Earnings

Profit beats as Keytruda sales surge

0


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

Volkswagen sets up autonomous driving subsidiary, plans US site

Previous article

Goldman says there are three big stock buyers that will keep the record rally going

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Earnings