Merck Posts Higher 3Q Sales

   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)

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