Merck’s Q3 2024 Report: Mixed Results with Keytruda Shining and Gardasil Struggling

Merck, a leading pharmaceutical company, shared its financial results for the third quarter of 2024, surprising some investors with better-than-expected earnings and revenue. The star of the show was Keytruda, their top-selling cancer drug, which continued to bring in strong sales. Newly launched treatments and the company's animal health segment also did well. However, Gardasil, the vaccine designed to prevent HPV-related cancers, saw a dip in sales, especially in China. Merck revised its full-year sales forecast to a lower range due to some business deals and adjusted its profit outlook. The company reported an adjusted earnings per share of $1. 57, beating the Wall Street forecast of $1. 50. Revenue for the quarter hit $16. 66 billion, slightly above the expected $16. 46 billion. Despite a 4% increase in revenue from the same period last year, the company's net income dropped to $3. 16 billion from $4. 75 billion. As the patent for Keytruda, one of Merck’s most successful drugs, nears expiration in 2028, the company is making strategic moves. They’re focusing on new treatments and partnerships to maintain revenue. Key launches include Winrevair, a drug for a severe lung condition, and Capvaxive, a vaccine to prevent bacterial infections.