uploads///Hospital Acute care

Bridion Could Drive Merck’s Acute Hospital Care Franchise in 2017

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Jul. 24 2017, Updated 9:06 a.m. ET

Bridion’s revenue trends

In 2016, Merck’s (MRK) Bridion reported revenues of ~$482 million, which reflected ~37% year-over-year (or YoY) growth. Bridion’s 2016 revenues witnessed an ~2% favorable impact from foreign exchange. 

In 1Q17, Bridion generated revenues of around $148 million, which reflected ~64% growth YoY and 6% growth quarter-over-quarter. The company expects strong demand from Europe and emerging markets in 2017.

Bridion (sugammadex) is used in adults during surgery for the reversal of neuromuscular blockade induced by rocuronium bromide and vecuronium bromide. The chart below represents the revenue curve of Merck’s Acute Hospital Care franchise.

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Revenue trends for Cancidas

Cancidas, an anti-fungal agent, generated revenues of around $558 million in 2016, which reflected an ~3% decline YoY. The 2016 cancidas revenues witnessed a 4% unfavorable effect due to foreign exchange. 

In 1Q17, Cancidas generated revenues of around $121 million, which is an ~9% decline YoY and a 20% decline quarter-over-quarter. The lower pricing in Europe and the decreased sales in some emerging markets led to a drop in the drug’s revenues in 1Q17.

Noxafil’s revenue trends

In 2016, Noxafil reported revenues of $595 million, which represents ~22% growth YoY. In 1Q17, Noxafil reported revenues of around $141 million, which is an ~3% decline YoY and an ~12% decline quarter-over-quarter. Noxafil (posaconazole) is an anti-fungal agent.

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Invanz’s revenue trends

Invanz (ertapenem sodium) is an antibacterial agent indicated for intra-abdominal infections, community-acquired pneumonia, urinary tract infections, acute pelvic infections, and certain other bacterial infections. 

In 2016, Invanz reported revenues of around $561 million, which is an ~1% decline YoY. In 1Q17, Invanz generated revenues of around $136 million, which represents ~19% growth YoY and an 11% decline quarter-over-quarter.

Cubicin’s revenue trends

In 2016, Cubicin reported revenues of around $558 million, which reflected an ~3% decline YoY. In 1Q17, Cubicin generated revenues of around $96 million, which is a whopping ~67% decline YoY and a 19% decline quarter-over-quarter. 

The expiry of the US composition patent in June 2016 led to generic erosion and a simultaneous decline in the drug’s sales in the US market. The company expects that its decline in US sales may continue in 2017.

Primaxin’s revenue trends

In 2016, Primaxin reported revenues of around $297 million compared to $313 million in 2015. In 1Q17, Primaxin generated revenues of around $62 million, which is an ~15% decline YoY and a 6% decline quarter-over-quarter.

Merck’s peers in acute hospital care drugs market include Johnson & Johnson (JNJ), Novartis (NVS), GlaxoSmithKline (GSK), AstraZeneca, F. Hoffman-La Roche Ltd., and Allergan. The Vanguard Value ETF (VTV) has ~1.6% of its total portfolio holdings in Merck.

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