The following is a summary of the Merck & Co., Inc. (MRK) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Total company revenues for Q1 2024 were $15.8 billion, up 9% or 12% excluding foreign exchange impact.

• Gross margin improved to 81.2%, an increase of 4.3 percentage points (p.p.)

• Operating expenses for the quarter decreased by 4% to $6.4 billion.

• Sales from KEYTRUDA, an oncology drug, experienced high growth of 24% amounting up to $6.9 billion.

• Projected full-year revenue for 2024 is anticipated to land between $63.1 and $64.3 billion, a 5% to 7% YoY growth.

• Earnings for Human Health and Animal Health business improved by 13% and 4% respectively.

Business Progress:

• Clinical advancements include the approval of WINREVAIR for adults with pulmonary arterial hypertension, and ongoing phase 3 ZENITH and HYPERION studies.

• The HIV research pipeline is advancing, focusing primarily on the once-weekly oral combination of islatravir, and lenacapavir.

• Merck is progressing with the development of a novel, multi-valent HPV vaccine. First-in-human study is slated for Q4.

• Merck has finalized the procurement of Harpoon Therapeutics, and is pursuing augmentation to its immuno-oncology, precision molecular, and tissue targeting portfolio.

• Clinical trials on their RSV targeted antibody clesrovimab show promise due to its high barrier to resistance and capability of providing passive immunity to infants.

• Subcu version of Merck's product is set to be launched in the U.S., with an estimated reach of about 50% of the patient population by 2028.

• Strides are being made towards the resumption of Islatravir, a product mentioned among those potentially aiding in diversifying the company's growth drivers.

More details: Merck & Co IR

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