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Merck & Co | 8-K: Merck Announces Second-Quarter 2024 Financial Results

SEC ·  Jul 30 18:46
Summary by Futu AI
Merck & Co., Inc., a leading pharmaceutical company, reported its financial results for the second quarter of 2024 on July 30, 2024. The company saw a 7% increase in total worldwide sales compared to the second quarter of 2023, reaching $16.1 billion. This growth was attributed to an 11% increase excluding the impact of foreign exchange. KEYTRUDA, Merck's cancer drug, experienced a 16% sales growth to $7.3 billion, with an even higher growth rate of 21% excluding foreign exchange influences. The company's GAAP earnings per share (EPS) was $2.14, while non-GAAP EPS was $2.28. Merck also highlighted the successful initial launch of WINREVAIR in the U.S. and positive opinions from the EU CHMP for adults with PAH. Additionally, the company completed acquisitions of EyeBio and Elanco's Aqua Business...Show More
Merck & Co., Inc., a leading pharmaceutical company, reported its financial results for the second quarter of 2024 on July 30, 2024. The company saw a 7% increase in total worldwide sales compared to the second quarter of 2023, reaching $16.1 billion. This growth was attributed to an 11% increase excluding the impact of foreign exchange. KEYTRUDA, Merck's cancer drug, experienced a 16% sales growth to $7.3 billion, with an even higher growth rate of 21% excluding foreign exchange influences. The company's GAAP earnings per share (EPS) was $2.14, while non-GAAP EPS was $2.28. Merck also highlighted the successful initial launch of WINREVAIR in the U.S. and positive opinions from the EU CHMP for adults with PAH. Additionally, the company completed acquisitions of EyeBio and Elanco's Aqua Business in July 2024. Merck raised its full-year 2024 financial outlook, expecting worldwide sales to be between $63.4 billion and $64.4 billion, and non-GAAP EPS to be between $7.94 and $8.04, reflecting a negative impact from a one-time charge for the acquisition of EyeBio. The company's chairman and CEO, Robert M. Davis, expressed pride in the team's efforts to advance the pipeline and deliver innovative solutions to medical needs.

This announcement is a separate document:

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