Merck Keytruda sales soar, but European application pulled [Reuters]
Merck & Company, Inc. (new) (MRK)
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Source: Reuters
Merck Keytruda sales soar, but European application pulled | Reuters 4 Min Read (Reuters) - Merck & Co ( MRK.N ) on Friday said quarterly sales of its Keytruda cancer immunotherapy exceeded $1 billion for the first time, but it withdrew an application for European use of the drug in lung cancer, raising questions about future sales. Merck’s shares, which fell 6 percent to close at $58.24, were down another 3 percent at $56.68 after hours. Despite a near tripling in Keytruda sales to $1.05 billion, Merck said that the cost of a June cyber attack that temporarily crippled manufacturing coupled with lower sales of off-patent products caused its third-quarter revenue to fall 2 percent to $10.33 billion. The drugmaker said nearly one in three new lung cancer patients in the United States were starting with Keytruda and that the launch in bladder cancer was going well. Lung cancer is by far the most lucrative oncology market. Despite approvals for numerous cancer types, “Keytruda is almos
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