Merck's Q3 Earnings Exceed Expectations Despite Gardasil Sales Slump in China

The pharmaceutical giant adjusts its annual sales forecast as demand for its HPV vaccine declines in China, affecting overall performance.

Merck reported third-quarter revenue of $16.66 billion, surpassing analyst expectations but noting a decline in Gardasil sales by 11% due to low demand in China.
The company's blockbuster cancer drug Keytruda saw a 17% increase in sales, contributing significantly to the quarter's positive earnings results.
Merck adjusted its full-year sales forecast to $63.6 billion–$64.1 billion, narrowing from previous estimates due to challenges with Gardasil in China.
Despite the Gardasil setback, Merck remains optimistic about long-term growth in China, anticipating potential expansion to male vaccinations.
Merck's stock experienced a drop following the announcement, reflecting investor concerns over the vaccine's performance in the Chinese market.