Merck Records High Q3 Profits, Beat Estimates

By John Heerdink LinkedIn
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. Merck reported its Q3 earnings report on Tuesday exceeding Wall Street expectations. The company also raised its 2019 profit forecast to $5.12 and $5.17 per share from a prior range of $4.84 to $4.94, surging stocks by 1.4% to $82.2 in early trading. Merck’s immunotherapy Keytruda drug, treating patients with advanced lung cancer hit more than $3-billion mark for the first time in a quarter topping estimates for the drugmaker. Keytruda has also proved effective for certain types of kidney cancer generated sales of $3.07 billion, up by 62.5% to in the third quarter beating past estimates of $2.88 billion, as per Refinitiv data. The company’s range of vaccines for diseases, including chickenpox and measles reported an increase in revenue by 17% to $2.5 billion. Gardasil, Merck’s cancer prevention vaccine sales rose 26% to $1.32 billion and beat expectations at $994.3 million. Total sales increased by 14.9% to $12.40 billion ahead of expectations at $11.64 billion. Net income dropped to $1.90 billion, from $1.95 billion a year earlier. Merck earned $1.51 per share, much ahead of analysts’ estimate of $1.24. To learn more about Merck (MRK) and to track its ongoing progress please visit the Vista Partners Merck Coverage Page. Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website:www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. Stay Informed! Stay Competitive! Sign Up to receive FREE email updates here! oct4(1)

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(Read Original Story: Merck profit beats estimates as Keytruda sales top $3 billion for the first time in CNBC)


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