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Merck’s Keytruda & COVID Pill Push Quarterly Beat- $MRK $DIA

By John F. Heerdink, Jr.

Reportedly, Merck & Co., Inc.’s (MRK) quarterly earnings beat estimates reporting a 50% increase in revenue to $15.9 billion with the majority of the growth coming from sales of molnupiravir (approved in November). The drugmaker also raised its full-year forecasts on strong demand for top-selling cancer drug Keytruda, its Gardasil vaccine, and COVID-19 antiviral pill molnupiravir. Excluding molnupiravir sales, revenue increased 19% in the first quarter. Sales of Merck’s cancer immunotherapy Keytruda increased 23% to $4.8 billion, about $300 million more than analysts had forecast.

“We have the capacity to supply more to the market and it really depends on what happens with the pandemic. It depends on whether we do see more outbreaks, new variants,” stated Chief Financial Officer Caroline Litchfield.

Gardasil brought in $1.46 billion in the quarter, exceeding Wall Street estimates of around $200 million. Molnupiravir sales stood at $3.2 billion, exceeding analyst estimates by around $100 million. Excluding one-time items, Merck earned $2.14 a share, exceeding analysts’ average estimate of $1.83. Merck revised its forecast for annual profit to $7.24 to $7.36 per share and sales to $56.9 billion to $58.1 billion, from its previous range of $7.12 to $7.27 a share and revenue of $56.1 billion to $57.6 billion.

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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(Read Original Story: Merck raises 2022 forecast as COVID pill, cancer drug fuels profit beat in Reuters)


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