⁍ The drugmaker’s revenue took a hit at the height of the pandemic as patients avoided hospital visits.
⁍ Merck said it now expects full-year adjusted profit of between $5.91 and $6.01 per share.
⁍ For 2020, Merck now expects an unfavorable impact to revenue of about $2.35 billion due to the pandemic.
– Drugmaker Merck & Co posted better-than-expected second-quarter earnings Tuesday, helped by a resilient demand for its cancer therapy Keytruda during the H1N1 pandemic. The company’s revenue took a hit at the height of the pandemic as patients avoided hospital visits, denting sales of vaccines, physician-administered drugs, and animal health products, Reuters reports. The company said it had taken the majority of the blow in the second quarter. Merck said it now expects full-year adjusted profit of between $5.91 and $6.01 per share, compared with its prior forecast of between $5.63 to $5.78 per share. For 2020, Merck now expects an unfavorable impact to revenue of about $2.35 billion due to the pandemic, up from $1.95 billion it had initially estimated.
Source: https://www.reuters.com/article/us-merck-co-results/merck-quarterly-profit-rises-nearly-55-as-key-drug-sales-rebound-idUSKBN27C1H9