From CNBC: 2024-04-25 11:12:55

Merck reported first-quarter revenue and adjusted earnings that exceeded expectations thanks to robust sales of Keytruda and vaccines. The company raised full-year revenue and adjusted earnings forecasts. Merck’s net income for the quarter was $4.76 billion, or $1.87 per share. Revenue for the quarter was $15.78 billion, up 9% from a year ago.

Merck is anticipating Keytruda’s patent expiration in 2028 by focusing on new deals and drug launches. Winrevair, a lung medication approved in the U.S., is projected to reach worldwide sales of $5 billion by 2030. The company is cutting costs under a restructuring program and recorded $246 million in charges related to restructuring in the first quarter.

Merck’s pharmaceutical unit saw a 10% increase in revenue to $14.01 billion, mainly driven by Keytruda sales of $6.95 billion, up 20% from the previous year. Gardasil brought in $2.25 billion in sales, while Vaxneuvance revenue grew by 106%. Januvia sales declined by 24% due to lower prices, falling demand, and generic competition.



Read more at CNBC:: Merck (MRK) earnings Q1 2024