Merck & Co. reported higher-than-expected third-quarter earnings on October 31, 2024, driven by robust sales of its blockbuster cancer treatment, Keytruda. However, the company also flagged a second consecutive quarter of weak demand for its Gardasil vaccine in China.
The company lowered its guidance for 2024 adjusted earnings per share to a range of $7.72 to $7.77, down from a prior outlook of $7.94 to $8.04. Third-quarter sales reached $16.7 billion, and the full-year guidance was revised to $63.6 billion to $64.1 billion.
Despite strong performance from Keytruda, the ongoing challenges with Gardasil sales in China and the revised full-year outlook indicate headwinds for Merck. Investors are closely monitoring the impact of these factors on the company's financial performance.
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