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.
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