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- Merck & Co Inc's MRK Q3 sales reached $13.2 billion, +20% Y/Y, beating the consensus of $12.33 billion.
- Excluding the foreign exchange impact, revenues were up 19%, reflecting strong demand for the Company's portfolio.
- Pharmaceutical sales increased 18% to $11.49 billion, reflecting strength in the Company's oncology and vaccine businesses.
- Keytruda sales grew 22% to $4.53 billion, and sales were up 21%, excluding forex impact.
- Vaccine sales rebounded, and Gardasil/ Gardasil 9 sales were up 68% to $2.0 billion, primarily driven by strong global demand, particularly in China.
- Animal Health's revenue expanded 16% to $1.4 billion.
- Adjusted EPS of $1.75 also surpassed the analysts' estimate of $1.55 and up from $1.37 posted a year ago.
- 2021 Guidance: Merck revised FY21 sales guidance to $47.4 billion - $47.9 billion (consensus of $48.16 billion), versus the earlier outlook of $46.4 billion - $47.4 billion.
- Merck continues to estimate that the pandemic will have a net unfavorable impact on 2021 revenues of less than 3%, all of which relate to the pharmaceutical segment.
- It expects an adjusted EPS of $5.65 - $5.70 (consensus $5.77), higher than the earlier estimate of $5.47 - $5.57.
- Price Action: MRK shares are up 1.91% at $83.10 during the premarket session on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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