Summary by Futu AI
Merck & Co., Inc., a leading pharmaceutical company, reported its financial results for the third quarter of 2024 on October 31, 2024. The company announced total worldwide sales of $16.7 billion, marking a 4% increase from the third quarter of 2023, with growth excluding the impact of foreign exchange at 7%. KEYTRUDA, Merck's cancer drug, saw sales grow by 17% to $7.4 billion, while Animal Health sales increased by 6% to $1.5 billion. The company's GAAP EPS was $1.24, and Non-GAAP EPS was $1.57, both including a net charge of $0.79 per share related to business development transactions. Merck also highlighted significant milestones in its vaccine programs and the completion of the acquisition of CN201 (MK-1045) from Curon Biopharmaceutical. The company narrowed its expected worldwide sales range for the full year of 2024 to be between $63.6 billion and $64.1 billion and adjusted its Non-GAAP EPS outlook to be between $7.72 and $7.77, reflecting a net negative impact related to business development transactions.
