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Merck Records High Q3 Profits, Beat Estimates

By John F. Heerdink, Jr.

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.

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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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