Keytruda key to Merck & Co's 15% sales rise
US pharma giant Merck (NYSE: MRK) today announced financial results for the third quarter of 2019, which beat analysts’ forecasts by significant margins, and sent the firm’s shares up 2.45% to $82.20 in early trading.
Third-quarter 2019 worldwide sales were $12.4 billion, an Increase of 15%, which is nearly 8% more than consensus forecasts of $11.6 billion. Sales increased 16% excluding the impact from foreign exchange, driven by oncology and human health vaccines, with sales of the latter portfolio growing 17% to $2.5 billion; excluding the impact of foreign exchange, sales grew 18%.
Net income fell to $1.90 billiion, or $0.74 per share, compared to $1.95 bllion, or $0.73 per share, a year earlier, hit by a $982 million charge related to its acquisition of Peloton Therapeutics. Non-generally accepted accounting priniciple (GAAP) earnings per share were up 27% at $1.51, also beating analysts' average estimates of $1.24.
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