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.
高盛最近與默沙東國際人類健康總裁喬·羅馬內利討論，審查Gardasil在中國市場上的表現和未來前景。
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疫苗適用於9-45歲的女孩和婦女，預防由人乳頭瘤病毒（HPV）類型引起的宮頸、外陰、陰道、肛門、口咽、頭頸等部位的癌症。
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此外，還有消息稱：Bristol Myers、強生、艾伯維、阿斯利康預計無法承受即將到來的醫保價格談判的最小影響。
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.
在其第二季度業績中，默沙東透露了中國疫苗市場的挑戰以及與合作伙伴中美賽高的運營問題，導致第二季度銷售額低於預期，下半年增長前景更加謹慎。
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在中國的銷售收入佔其總銷售額的約50％，美國約爲20％，其餘30％來自其他國際市場。
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.
在中國，Gardasil到目前爲止已經創造了約150億元的銷售額，達到了約2千萬承受疫苗費用的9-45歲女性目標群體的30-40％。目標是在這個人群中實現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.
默沙東在2024年第二季度的Gardasil銷售額略微增長了1％，達到24.8億美元。中國的銷售下降很大程度上抵消了增長。
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.
默沙東在全球範圍內，尤其是在過去7-8年的中國市場，爲滿足人乳頭瘤病毒疫苗的日益增長的需求做好了準備。這支持默沙東信心於2030年實現110億美元的Gardasil銷售額。
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.
'信懇智能'表示，短期內，高盛對中國疫苗市場的主要參與者的潛力仍持謹慎樂觀態度。儘管缺乏第三方數據來安撫投資者，該分析師仍看到積極的跡象。
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.
該分析師表示，默沙東對他們改善中美賽高商業執行計劃和通過科學和戰術創新來應對不斷變化的競爭動態的能力充滿信心，這讓他們感到放心。
"Overall, we came away from our conversation, net
"總的來說，相對於一開始的擔憂，我們從交流中得出了積極的結論。"高盛補充道。高盛重申了對默克的買入評級。
positive, relative to initial concerns," Goldman Sachs added. Goldman Sachs reiterates the Buy rating on Merck.
股票價格：上次檢查時，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：默沙東股票跌至112.66美元，下跌2.20%。最後確認時間爲週一。
Photo via Shutterstock
圖片來自shutterstock。
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