Merck & Co Inc (NYSE:MRK, ETR:6MK) has topped third-quarter estimates despite flagging sales of its Gardasil jab, diabetes drugs and Covid-19 treatment.
Revenue for the three months to September climbed by 4% to $16.66 billion, the pharmaceutical firm reported on Thursday, ahead of market expectations for $16.46 billion.
Sales growth came on the back of higher Keytruda cancer drug usage, new launches of pulmonary arterial hypertension medicine Winrevair and pneumonia vaccine Capvaxive, as well as a boost from Merck’s animal health segment.
This was partially offset by lower sales of diabetes drugs Januvia and Janumet, Gardasil, which prevents cancer from sexually transmitted HPV, and Covid drug Lagevrio.
Muted demand in China hit Gardasil sales, Merck said, while weakness in Japan dragged on Lageviro and lower pricing, coupled with growing competition, affected revenue from the diabetes drugs.
Per share earnings fell by 26% to $1.57 in the meantime, though this was also above estimates for $1.50.
Merck noted lower profitability reflected charges related to its acquisition of Eyebiotech Ltd and novel B-cell associated disease treatment CN201 from Curon Biopharmaceutical.
“I continue to remain confident in the strength of our business and our ability to execute,” chief executive Robert M Davis commented.
“Our pipeline is advancing and expanding, demonstrating our success in creating a sustainable innovation engine, and positioning Merck with a more diversified portfolio to drive growth.”
Shares fell by 1.8% in pre-market trading.