Surprise sales boost from COVID drug Lagevrio helps Merck & Co. top forecasts

26 Oct 2023
firstwordpharma.com
Financial Statement
Headline results for the third quarter:
Pharmaceutical product sales: $14.3 billion, up 10%
Overall revenue: $16 billion (forecasts of $15.3 billion), up 7%
Profit: $4.7 billion, up 46%
Note: All changes are versus the prior-year period unless otherwise stated
Other results:
Keytruda: $6.3 billion, up 17%
Vaccines: $4 billion, up from $3.6 billion in the prior year
Gardasil/Gardasil 9: $2.6 billion, up 13%
Proquad/M-M-R II/Varivax: $
Januvia/Janumet: $835 million, down 26%
Lagevrio: $640 million, up 47% and above estimates of $120 million
Looking ahead:
Merck now expects to generate sales this year of between $59.7 billion and $60.2 billion, lifted from a prior range of $58.6 billion to $59.6 billion. The increase comes as revenue from Lagevrio is now seen reaching $1.3 billion, up from an earlier estimate of approximately $1 billion.
However, earnings per share are anticipated to be between $1.33 and $1.38, slashed from a prior range of $2.95 on $3.05, reflecting a charge of $1.70 per share related to its recent deal with Daiichi Sankyo.
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