Merck's Q1 revenue of $14.5B, although down 9% YoY, was an 11% increase if one excludes a drop in sales of its molnupiravir COVID-19 treatment.
After the business reported net profits of $2.82B or $1.11 per share, Merck's stock rose by 2% on Thursday, reflecting a market value of around $288B.
- Merck's adjusted earnings per share for Q1 were $1.40, beating Wall Street's expectations of $1.32.
- The international pharmaceutical corporation raised its estimates for 2023 sales to $57.7B-$58.9B and for full-year adjusted earnings per share to $6.88-$7.00.
- Molnupiravir sales plummeted to $392 million, down 88% YoY.
- Merck's sales of diabetes treatments decreased by 29% to $880M. In comparison, sales of Gardasil (HPV vaccine) increased by 35% to $2B due to solid demand in China, and Keytruda (Cancer Drug) increased by 20% to $5.8B due to generic competition and lower demand in the U.S.
