Summary by Futu AI
Merck & Co., Inc. (Merck) reported a robust financial performance for the first quarter of 2024, with worldwide sales reaching $15.8 billion, marking a 9% increase compared to the first quarter of 2023. Excluding the impact of foreign exchange, the growth rate was 12%. The company's growth was primarily driven by higher sales in the oncology franchise, particularly Keytruda and Welireg, and the vaccines franchise, with notable contributions from Gardasil/Gardasil 9 and Vaxneuvance. However, sales in the diabetes franchise saw a decline due to lower sales of Januvia and Janumet. Merck's business development activities included the acquisition of Harpoon Therapeutics for $765 million and the aqua business of Elanco Animal Health for $1.3 billion, which are expected to enhance its immunotherapy and animal health portfolios, respectively...Show More