Merck's Blockbuster Vaccine Gardasil Sales In China: Analyst Highlights Challenges and Opportunities
Merck's Blockbuster Vaccine Gardasil Sales In China: Analyst Highlights Challenges and Opportunities
During its second-quarter earnings report, Merck revealed challenges in the broader Chinese vaccine market and operational issues with its partner Zhifei, which led to weaker-than-expected second-quarter sales and a more cautious growth outlook for the second half of 2024.Goldman Sachs recently discussed with Joe Romanelli, President of Human Health International at Merck & Co Inc (NYSE:MRK), to review Gardasil's performance and future outlook in China.
高盛最近与默沙东国际人类健康总裁乔·罗马内利讨论，审查Gardasil在中国市场上的表现和未来前景。
Gardasil vaccine is indicated for girls and women 9 through 45 years to prevent cervical, vulvar, vaginal, anal, oropharyngeal, and other head and neck cancers caused by Human Papillomavirus (HPV) types.
Gardasil疫苗适用于9-45岁的女孩和妇女，预防由人乳头瘤病毒（HPV）类型引起的宫颈、外阴、阴道、肛门、口咽、头颈等部位的癌症。
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During its second-quarter earnings report, Merck revealed challenges in the broader Chinese vaccine market and operational issues with its partner Zhifei, which led to weaker-than-expected second-quarter sales and a more cautious growth outlook for the second half of 2024.
在其第二季度财报中，默沙东透露了中国疫苗市场的挑战以及与合作伙伴中美赛高的运营问题，导致第二季度销售额低于预期，下半年增长前景更加谨慎。
Gardasil's sales revenue from China makes up about 50% of its total Gardasil sales, with the U.S. contributing around 20% and the remaining 30% coming from other international markets.
Gardasil在中国的销售收入占其总销售额的约50％，美国约为20％，其余30％来自其他国际市场。
In China, Gardasil has generated approximately $15 billion in sales so far, reaching an estimated 30-40% of the 200 million target population of females aged 9-45 who can afford the vaccine. The goal is to achieve 90% penetration in this demographic.
在中国，Gardasil到目前为止已经创造了约150亿元的销售额，达到了约2千万承受疫苗费用的9-45岁女性目标群体的30-40％。目标是在这个人群中实现90％的普及率。
Merck reported a marginal increase of 1% in Gardasil sales to $2.48 billion in the second quarter of 2024. Lower sales in China largely offset growth.
默沙东在2024年第二季度的Gardasil销售额略微增长了1％，达到24.8亿美元。中国的销售下降很大程度上抵消了增长。
Merck's global efforts, especially in China over the past 7-8 years, have positioned the company to meet the growing demand for HPV vaccinations. This supports Merck's confidence in achieving over $11 billion in Gardasil sales by 2030.
默沙东在全球范围内，尤其是在过去7-8年的中国市场，为满足人乳头瘤病毒疫苗的日益增长的需求做好了准备。这支持默沙东信心于2030年实现110亿美元的Gardasil销售额。
In the near term, Goldman Sachs remains cautiously optimistic about the potential for key players in China's vaccine market. Despite limited third-party data to reassure investors, the analyst sees positive signs.
'信恳智能'表示，短期内，高盛对中国疫苗市场的主要参与者的潜力仍持谨慎乐观态度。尽管缺乏第三方数据来安抚投资者，该分析师仍看到积极的迹象。
The analyst says it is reassured by Merck's confidence in their plans to improve commercial execution with Zhifei and their ability to navigate evolving competitive dynamics through scientific and tactical innovations.
该分析师表示，默沙东对他们改善中美赛高商业执行计划和通过科学和战术创新来应对不断变化的竞争动态的能力充满信心，这让他们感到放心。
"Overall, we came away from our conversation, net
"总的来说，相对于一开始的担忧，我们从交流中得出了积极的结论。"高盛补充道。高盛重申了对默克的买入评级。
positive, relative to initial concerns," Goldman Sachs added. Goldman Sachs reiterates the Buy rating on Merck.
股票价格：上次检查时，MRk股票下跌了2.20％，至每股112.66美元。
Price Action: MRK stock is down 2.20% at $112.66 at last check Monday.
行情：默沙东股票跌至112.66美元，下跌2.20%。最后确认时间为周一。
Photo via Shutterstock
图片来自shutterstock。
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