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Financial Report: Merck

April 29, 2014

Revenues down 4% in the quarter

1Q Revenues: $10.3 billion (-4%)

1Q Earnings: $1.7 billion (+7%)

Comments: Pharmaceutical sales were down 5% to $8.5 billion, including a 2% negative impact from foreign exchange, and loss of market exclusivity for products, including TEMODAR (-62%), NASONEX and SINGULAIR (-19% and 20%, respectively) and COZAAR (-23%). Combined sales of ZETIA and VYTORIN decreased 5% to $972 million, driven by lower demand in the U.S. Combined sales of REMICADE and SIMPONI were up 16% to $760 million in the quarter. ISENTRESS sales were up 8% to $390 million.