Merck stock was trading at $100.91 as of 09:49 AM EDT.
After reporting stronger-than-anticipated financial results for the third quarter of 2022, Merck ( NYSE:MRK ) saw its pre-market trading price increase on Thursday. The COVID-19 pill’s sales impact was minimized by Keytruda. In the midst of COVID-19 rehabilitation, Lagevro
Keytruda sales topped Street expectations to reach $5.3 billion with a 20% YoY gain, resulting in a 14% YoY increase in the quarter’s revenue to $15.0 billion. However, after surpassing $3 billion and $ 1 billion in Q2 and Q1, respectively, sales for Lagevrio, the COVID-19 medication Merck ( NYSE:MRK ) co-developed with Ridgeback Biotherapeutics , decreased to $436 million. Lacking the effects of Lagevrio and the exchange rate, growth was 14% YoY.
Human papillomavirus vaccines GARDASIL/GARDASIL 9 and diabetic drugs Januvia/Janumet brought in $2.3B and $1.1B with 15% YoY growth and 15% YoY fall, respectively, while sales from the Animal Health division fell by 3% YoY to $1.4 million.
Merck stock, earnings outlook
Gross margin for the quarter declined to 73.7% from 73.8% in the corresponding quarter a year earlier, and net income decreased by 29% YoY to $3.2 billion as R&D costs increased by 80% YoY to $4.4 billion mostly because of $887 million in intangible asset impairment losses related to the acquisition of ArQule, Inc. In line with the consensus estimates of $58.4 billion and $7.35 billion, respectively, Merck ( NYSE:MRK ) increased and narrowed its full-year guidance for revenue and ad...
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