Merck beats first-quarter expectations on Keytruda, Gardasil strength
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Bengaluru: Drugmaker Merck & Co Inc on Thursday posted better-than-expected results for the first quarter on the strength of its blockbuster cancer immunotherapy Keytruda and human papillomavirus (HPV) vaccine Gardasil.
Shares of the company rose 1.8 per cent to $114.98 in premarket trading after the drugmaker raised its full-year forecasts for sales and earnings, citing strong global demand for its drugs. The company's revenue fell year-over-year due to a sharp, but expected, drop in sales from COVID pill molnupiravir, and rose more than 10 per cent excluding that drug.
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