- Merck & Co Inc's (NYSE: MRK) Q1 sales reached $15.90 billion, +50% Y/Y, beating the consensus of $14.68 billion. Excluding the foreign exchange impact, revenues were up 52%.
- Pharmaceutical sales increased 53% to $14.11 billion, primarily driven by molnupiravir, oncology, vaccines, and hospital acute care products.
- Pharmaceutical sales growth, excluding Lagevrio sales, was 18%. COVID-19 treatment drug Lagevrio (molnupiravir) sales were $3.2 billion.
- Growth in oncology was primarily driven by higher sales of Keytruda, which rose 23% to $4.8 billion.
- Vaccine sales rebounded, and Gardasil/ Gardasil 9 sales were up 59% to $1.5 billion, primarily driven by strong global demand, particularly in China.
- Adjusted EPS of $2.14 also surpassed the analysts' estimate of $1.83 and was up from $1.16 posted a year ago.
- 2022 Guidance: Merck expects FY22 sales of $56.9 billion - $58.1 billion, compared to prior guidance of $56.1 billion - $57.6 billion and the consensus of $57.35 billion.
- The guidance includes expected sales of $5 billion - $5.5 billion from Lagevrio, compared to the earlier outlook of $5 billion - $6 billion.
- It expects an adjusted EPS of $7.24 - $7.36 versus the previous range of $7.12 - $7.27 (consensus $7.24).
- Price Action: MRK shares are up 1.88% at $86.00 during the premarket session on the last check Thursday.
Read at Benzinga