Merck 2008 Annual Report Download - page 120
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As of the balance sheet date, there are provisions in connection with the legal dispute
with the company Israel Bio-Engineering Project Limited Partnership (IBEP), in which
IBEP claims intellectual property rights and license fees in connection with funding
and developing Rebif® and other products.
In addition, there are provisions in connection with a legal dispute with Italfarmaco
S.p.A., Italy. The background is a license and supply agreement relating to the product
Rebif® that was concluded between the parties and has been terminated by Italfarmaco
S.p.A. in the meantime on account of alleged violations of the agreement by Serono.
Italfarmaco S.p.A. claims compensation for, among other things, loss of profit.
For various smaller pending legal disputes at companies of the Merck Group, provi-
sions that are considered appropriate from today’s perspective have been recognized.
Other provisions: This item mainly includes provisions for uncertain commitments
in the context of environmental protection measures as well as contributions, duties
and fees.
[31] Provisions for pensions and other post-employment benefits
The calculation of obligations as well as the relevant plan assets is based on the following
actuarial parameters:
in % 2008 2007
Discount rate 5.8 5.2
Future salary increases 3.2 3.2
Future pension increases 2.3 2.1
Staff turnover 2.0 2.1
Expected return on plan assets 5.6 5.9
Future increases in health care benefits 6.8 9.0
72 Income Statement
73 Balance Sheet
74 Segment Reporting
CONSOLIDATED FINANCIAL STATEMENTS OF THE MERCK GROUP
76 Cash Flow Statement
77 Free Cash Flow
77 Statement of Recognized
Income and Expense
78 Statement of Changes
in Net Equity including
Minority Interest
79 Notes
115