Despite a rapidly deteriorating economic situation, total revenues of the Merck Group increased by 7.1% to € 7,558 million in 2008. On a currency-adjusted basis, we achieved growth of 11%.
The operating result rose by 16% to € 1,131 million. Return on sales (ROS) improved to 15.0%. Profit after tax from continuing operations increased from € –88 million to € 379 million owing to good business performance, the sharp decline in exceptional items as well as the nearly full repayment of debt.
The pharmaceutical business achieved double-digit growth rates. Our oncology drug Erbitux® was approved in mid-2008 in the European Union for the first-line treatment of metastatic colorectal cancer, as well as in Japan for second- and third-line treatment in this indication. In November, the EU drug regulatory authorities granted approval for the first-line treatment of head and neck tumors. Sales of Erbitux® increased 20% to € 565 million. Rebif®, our drug to treat multiple sclerosis, further expanded its leading position with sales of € 1,331 million, 9.3% more than in 2007.
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