Profit beats as Keytruda sales surge


Drugmaker Merck reported a better-than-expected quarterly profit on Tuesday and raised its full-year earnings forecast as sales of its blockbuster immunotherapy, Keytruda, crossed the $3 billion mark for the first time in a single quarter.

Keytruda has driven much of Merck’s recent growth, given its position as a mainstay treatment for newly diagnosed patients with advanced lung cancer, the most lucrative oncology market.

Sales of the therapy rose 62.5% to $3.07 billion, sweeping past estimates of $2.88 billion, according to five brokerages polled by Refinitiv.

Profit was also boosted by the company’s line of vaccines for diseases, including chickenpox and measles, that brought in revenue…

Source cnbc.com

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