122 | 1,036 | 8 | 341 | 314 | 9 | 781 | 722 | 8 | |||||||||||||||||||||||||||
Livestock | 777 | 684 | 14 | 177 | 144 | 23 | 600 | 540 | 11 | |||||||||||||||||||||||||||
Companion Animals | 345 | 352 | -2 | 164 | 170 | -3 | 181 | 183 | -1 | |||||||||||||||||||||||||||
Other Revenues(6) | 213 | 132 | 61 | 107 | 71 | 51 | 106 | 62 | 72 |
* 200% or greater
(1)Only select products are shown.
(2)Alliance Revenue represents Merck’s share of profits, which are product sales net of cost of sales and commercialization costs.
(3)Total Vaccines sales were $1,928 million and $2,008 million on a global basis for fourth quarter 2019 and 2018, respectively.
(4)Total Diabetes sales were $1,472 million and $1,485 million on a global basis for fourth quarter 2019 and 2018, respectively.
(5)Includes Pharmaceutical products not individually shown above.
(6)Other Revenues are comprised primarily of Healthcare Services segment revenue, third-party manufacturing sales and miscellaneous corporate revenues, including revenue hedging activities.
MERCK & CO., INC.
FRANCHISE / KEY PRODUCT SALES
FULL YEAR 2019
(AMOUNTS IN MILLIONS)
(UNAUDITED)
Table 3b
Global | U.S. | International | ||||||||||||||||||||||||||||||||||
Full Year 2019 | Full Year 2018 | % Change | Full Year 2019 | Full Year 2018 | % Change | Full Year 2019 | Full Year 2018 | % Change | ||||||||||||||||||||||||||||
TOTAL SALES(1) | $ | 46,840 | $ | 42,294 | 11 | $ | 20,325 | $ | 18,212 | 12 | $ | 26,515 | $ | 24,083 | 10 | |||||||||||||||||||||
PHARMACEUTICAL | 41,751 | 37,689 | 11 | 18,759 | 16,608 | 13 | 22,992 | 21,081 | 9 | |||||||||||||||||||||||||||
Oncology | ||||||||||||||||||||||||||||||||||||
Keytruda | 11,084 | 7,171 | 55 | 6,305 | 4,150 | 52 | 4,779 | 3,021 | 58 | |||||||||||||||||||||||||||
Alliance Revenue - Lynparza(2) | 444 | 187 | 137 | 269 | 127 | 112 | 176 | 61 | 190 | |||||||||||||||||||||||||||
Alliance Revenue - Lenvima(2) | 404 | 149 | 171 | 239 | 95 | 152 | 165 | 54 | * | |||||||||||||||||||||||||||
Emend | 388 | 522 | -26 | 183 | 312 | -41 | 205 | 210 | -2 | |||||||||||||||||||||||||||
Vaccines(3) | ||||||||||||||||||||||||||||||||||||
Gardasil / Gardasil 9 | 3,737 | 3,151 | 19 | 1,831 | 1,873 | -2 | 1,905 | 1,279 | 49 | |||||||||||||||||||||||||||
ProQuad / M-M-R II / Varivax | 2,275 | 1,798 | 27 | 1,683 | 1,430 | 18 | 592 | 368 | 61 | |||||||||||||||||||||||||||
Pneumovax 23 | 926 | 907 | 2 | 679 | 627 | 8 | 247 | 281 | -12 | |||||||||||||||||||||||||||
RotaTeq | 791 | 728 | 9 | 506 | 496 | 2 | 284 | 232 | 22 | |||||||||||||||||||||||||||
Vaqta | 238 | 239 | 130 | 127 | 2 | 108 | 112 | -4 | ||||||||||||||||||||||||||||
Hospital Acute Care | ||||||||||||||||||||||||||||||||||||
Bridion | 1,131 | 917 | 23 | 533 | 386 | 38 | 598 | 531 | 13 | |||||||||||||||||||||||||||
Noxafil | 662 | 742 | -11 | 282 | 353 | -20 | 380 | 389 | -2 | |||||||||||||||||||||||||||
Primaxin | 273 | 265 | 3 | 2 | 7 | -72 | 271 | 258 | 5 | |||||||||||||||||||||||||||
Invanz | 263 | 496 | -47 | 30 | 253 | -88 | 233 | 243 | -4 | |||||||||||||||||||||||||||
Cubicin | 257 | 367 | -30 | 92 | 191 | -52 | 165 | 176 | -7 | |||||||||||||||||||||||||||
Cancidas | 249 | 326 | -24 | 6 | 12 | -46 | 242 | 314 | -23 | |||||||||||||||||||||||||||
