Merck Reports Strong Q3 Driven by Keytruda

Merck reported a 7% year-over-year growth in Q3 revenues, exceeding analyst expectations with over $16.6 billion in sales driven primarily by its cancer drug Keytruda, which saw a 21% increase in sales. Despite this success, Merck narrowed its full-year sales forecast and lowered adjusted profit guidance, anticipating earnings-per-share to be between $7.72 and $7.77, down from a previous range of $7.94 to $8.04. Keytruda's strong performance was complemented by new product launches like the pulmonary hypertension drug Winrevair, but sales of the HPV vaccine Gardasil and diabetes medication Januvia fell short of expectations. The company also faces challenges in the Chinese market, impacting Gardasil sales due to economic conditions and promotional issues. Overall, Merck's CEO expressed optimism about the company's portfolio positioning for a strong finish to the year.