That is to say, we expect nothing of much spice, or particular moment, to be revealed, given the two pre-announcements -- here, and here.
In any event, this will go live early in the morning -- here is a link to the feed entry page, from Merck's site -- you'll need to provide a name and email, to sign into the webstream:
▲ Merck does not expect to see the currency benefits it experienced during Q1 persisting in Q2 through Q4 2010.▲ "Rapid erosion" in the US from Cozaar/Hyzaar going generic, after the quarter closed, according to New President Kenneth Frazier -- but no quantification of that effect.
▲ Merck did not disclose an adjusted for merger Q4 2009 US Vytorin sales figure, so we can't really tell what the quarter over quarter sales decline was. But it was clearly a decline.
▲ Q1 2010 Vytorin revenue is flat worldwide, but down another 11.5 percent in the US, compared to Q1 2009. Ouch.
▲ Zetia Q1 2010 sales actually grew a bit, but became available as a generic in select markets, after the quarter closed -- so that is not likely to repeat.
▲ EPS and other financial targets assume for 2010 that Merck retains full rights to Remicade and Simponi, in the applicable markets. That may be an unwise assumption, so take that EPS guidance with a truckload of salt. Or, does the guidance to the bottom of the analysts' range for EPS in 2010 reflect some "adjustment" for the probability that some or all of the Remicade/Simponi profits vanish -- go back to J&J's Centocor? Again, we'll see.
▲ Press Release: Merck guides full year 2010 Non-GAAP EPS down to between $3.27 and $3.41 (analysts had until now expected the top end of that range). Is this an overly cautious view? We'll see. GAAP 2010 EPS guidance will be $1.15 to $1.50, in Merck's view.
▲ Press Release: Full year 2010 revenue of $45.4 billion to $46.4 billion is Merck's guidance, and the mid point of that range is just slightly higher than anlaysts expected.
▲ See ya' mañana. . . .
▲ Consensus: Sales Revenue of $11.175 billion. . . .
▲ Consensus: $0.75 per share of Q1 EPS. . . .
No comments:
Post a Comment