Immunology | ||||||||||||||||||||||||||||||||||||
Simponi | 830 | 893 | -7 | 830 | 893 | -7 | ||||||||||||||||||||||||||||||
Remicade | 411 | 582 | -29 | 411 | 582 | -29 | ||||||||||||||||||||||||||||||
Neuroscience | ||||||||||||||||||||||||||||||||||||
Belsomra | 306 | 260 | 18 | 92 | 96 | -4 | 214 | 164 | 30 | |||||||||||||||||||||||||||
Virology | ||||||||||||||||||||||||||||||||||||
Isentress / Isentress HD | 975 | 1,140 | -15 | 398 | 513 | -22 | 576 | 627 | -8 | |||||||||||||||||||||||||||
Zepatier | 370 | 455 | -19 | 118 | 8 | * | 252 | 447 | -44 | |||||||||||||||||||||||||||
Cardiovascular | ||||||||||||||||||||||||||||||||||||
Zetia | 590 | 857 | -31 | 14 | 45 | -69 | 575 | 813 | -29 | |||||||||||||||||||||||||||
Vytorin | 285 | 497 | -43 | 16 | 10 | 51 | 269 | 487 | -45 | |||||||||||||||||||||||||||
Atozet | 391 | 347 | 13 | 391 | 347 | 13 | ||||||||||||||||||||||||||||||
Adempas | 419 | 329 | 27 | 419 | 329 | 27 | ||||||||||||||||||||||||||||||
Diabetes(4) | ||||||||||||||||||||||||||||||||||||
Januvia | 3,482 | 3,686 | -6 | 1,724 | 1,969 | -12 | 1,758 | 1,718 | 2 | |||||||||||||||||||||||||||
Janumet | 2,041 | 2,228 | -8 | 589 | 811 | -27 | 1,452 | 1,417 | 2 | |||||||||||||||||||||||||||
Women's Health | ||||||||||||||||||||||||||||||||||||
NuvaRing | 879 | 902 | -3 | 742 | 722 | 3 | 136 | 180 | -24 | |||||||||||||||||||||||||||
Implanon / Nexplanon | 787 | 703 | 12 | 568 | 495 | 15 | 219 | 208 | 5 | |||||||||||||||||||||||||||
Diversified Brands | ||||||||||||||||||||||||||||||||||||
Singulair | 698 | 708 | -1 | 29 | 20 | 46 | 669 | 688 | -3 | |||||||||||||||||||||||||||
Cozaar / Hyzaar | 442 | 453 | -3 | 24 | 23 | 5 | 418 | 431 | -3 | |||||||||||||||||||||||||||
Nasonex | 293 | 376 | -22 | 9 | 23 | -61 | 284 | 353 | -19 | |||||||||||||||||||||||||||
Arcoxia | 288 | 335 | -14 | 288 | 335 | -14 | ||||||||||||||||||||||||||||||
Follistim AQ | 241 | 268 | -10 | 103 | 115 | -11 | 138 | 153 | -10 | |||||||||||||||||||||||||||
Other Pharmaceutical(5) | 4,901 | 4,705 | 4 | 1,563 | 1,319 | 18 | 3,343 | 3,380 | -1 | |||||||||||||||||||||||||||
ANIMAL HEALTH | 4,393 | 4,212 | 4 | 1,306 | 1,238 | 6 | 3,086 | 2,974 | 4 | |||||||||||||||||||||||||||
Livestock | 2,784 | 2,630 | 6 | 582 | 528 | 10 | 2,201 | 2,102 | 5 | |||||||||||||||||||||||||||
Companion Animals | 1,609 | 1,582 | 2 | 724 | 710 | 2 | 885 | 872 | 2 | |||||||||||||||||||||||||||
Other Revenues(6) | 696 | 393 | 77 | 260 | 366 | -29 | 437 | 28 | * |
* 200% or greater
(1)Only select products are shown.
(2)Alliance Revenue represents Merck’s share of profits, which are product sales net of cost of sales and commercialization costs.
(3)Total Vaccines sales were $8,368 million and $7,262 million on a global basis for December YTD 2019 and 2018, respectively.
(4)Total Diabetes sales were $5,714 million and $5,994 million on a global basis for December YTD 2019 and 2018, respectively.
(5)Includes Pharmaceutical products not individually shown above.
(6)Other Revenues are comprised primarily of Healthcare Services segment revenue, third-party manufacturing sales and miscellaneous corporate revenues, including revenue hedging activities.
MERCK & CO., INC.
