Merck & Co Inc reported higher-than-expected first-quarter profit on Tuesday on ...
- Merck & Co Inc reported higher-than-expected first-quarter profit on Tuesday on increased demand for vaccines and cancer immunotherapy Keytruda, and the U.S. drugmaker raised its 2019 earnings and revenue forecasts.
Sales of Keytruda surged 55 percent to $2.27 billion. While shy of lofty Wall Street estimates of $2.33 billion, they topped Bristol-Myers Squibb’s rival drug Opdivo, which brought in $1.8 billion, for the fourth consecutive quarter. The company said it now expects full-year adjusted earnings of $4.67 to $4.79 per share, up from its prior forecast of $4.57 to $4.72. It raised its 2019 revenue forecast to $43.9 billion to $45.1 billion from $43.2 billion to $44.7 billion.Gardasil sales rose 27 percent to $828 million, beating analyst expectations by about $25 million.
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