Health and Healthcare
Merck Underwhelms Despite Beating Earnings
Published:
Last Updated:
When Merck & Co. Inc. (NYSE: MRK) reported its most recent quarterly results before the markets opened on Friday, the pharmaceutical giant said that it had $1.06 in earnings per share (EPS) and $10.5 billion in revenue. The consensus estimates had called for $1.03 in EPS and revenue of $10.29 billion. The same period of last year reportedly had EPS of $1.01 and $9.93 billion in revenue.
One of the main highlights from the quarter was that Merck continued to expand its oncology program by further advancing the development programs for Keytruda (pembrolizumab), the company’s anti-PD-1 therapy; Lynparza (olaparib), a PARP inhibitor being co-developed and co-commercialized with AstraZeneca; and Lenvima (lenvatinib mesylate), an orally available tyrosine kinase inhibitor being co-developed and co-commercialized with Eisai.
Looking ahead to the 2018 full year, Merck expects to see EPS in the range of $4.22 to $4.30 and revenues between $42.0 billion and $42.8 billion. The consensus estimates call for $4.23 in EPS and $42.07 billion in revenue.
Kenneth C. Frazier, Merck’s board chair and chief executive, commented:
Strong commercial execution globally for KEYTRUDA, GARDASIL, BRIDION and other products led the company to deliver growth in the second quarter. We continue to solidify our leadership in immuno-oncology and, along with our other key pillars of growth including Animal Health, we are confident in the strength of our business.
Shares of Merck traded down 1.1% Friday morning to $63.28. The consensus analyst price target is $69.44, and a 52-week trading range is $52.83 to $66.41.
24/7 Wall St.The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
