Estimates Audited

Analysts’ estimates

A total of 31 banks and equity analysts reported regularly on and assessed Merck shares in 2009. As of the end of 2009, Merck shares were given buy recommendations by more than half of the 31 analysts who cover us.

Details of the individual analysts and their estimates can be found on our website at www.merck.de/investors.

A sustainable investment

We understand sustainability as ethical actions taken in line with the economic, ecological and social interests of all Merck stakeholders, such as our customers, suppliers, employees, and owners. Our efforts in these areas are continually analyzed and assessed by independent capital market institutes. Since 2008, Merck shares have been in the FTSE4Good Index, which comprises companies with highly sustainable business practices. Additionally, Merck shares are included in the DAX Global Sarasin Sustainability Germany Index.