Irish-made drug boosts global profits by 5%

OSTEOPOROSIS treatment Fosamax, produced in Tipperary, pushed first-quarter profits at Merck & Co ahead by 5%.

Merck’s Irish subsidiary Merck Sharp & Dohme (Ireland) Ltd is based on 188 acres at Ballydine, Co. Tipperary and employs more than 450 people, producing bulk active ingredients for key Merck drugs like Midamor/Moduretic, Carace, Innovace, Zocor, Fosamax, Singulair, Aggrastat and Maxalt.

Net income at the world's third biggest pharmaceutical company increased to $1.7 billion, or 76 cents a share, from $1.6bn, 71 cents a share, in the same quarter of 2002. Sales rose 10% to $13.4bn from $12.2 bn.