Summary by Moomoo AI
Merck reported strong Q2 2024 financial results with worldwide sales reaching $16.1 billion, up 7% year-over-year (11% excluding foreign exchange impact). Net income was $5.5 billion compared to a $6.0 billion loss in Q2 2023, with EPS of $2.14. Keytruda sales grew 16% to $7.3 billion, while Gardasil/Gardasil 9 vaccine sales increased 1% to $2.5 billion.The company's gross margin improved to 76.8% from 73.2% in Q2 2023, driven by favorable product mix and lower royalty rates for key products. Research and development expenses decreased to $3.5 billion from $13.3 billion in Q2 2023, which had included a $10.2 billion charge for the Prometheus acquisition. Operating cash flow strengthened to $8.7 billion in the first half of 2024.Looking ahead, Merck expanded its portfolio through strategic acquisitions, including Eyebiotech Limited for $1.3 billion and Elanco's aqua business for $1.3 billion in July 2024. The company continues to advance its pipeline with multiple regulatory submissions and approvals for Keytruda across various indications. The Board declared a quarterly dividend of $0.77 per share for Q3 2024.
