SPX4,264.24+56.97 1.35%
DIA337.03+3.32 0.99%
IXIC12,992.94+213.03 1.67%

Keytruda, Gardasil Boost Merck's Q2 Revenues, Tightens Annual Guidance

Benzinga · 07/28/2022 07:47
  • Merck & Co Inc's (NYSE: MRKQ2 sales reached $14.60 billion, +28% Y/Y, beating the consensus of $13.87 billion. Excluding the foreign exchange impact and COVID-19 treatment sales, revenues were up 20%.
  • Pharmaceutical sales increased 28% to $12.75 billion. The sales increased 16%, excluding Lagevrio (molnupiravir), primarily driven by oncology, vaccines, and hospital acute care products.
  • COVID-19 treatment drug Lagevrio (molnupiravir) sales were $1.2 billion, lower than the $3.2 billion generated in Q1 FY22.
  • Growth in oncology was primarily driven by higher sales of Keytruda, which rose 26% to $5.3 billion.
  • Vaccine sales rebounded, and Gardasil/ Gardasil 9 sales were up 36% to $1.7 billion, primarily driven by strong global demand, particularly in China.
  • Adjusted EPS of $1.87 also surpassed the analysts' estimate of $1.69 and was up from $0.61 a year ago.
  • 2022 Guidance: Merck expects FY22 sales of $57.5 billion - $58.5 billion compared to prior guidance of $56.9 billion - $58.1 billion and the consensus of $58.1 billion.
  • The company reaffirms sales of $5 billion - $5.5 billion from Lagevrio.
  • It expects an adjusted EPS of $7.25 - $7.35 (consensus $7.36) versus the previous range of $7.24 - $7.36.
  • Price Action: MRK shares are down 1.09% at $90.24 during the premarket session on the last check Thursday.