COVID-19 treatment, Keytruda boost Merck in 1Q
Better-than-expected sales of a COVID-19 treatment and its cancer blockbuster Keytruda helped push Merck past analyst profit forecasts in the first quarter.
Analysts were expecting $2.54 billion for the drug, which debuted late last year under the name molnupiravir.
Keytruda registered $4.81 billion in sales, while analysts expected $4.47 billion.
Overall, the drugmaker’s adjusted earnings totaled $2.14 per share, while total sales jumped 50% to $15.9 billion.
Analysts expected, on average earnings of $1.83 per share on about $14.55 billion in revenue in the quarter, according to FactSet.