Overview
- Merck reported third-quarter revenue of $17.28 billion and adjusted EPS of $2.58, topping LSEG-polled estimates of $16.96 billion and $2.35.
- Keytruda sales rose about 10% to roughly $8.14 billion, marking the therapy’s first quarter above $8 billion.
- Gardasil revenue fell to $1.75 billion as shipments to China remain halted while distributors work through inventories.
- The company tightened its full-year forecast to $64.5–$65.0 billion in revenue and $8.93–$8.98 in adjusted EPS, citing lower tariff impacts along with an amended AstraZeneca deal benefit and costs from the Verona Pharma acquisition.
- Management reiterated a $3 billion cost-reduction plan through 2027 to brace for Keytruda’s 2028 patent expiry.