Merck tops earnings estimates on strong demand for Keytruda, new drugs even as HPV vaccine sales fall
Publishing timestamp: 2024-10-31 12:48:56
Summary
Merck reported third-quarter revenue and adjusted earnings that topped expectations, driven by strong sales from Keytruda and other treatments. However, the company's HPV vaccine, Gardasil, saw lighter-than-expected sales. Merck narrowed its full-year sales forecast and adjusted profit guidance, causing shares to fall nearly 3%. Despite challenges, Merck is preparing for Keytruda's patent expiration in 2028 and has a pipeline of new drugs and vaccines in development.
Sentiment: MIXED
Tickers: MRK,
Keywords: business news, united states, earnings, breaking news, breaking news: earnings, business, merck & co inc, china, pharmaceuticals, breaking news: business, health care industry, biotech and pharmaceuticals, joe biden, biotechnology,
Source: https://www.cnbc.com/2024/10/31/merck-mrk-earnings-q3-2024.html