(MENAFN) Germany's Merck KGaA announced that fourth-quarter profit increased more than double to USD355 million, compared with USD173.36 million in the same period a year earlier, reported AP.
The pharmaceutical firm attributed the notable growth to the rise in prices for its Rebif multiple sclerosis drug, in addition to the company's restructuring.
It said that Rebif sales went up by 7.5 percent for the full year, to USD2.46 billion, offsetting sluggish sales growth for Erbitux, the cancer drug.
However, profit for the whole year declined by 7 percent to USD739.06 million, as a result of the USD656.94 million that Merck booked in non-repeating restructuring charges.
It is worth noting that the Darmstadt-based firm's quarterly revenue grew 8 percent, reaching USD3.68 billion, whereas full-year revenue reached USD14.55 billion, with an increase of 9 percent from a year before.
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