Merck Posts Higher 3Q Sales
October 29 2019 - 7:40AM
Dow Jones News
By Dave Sebastian
Merck & Co. (MRK) posted higher third-quarter sales, driven
by gains in oncology and vaccines sales, that drove adjusted
earnings above analysts' expectations.
The pharmaceutical company posted net income of $1.9 billion, or
74 cents a share, compared with $1.95 billion, or 73 cents a share,
in the comparable quarter last year. Analysts polled by FactSet
were expecting $1.01 a share.
Excluding a $982 million charge for the acquisition of Peloton
Therapeutics Inc. and other charges, earnings were $1.51 a share,
compared with $1.19 a share a year earlier. Analysts were looking
for $1.24 a share.
Sales for the quarter rose to $12.4 billion from $10.79 billion
in the prior year. Analysts were looking for $11.67 billion.
Sales of Keytruda, Merck's cancer treatment, rose 62% to $3.07
billion for the quarter. Vaccine sales grew 17% to $2.5 billion,
Merck said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 29, 2019 07:25 ET (11:25 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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