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Financial Report: Merck

Pharmaceutical sales were up 2% to $11.3 billion in the quarter, driven primarily by growth in oncology and certain hospital acute care products.

By: Contract Pharma

Contract Pharma Staff

Merck

3Q Revenues: $12.6 billion (+1%)

3Q Earnings: $2.9 billion (+55%)

YTD Revenues: $35.5 billion (+1%)

YTD Earnings: $9.2 billion (+22%)

Comments: Pharmaceutical sales were up 2% to $11.3 billion in the quarter, driven primarily by growth in oncology and certain hospital acute care products, partially offset by the negative impact of the COVID-19 pandemic and the ongoing impacts of the loss of market exclusivity for several products. KEYTRUDA sales were up 21% to $3.7 billion in the quarter. JANUVIA and JANUMET sales were up 1% to $1.3 billion. Vaccine sales performance reflects higher sales of PNEUMOVAX 23, a vaccine to help prevent pneumococcal disease, up 58% to $375 million. attributable in part to increased demand during the COVID-19 pandemic. Vaccine sales were negatively affected by declines in sales of GARDASIL/GARDASIL 9, down 10% to $1.2 billion, largely due to lower demand attributable to the COVID-19 pandemic. PROQUAD, M-M-R II and VARIVAX sales were down 8% to $576 million. R&D expenses were $3.4 billion in the quarter, an increase of 6% driven by higher upfront payments related to collaborations and license agreements, higher expenses related to clinical development and increased investment in discovery research and early drug development. In the quarter, the FDA expanded the indication for KEYTRUDA as monotherapy for the treatment of adult patients with relapsed or refractory classical Hodgkin lymphoma (cHL). The estimated negative impact of the COVID-19 pandemic to pharmaceutical revenue was approximately $475 million.

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