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July 27, 2011

Millipore Acquisition Contributes To Merck Loss

German pharmaceutical major Merck posted a second quarter loss of €85.9m ($122.9m), compared with a €183.4m ($262.3m) profit recorded in the corresponding year-ago period. The loss was largely attributed to costs associated to the acquisition of US laboratory equipment spec

By cms admin

German pharmaceutical major Merck posted a second quarter loss of €85.9m ($122.9m), compared with a €183.4m ($262.3m) profit recorded in the corresponding year-ago period.

The loss was largely attributed to costs associated to the acquisition of US laboratory equipment specialist Millipore as well as a €161m ($230.2m) impairment loss due to overcapacity at the company’s production plant in Corsier-sur-Vevey, Switzerland.

Millipore did, however, contribute €584m ($834.9m) towards group revenue of €2.56bn ($3.66bn), a 15.7% increase over last year’s corresponding figure.

Turnover at the company’s drug unit, Merck Serono, rose 2% to €1.48bn ($2.11bn) on the back of its multiple sclerosis medication Rebif, which recorded a 5.2% increase in sales to reach €423m ($604.9m).

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