Merck & Co sales disappoint, but Keytruda soars
US pharma giant Merck & Co (NYSE: MRK) posted revenue of $10.43 billion for the fourth quarter of 2017, a rise of 3% compared with the like 2016 period, but missed analysts’ consensus expectations of $10.5 billion.
Its pharmaceuticals business, which accounts for the vast majority, grew 4% to $9.3 billion in the quarter, with its Keytruda (pembrolizumab) generating sales of almost $1.3 billion, a year-on-year rise of 169%.
Merck recorded a net loss of $872 million, or $0.32 share, compared with a net loss of $594 million, or $0.22 per share, in the year-earlier quarter. The company’s shares were down 2.17% at $58.56 by close of trading on Friday.
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