Merck: raises forecasts on strong Keytruda sales

(CercleFinance.com) - Merck has reported better-than-expected quarterly profit and raised its full-year forecasts on Tuesday, as demand for its blockbuster cancer drug Keytruda is increasing.


In the second quarter, Merck's net income rose by 18% to 3.35 billion dollars, or 1.30 dollar per share, compared to the consensus of 1.16 dollar.

Worldwide sales were 11.8 billion dollars, up 12% compared with the second quarter of 2018, the group said, while analysts were expecting 11 billion dollars on average.

Growth was largely driven by a near 1 billion dollar increase in sales for its key immunotherapy treatment, Keytruda, to 2.6 billion dollars, helped by strong momentum from lung cancer indications.

The company narrowed and raised its full-year 2019 revenue range to between 45.2 billion dollars and 46.2 billion dollars, as well as its full-year 2019 EPS range to be between 4.84 dollars and 4.94 dollars.

Merck shares were up 3.5% in premarket trading on Tuesday. They have risen by about 8% year-to-date.

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