PHARMACEUTICAL GEOGRAPHIC SALES
(AMOUNTS IN MILLIONS)
(UNAUDITED)
Table 3c
2019 | 2018 | % Change | % Change | |||||||||||||||||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | Full Year | 1Q | 2Q | 3Q | 4Q | Full Year | 4Q | Full Year | |||||||||||||||||||||||||||||||||||||
TOTAL PHARMACEUTICAL | $ | 9,663 | $ | 10,460 | $ | 11,095 | $ | 10,533 | $ | 41,751 | $ | 8,919 | $ | 9,282 | $ | 9,658 | $ | 9,830 | $ | 37,689 | 7 | 11 | ||||||||||||||||||||||||||
United States | 4,175 | 4,758 | 5,132 | 4,694 | 18,759 | 3,716 | 3,841 | 4,649 | 4,402 | 16,608 | 7 | 13 | ||||||||||||||||||||||||||||||||||||
% Pharmaceutical Sales | 43.2 | % | 45.5 | % | 46.3 | % | 44.6 | % | 44.9 | % | 41.7 | % | 41.4 | % | 48.1 | % | 44.8 | % | 44.1 | % | ||||||||||||||||||||||||||||
Europe(1) | 2,335 | 2,301 | 2,304 | 2,373 | 9,314 | 2,402 | 2,322 | 2,114 | 2,237 | 9,076 | 6 | 3 | ||||||||||||||||||||||||||||||||||||
% Pharmaceutical Sales | 24.2 | % | 22.0 | % | 20.8 | % | 22.5 | % | 22.3 | % | 26.9 | % | 25.0 | % | 21.9 | % | 22.8 | % | 24.1 | % | ||||||||||||||||||||||||||||
Japan | 779 | 900 | 894 | 921 | 3,494 | 718 | 834 | 740 | 835 | 3,127 | 10 | 12 | ||||||||||||||||||||||||||||||||||||
% Pharmaceutical Sales | 8.1 | % | 8.6 | % | 8.1 | % | 8.7 | % | 8.4 | % | 8.1 | % | 9.0 | % | 7.7 | % | 8.5 | % | 8.3 | % | ||||||||||||||||||||||||||||
China | 725 | 745 | 898 | 773 | 3,141 | 459 | 530 | 488 | 601 | 2,077 | 29 | 51 | ||||||||||||||||||||||||||||||||||||
% Pharmaceutical Sales | 7.5 | % | 7.1 | % | 8.1 | % | 7.3 | % | 7.5 | % | 5.1 | % | 5.7 | % | 5.1 | % | 6.1 | % | 5.5 | % | ||||||||||||||||||||||||||||
Asia Pacific (other than Japan and China) | 642 | 606 | 638 | 614 | 2,500 | 653 | 694 | 566 | 598 | 2,512 | 3 | 0 | ||||||||||||||||||||||||||||||||||||
% Pharmaceutical Sales | 6.6 | % | 5.8 | % | 5.8 | % | 5.8 | % | 6.0 | % | 7.3 | % | 7.5 | % | 5.9 | % | 6.1 | % | 6.7 | % | ||||||||||||||||||||||||||||
Latin America | 427 | 523 | 534 | 429 | 1,914 | 398 | 459 | 493 | 530 | 1,880 | -19 | 2 | ||||||||||||||||||||||||||||||||||||
% Pharmaceutical Sales | 4.4 | % | 5.0 | % | 4.8 | % | 4.1 | % | 4.6 | % | 4.5 | % | 4.9 | % | 5.1 | % | 5.4 | % | 5.0 | % | ||||||||||||||||||||||||||||
Eastern Europe/Middle East Africa | 343 | 388 | 423 | 423 | 1,577 | 335 | 356 | 347 | 349 | 1,388 | 21 | 14 | ||||||||||||||||||||||||||||||||||||
% Pharmaceutical Sales | 3.6 | % | 3.7 | % | 3.8 | % | 4.0 | % | 3.8 | % | 3.8 | % | 3.8 | % | 3.6 | % | 3.6 | % | 3.7 | % | ||||||||||||||||||||||||||||
Canada | 177 | 179 | 211 | 216 | 783 | 196 | 192 | 177 | 211 | 776 | 2 | 1 | ||||||||||||||||||||||||||||||||||||
% Pharmaceutical Sales | 1.8 | % | 1.7 | % | 1.9 | % | 2.0 | % | 1.9 | % | 2.2 | % | 2.1 | % | 1.8 | % | 2.1 | % | 2.1 | % | ||||||||||||||||||||||||||||
Other | 60 | 60 | 61 | 90 | 269 | 42 | 54 | 84 | 67 | 245 | 34 | 10 | ||||||||||||||||||||||||||||||||||||
% Pharmaceutical Sales | 0.6 | % | 0.6 | % | 0.5 | % | 0.9 | % | 0.6 | % | 0.5 | % | 0.6 | % | 0.9 | % | 0.7 | % | 0.7 | % |
(1)Europe primarily represents all European Union countries and the European Union accession markets.
MERCK & CO., INC.
OTHER (INCOME) EXPENSE, NET - GAAP
(AMOUNTS IN MILLIONS)
(UNAUDITED)
Table 4
OTHER (INCOME) EXPENSE, NET
4Q19 | 4Q18 | Full Year 2019 | Full Year 2018 | |||||||||||||
Interest income | $ | (50 | ) | $ | (86 | ) | $ | (274 | ) | $ | (343 | ) | ||||
Interest expense | 220 | 203 | 893 | 772 | ||||||||||||
Exchange losses | 21 | 25 | 187 | 145 | ||||||||||||
(Income) loss from investments in equity securities, net(1) | (119 | ) | 52 | (170 | ) | (324 | ) | |||||||||
Net periodic defined benefit plan (credit) cost other than service cost | (136 | ) | (128 | ) | (545 | ) | (512 | ) | ||||||||
Other, net | (159 | ) | 44 | 48 | (140 | ) | ||||||||||
Total | $ | (223 | ) | $ | 110 | $ | 139 | $ | (402 | ) |
(1)Includes net realized and unrealized gains and losses from investments in equity securities either owned directly or through ownership interests in investment funds.