Profit Exceeds Expectations But 2010 Defined By Cladribine Failure

BMI View: Merck KGaA has published strong 2010 financial results, but the year will be primarily remembered for cladribine's failure to gain approval and the acquisition of Millipore, which joins the company's chemical division. With competition looming for the group's biggest selling drug Rebif (interferon β-1α) from Novartis's Gilenya (fingolimod), 2011 must bring increased emerging market sales to offset lost revenues and slow developed market

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