Merck Raises Forecast as Sales of Its Cancer Immune Therapy Soar [BNN Bloomberg (Canada)]
Merck & Company, Inc. (new) (MRK)
Last merck & company, inc. (new) earnings: 4/28 06:45 am
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Source: BNN Bloomberg
Adjusted earnings for the year will be $8.53 to $8.65 a share, the company said in a statement, up from the $8.44 to $8.59 guidance it gave in February. Keytruda sales for the quarter zoomed 20% to $6.9 billion, ahead of the $6.7 billion average foreseen by analysts. Revenue and profit beat expectations. Merck has been seeking new sources of growth as Keytruda, an immune therapy for many types of cancer, faces price pressure later this decade. Last year, it bought Prometheus Biosciences Inc., which develops drugs for autoimmune disorders, for $10.8 billion and made a pact with Daiichi Sankyo Co. worth up to $22 billion to sell three of its cancer compounds. Last month, it closed a smaller deal to buy Harpoon Therapeutics Inc., which is testing immune therapy drugs for cancer. The company's most important new source of growth may come from one of Chief Executive Officer Rob Davis's first deals. In late March, Merck won US approval for Winrevair, a new drug for a rare form of high
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MRK
Earnings
- 4/25/24 - Beat
MRK
Sec Filings
- 5/3/24 - Form 10-Q
- 5/2/24 - Form 4
- 5/2/24 - Form 4
- MRK's page on the SEC website