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Merck beats earnings expectations, raises outlook on strong Keytruda and vaccine sales

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The first-quarter results come as Merck shows substantial progress in preparing for Keytruda’s patent expiration in 2028.

Merck reported first-quarter revenue and adjusted earnings that topped expectations as it posted strong sales of its blockbuster cancer drug Keytruda and vaccine products.

The company expects full-year adjusted earnings of $8.53 to $8.65 per share, up from its prior forecast of $8.44 to $8.59 per share.of Harpoon Therapeutics in January. The company develops immune-based cancer drugs. The guidance also includes a negative impact of 30 cents per share from foreign exchange changes.

in 2028. The loss of exclusive rights to the drug will likely cause sales to fall, forcing the company to draw revenue from elsewhere. The company recorded charges of $246 million related to restructuring in the first quarter, which are excluded from its adjusted results.Merck's pharmaceutical unit booked $14.01 billion in revenue during the first quarter, up 10% from the same period a year ago. That division develops a wide range of drugs for several disease areas, including oncology and infectious diseases.

 

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