Sales of Merck's cancer treatment Keytruda soar in 3Q

Sales of Merck's cancer treatment Keytruda soar in 3Q


1 photo

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

KENILWORTH, N.J. (AP) — Merck is reporting a very strong third quarter with sales of one of its key drugs soaring 62%.

The pharmaceutical company on Tuesday posted earnings of $1.9 billion, or 74 cents per share. Removing one-time costs, earnings were $1.51 per share, easily topping Wall Street projections of $1.25, according to a survey by Zacks Investment Research.

Revenue jumped 15% to of $12.4 billion.

Sales of Merck's cancer immunotherapy drug Keytruda soared to $3.1 billion in the quarter.

Merck expects full-year earnings in the range of $5.12 to $5.17 per share, with revenue in the range of $46.5 billion to $47 billion.

_____

Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRK at https://www.zacks.com/ap/MRK

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Photos

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast