From RTTNews:

Merck & Co., Inc. reported a net loss in the fourth quarter, despite a 6 percent sales growth. A charge of $1.69 per share on collaboration agreements with Daiichi Sankyo contributed to the loss. Analysts had expected a loss of $0.11 per share. The company recorded total sales of $14.63 billion for the quarter, with pharmaceutical sales increasing 8 percent to $13.14 billion.

KEYTRUDA sales grew 21% to $6.61 billion, while GARDASIL / GARDASIL 9 sales increased 27% to $1.87 billion. Animal Health sales increased 4% to $1.28 billion. Further, Merck obtained FDA priority review of Biologics License Applications for V116, an investigational pneumococcal conjugate vaccine, as well as Merck and Daiichi Sankyo’s Patritumab Deruxtecan in the fourth quarter.

Looking ahead, Merck projects adjusted earnings in a range of $8.44 to $8.59 per share on sales between $62.7 billion and $64.2 billion for fiscal 2024. The company recently approved a new restructuring program (2024 Restructuring Program) to optimize its manufacturing network and improve supply reliability and efficiency.

The acquisition of Harpoon, expected to close in the first half of 2024, is anticipated to result in a non-tax deductible charge of approximately $650 million of R&D expense included in adjusted results. The impact of the transaction on expected full-year adjusted earnings per share is approximately $0.26 per share, which is included in the 2024 outlook.



Read more: Merck Guides FY24 EPS Above Estimates As Q4 Results Top Estimates