Merck & Co's 2nd-qtr tops expectations

1 August 2023

US pharma giant Merck & Co (NYSE: MRK) today announced financial results for the second quarter of 2023 that topped expectations on strong sales of its blockbuster cancer drug Keytruda (pembrolizumab) and HPV vaccine Gardasil.

Sales for the three months came in at $15.04 billion, up 3% on the like, 2022 period (+7% at constant exchange rates). The company’s shares were up 2.95% at $109.80 in pre-market activity.

On a Generally Accepted Accounting Principles (GAAP) basis, loss/earnings per share (EPS) assuming dilution was a loss per share of $2.35 for the quarter. Non-GAAP loss per share was $2.06. Both GAAP and non-GAAP loss per share were due to a charge for the $10.8 billion acquisition of Prometheus Biosciences of $4.02 per share.

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