From CNBC:

Pharmaceutical giant Merck & Co. reported strong Q4 earnings and revenue fueled by demand for blockbuster cancer drug Keytruda and HPV vaccine Gardasil. Despite these wins, the company posted a net loss due to charges associated with the Daiichi Sankyo deal to co-develop three cancer treatments. Q4 earnings were 3 cents adjusted per share, beating the Wall Street expected loss of 11 cents per share. Merck’s revenue hit $14.63 billion, up 6% from the same period last year.

Merck faces the impending patent expiration of Keytruda in 2028, meaning they’ll have to draw revenue from other areas. The company expects 2024 revenue to be between $62.7 billion and $64.2 billion with adjusted earnings of $8.44 to $8.59 per share. This forecast includes a one-time charge of 26 cents per share related to the acquisition of Harpoon Therapeutics.

The pharmaceutical business, particularly the drug Keytruda, drove growth for Merck during Q4. Keytruda booked $6.61 billion in revenue, up 21% from the year-earlier quarter. Sales of Gardasil, a vaccine against HPV, also jumped by 27% to $1.87 billion. In contrast, sales of the COVID antiviral pill Lagevrio fell to $193 million, down 77% from the same period a year ago. The Type 2 diabetes treatment Januvia also saw a sales decline to $787 million during the quarter. Despite this, demand for companion animal products drove a 4% increase in sales for Merck’s animal health division.



Read more: Merck (MRK) Q4 earnings report 2023