PFE - Biotech News Recap: Merck Boasts Another Impressive Quarter Keytruda Dominance Highlighted
Merck (MRK) - Sporting a market capitalization of nearly $200 billion, the company reported an impressive first quarter with global sales increasing 8% to $10.8 billion. Performance in China was also a source of optimism, with sales rising 58% to $725 million (67% increase if impact of foreign exchange rate taken out of the picture). Expect China growth to continue with important approvals such as Keytruda (in April) getting the green light in first-line metastatic nonsquamous NSCLC in combination with chemo. Growth in Latin America (+25%) was also encouraging.
GAAP earnings per share