As per reports, Merck & Co., Inc. (MRK) reported Q3 profits last month performing ahead of market estimates, as it expects the majority of the blow from the ongoing Covid-19 pandemic to now be behind it. Merck earned $1.74 per share, beating analysts’ average estimates of $1.44 per share.
Sales of the drugs rose by 2% to $11.3B during the quarter, pushed primarily by growth in its cancer drugs Keytruda and certain hospital acute care products. Sales of Keytruda, an approved treatment for cancers including non-small-cell lung cancer, increased 21% to $3.7 billion, beating analyst’s estimates of $3.66 billion.
The company experienced increased demand for its bacterial pneumonia vaccine, Pneumovax 23, in the United States, Japan, and Europe.
Merck said it now expects a full-year adjusted profit of between $5.91 and $6.01 per share, in comparison to its prior forecast of $5.63 to $5.78 per share.
Merck & Co., Inc. (MRK) is a global healthcare solutions provider that has been working towards bringing forward medicine and vaccines for some of the world’s most challenging diseases for more than a century. They are committed to increasing health care access and continue to be at the leading edge of research. Merck has the industry’s largest immuno-oncology clinical research program. To learn more about Merck (MRK) and to track its ongoing progress please visit the Vista Partners Merck Coverage Page.
If you liked this story please consider, visiting the Atossa Therapeutics (ATOS) dedicated page at Vista Partners to learn about the Seattle-based biotech firm’s work towards finding therapeutic treatments for Breast Cancer and the Coronavirus.
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