Merck & Co., Inc. CEO: Singulair, Economy to Make 2012-13 Tough But We Will Survive

Merck & Co. CEO Kenneth Frazier tells company shareholders that this year and next will be difficult. Speaking at the company’s annual meeting, Frazier noted the drugmaker’s top-selling product, asthma and allergy drug Singulair, gets U.S. generic competition soon. That will sharply reduce revenue from Singulair, which brought in $5.5 billion last year. He also cited an uncertain global economy. But he said Merck has a history of overcoming big patent expirations by developing new medicines and increasing sales of existing ones.

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