The third quarter of 2012 saw a continuation of solid business trends that the Group has seen throughout 2012. Total revenues grew 12.2% to € 2,841 million (Q3 2011: € 2,532 million). This reflected 6.4% organic growth, a 5.7% benefit from changes in foreign exchange rates, and a 0.2% effect from acquisitions. Royalty, license and commission income, which is a part of total revenues, increased 22.7% to € 119 million (Q3 2011: € 97 million), benefiting primarily from higher royalty income from Humira® as well as a stronger US dollar since the Group’s royalty income is almost entirely recognized in that currency.
Merck Group | Sales by quarter/Jan.-Sept.
Sales, which are total revenues excluding royalty, license and commission income, grew by 11.8% to € 2,722 million (Q3 2011: € 2,434 million) and reflected 5.9% organic growth, a 5.7% benefit from changes in foreign exchange rates and an 0.2% increase from acquisitions. Solid performance in three of the four divisions contributed to sales growth, with the strongest contributions coming from the largest division, Merck Serono, which grew 5.3% organically, and Performance Materials which reported 19.7% organic sales growth in the quarter.