Pfizer and Merck Diverge in Q2 Performance Amid Revised Forecasts
Pfizer achieves revenue growth and raises guidance, while Merck lowers profit outlook despite strong drug sales.
Overview
- Pfizer reports first year-over-year revenue growth since 2022, driven by non-COVID products.
- Merck's Q2 revenue and EPS exceeded expectations, but acquisition costs lowered annual profit guidance.
- Pfizer raises its 2024 revenue and adjusted EPS forecast, bolstered by strong sales of cancer and heart drugs.
- Merck revises full-year sales forecast upwards, citing robust demand for Keytruda and new drug launches.
- Both companies saw significant movements in stock prices following their earnings announcements.