Merck: raises forecast on strong sales for Keytruda
(CercleFinance.com) - Merck reported a lower quarterly net profit on Thursday, but boosted its full-year earnings forecast as demand for its cancer drug Keytruda increased.
In the second quarter, Merck's net income fell to 1.7 billion dollars, or 63 cents per share, from 1.95 billion, or 71 cents per share, from a year earlier.
Second-quarter sales were 10.5 billion dollars, an increase of 5 per cent.
It is worth noting that the company's new cancer treatment Keytruda generated sales of 1.7 billion dollars in the quarter, up 89% compared to the 881 million dollars of the second quarter of 2017.
The company raised its full-year 2018 forecast to 2.51 to 2.59 dollars, or 4.22-4.30 dollars on a non-GAAP basis. Analysts on average expected a profit of 4.23 dollars per share this year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In the second quarter, Merck's net income fell to 1.7 billion dollars, or 63 cents per share, from 1.95 billion, or 71 cents per share, from a year earlier.
Second-quarter sales were 10.5 billion dollars, an increase of 5 per cent.
It is worth noting that the company's new cancer treatment Keytruda generated sales of 1.7 billion dollars in the quarter, up 89% compared to the 881 million dollars of the second quarter of 2017.
The company raised its full-year 2018 forecast to 2.51 to 2.59 dollars, or 4.22-4.30 dollars on a non-GAAP basis. Analysts on average expected a profit of 4.23 dollars per share this year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.