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Merck & Co | 8-K: Merck Announces Second-Quarter 2024 Financial Results

SEC ·  Jul 30, 2024 00:46

Summary by Moomoo AI

Merck delivered robust Q2 2024 performance with total revenue reaching $16.1 billion, up 7% YoY (11% ex-exchange). KEYTRUDA sales grew 16% to $7.3 billion, while GARDASIL/GARDASIL 9 revenue increased 1% to $2.5 billion. GAAP EPS was $2.14 and non-GAAP EPS was $2.28.The company achieved significant pipeline milestones, including FDA approval for CAPVAXIVE pneumococcal vaccine and positive Phase 2b/3 results for its RSV antibody clesrovimab. WINREVAIR's U.S. launch progressed with over 1,000 patients treated, while also receiving positive EU CHMP opinion for PAH treatment.Merck raised its full-year 2024 guidance, now expecting revenue of $63.4-64.4 billion and non-GAAP EPS of $7.94-8.04. The revised EPS outlook includes one-time charges of $0.51 per share for EyeBio acquisition and $0.26 per share for Harpoon acquisition, with foreign exchange expected to have a negative impact exceeding $0.30 per share.
Merck delivered robust Q2 2024 performance with total revenue reaching $16.1 billion, up 7% YoY (11% ex-exchange). KEYTRUDA sales grew 16% to $7.3 billion, while GARDASIL/GARDASIL 9 revenue increased 1% to $2.5 billion. GAAP EPS was $2.14 and non-GAAP EPS was $2.28.The company achieved significant pipeline milestones, including FDA approval for CAPVAXIVE pneumococcal vaccine and positive Phase 2b/3 results for its RSV antibody clesrovimab. WINREVAIR's U.S. launch progressed with over 1,000 patients treated, while also receiving positive EU CHMP opinion for PAH treatment.Merck raised its full-year 2024 guidance, now expecting revenue of $63.4-64.4 billion and non-GAAP EPS of $7.94-8.04. The revised EPS outlook includes one-time charges of $0.51 per share for EyeBio acquisition and $0.26 per share for Harpoon acquisition, with foreign exchange expected to have a negative impact exceeding $0.30 per share.
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