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Essay / Research Paper Abstract
This 5-page paper compares the 2001 financial statements of pharmaceutical giants Merck & Co., Inc. and Pfizer, Inc. The essay features an analysis of various financial factors (such as price-earnings ratio, net sales and debt-equity ratio) and explains financial performance through the companies' 2001 activities. Bibliography lists 2 sources.
Page Count:
5 pages (~225 words per page)
File: D0_MTmerpfi.rtf
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Unformatted sample text from the term paper:
Its costly to be in the pharmaceutical industry even during the best of times - it takes many resources to bring a drug from the research and testing phase all
the way to market. But in an economic downturn, pharmaceutical companies tend to gamble a little more, with the hopes that the next drug they produce will be the one
that yield a high profit. In this paper, well compare various financial information between these two "druggernauts," as Hoovers Business Profiles terms them;
Merck & Co., Inc. and Pfizer, Inc. Well then describe some supporting reasons as to the results. Below is a chart that compares various financials between the two companies during
2001. Merck Pfizer Sales ($ millions) $47,715.7 $32,259.0 Net Income ($ millions) $7,281.8 $7,788.0 Income as % of Sales 15.26 24.14 Earnings Per Share 3.14 1.22 Stock
Price (High) 95.25 46.75 Stock Price (Low) 56.80 34.00 Stock Price (Close) 56.80 39.85 Price/Earnings (High) 30 37 Price/Earnings (Low) 18 27 Dividends Per Share 1.37 .44 Book Value Per
Share 7.06 2.91 Debt Ratio 23.02% 12.48% Return on Equity 47.16% 45.32% Debt/Equity Ratio 1.12 1.35 Long-term debt ($ mill) $4,798.6 $2,609.0 R&D as % of Sales 2500 4.847
A quick comparison of the financials shows some interesting differences between these two companies. Sales of Merck were noticeably higher than those
of Pfizer during 2002, despite the fact that Pfizer spends more on advertising and boasts more subsidiaries than rival Merck. The real figure to examine here, however, is the income
as a percentage of sales. Mercks figure is much less than that of Pfizers - meaning that more of Mercks sales money is going to other places - probably to
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