1Q Revenues: $11.7 billion (+1%)
1Q Earnings: $1.7 billion (+67%)
Comments: Pharmaceuticals sales were up 3%, driven by Januvia, up 24% to $919 million, Victrelis sales of $111 million, Janumet, up 29% to $392 million, Gardasil, up 33% to $284 million, Zostavax, up 68% to $76 million, and Isentress, up 15% to $337 million. Remicade sales declined 31% to $519 million as a result of territories transferred to Johnson & Johnson as a result of the arbitration settlement agreement Cozaar/Hyzaar sales dropped 21% to $336 million due to generic competition. Animal Health sales were up 8% and Consumer Care was up 7%. Alliance revenue, miscellaneous corporate revenues and third-party manufacturing sales declined 43% to $274 million, driven by lower revenue from AstraZeneca LP recorded by Merck, which declined 42% to $186 million, as well as by lower third-party manufacturing sales partially due to the divestiture of certain manufacturing facilities in 2011. Acquisition-related costs were $1.3 billion compared to $1.7 billion in 1Q11.