Merck reported Q3 2024 revenue of $16.7 billion, up 4% year-over-year, driven by strong performance in oncology and cardiovascular franchises. Keytruda sales grew 17% to $7.4 billion, while newly launched Winrevair contributed $149 million. The company recorded charges of $2.2 billion related to acquisitions of EyeBio and MK-1045 from Curon.Operating performance was mixed as gross margin improved to 75.5% from 73.3%, while R&D expenses surged 77% to $5.9 billion due to acquisition-related charges. Net income declined to $3.2 billion from $4.7 billion in Q3 2023, with EPS of $1.24 versus $1.86 last year. The effective tax rate increased to 22.7% from 15.5%.Looking ahead, Merck faces headwinds from generic competition for Januvia/Janumet and lower Gardasil sales in China. The company maintained strong cash flow with $18 billion from operations year-to-date. The Board declared a quarterly dividend of $0.77 per share, while $817 million was spent on share repurchases in the first nine months.

Merck reported Q3 2024 revenue of $16.7 billion, up 4% year-over-year, driven by strong performance in oncology and cardiovascular franchises. Keytruda sales grew 17% to $7.4 billion, while newly launched Winrevair contributed $149 million. The company recorded charges of $2.2 billion related to acquisitions of EyeBio and MK-1045 from Curon.Operating performance was mixed as gross margin improved to 75.5% from 73.3%, while R&D expenses surged 77% to $5.9 billion due to acquisition-related charges. Net income declined to $3.2 billion from $4.7 billion in Q3 2023, with EPS of $1.24 versus $1.86 last year. The effective tax rate increased to 22.7% from 15.5%.Looking ahead, Merck faces headwinds from generic competition for Januvia/Janumet and lower Gardasil sales in China. The company maintained strong cash flow with $18 billion from operations year-to-date. The Board declared a quarterly dividend of $0.77 per share, while $817 million was spent on share repurchases in the first nine months.