Merck reported second-quarter revenue and adjusted earnings that topped estimates as it saw strong sales from its blockbuster cancer drug Keytruda as well as other treatments in its oncology and vaccines portfolios and a new cardiovascular drug.
The pharmaceutical giant also raised its full-year sales forecast to a range of $63.4 billion to $64.4 billion on increased demand for key products, particularly its oncology treatments. That's only slightly higher than the $63.1 billion to $64.3 billion guidance the company provided in April. The company's immunotherapy Keytruda recorded $7.27 billion in revenue during the quarter, up 16% from the year-earlier period. Analysts had been expecting $7.12 billion in Keytruda sales, according to estimates from StreetAccount.