Merck & Company ( (MRK) ) has released its Q3 earnings. Here is a breakdown of the information Merck & Company presented to its investors.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Merck & Company, also known as MSD outside the United States and Canada, is a leading biopharmaceutical company that develops and manufactures medicines and vaccines for a wide range of health conditions across human and animal health sectors.
In its third-quarter earnings report for 2024, Merck announced total worldwide sales of $16.7 billion, reflecting a 4% increase from the previous year, with a 7% growth excluding foreign exchange impacts. Key products like KEYTRUDA and new launches, including WINREV AIR, significantly contributed to the sales growth.
The company’s third-quarter performance was marked by a 17% increase in KEYTRUDA sales and 6% growth in its Animal Health segment. However, there was a noticeable decline in GAAP net income by 33% to $3.2 billion, attributed to charges from recent acquisitions, notably EyeBio and CN201. Non-GAAP EPS also saw a decrease to $1.57 from $2.13 the previous year.
Merck’s pipeline and portfolio developments included significant milestones in oncology, vaccines, and immunology, with multiple new approvals and clinical trial advancements. The acquisition of new therapies from companies like Curon Biopharmaceutical highlights Merck’s focus on expanding its portfolio.
Looking forward, Merck narrows its full-year sales forecast to between $63.6 billion and $64.1 billion, while expecting non-GAAP EPS to be in the range of $7.72 to $7.77. The company remains confident in its ability to drive growth through its robust pipeline and strategic acquisitions.
