MRK - Merck Posts Surprise Quarterly Profit Against An Expected Loss Oncology And Vaccines Drive Growth | Benzinga
Merck & Co Inc’s (NYSE:MRK) fourth-quarter 2023 sales reached $14.63 billion, up 6% Y/Y, beating the consensus of $14.50 billion.
Excluding Lagevrio and the impact of foreign exchange, growth was 14%.
Pharmaceutical sales increased by 8% to $13.14 billion, driven by oncology, vaccines, and hospital acute care growth, partially offset by a decline in virology due to Lagevrio (COVID-19 treatment) and diabetes.
Cancer drug Ketruda sales grew 21% to $6.61 billion. Lagevrio’s fourth-quarter sales declined 77% Y/Y to $193 million, and Gardasil/Gardasil sales grew 27% to $1.87 billion.
Adjusted EPS came in ...