Frankfurt, GermanyMerck pharmaceutical sales reportedly increased 73 percent in net profit in 2010, and the German company is anticipating strong earnings growth this year as well, the Wall Street Journal reports.
The chemical and pharmaceutical company said recently that its revenues increased 20 percent and that its net profit jumped from €366.3 million in 2009 to €632.1 million in 2010, according to the news provider.
The company's optimism regarding its sales in 2011 may come from strong fourth-quarter showings from its multiple-sclerosis product Rebif, analyst Sebastian Frericks told the news source.
"The product did pretty well in the final quarter and Merck may have more confidence for the time being that it won't lose market share to Novartis AG's oral MS drug Gilenya," he said.
Sales of Rebif reportedly jumped by 8.6 percent in 2010, according to the news source.
The strong fourth-quarter sales and high 2011 projections are the latest victories for Merck's sales representatives, who recently won a court ruling that said they were eligible to receive overtime compensation, according to the Journal.
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