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Merck 4Q Growth Driven by Oncology, Vaccines

Partially offset by a decline in virology, due to COVID-19 vaccine LAGEVRIO, and in diabetes due to JANUVIA.

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By: Kristin Brooks

Managing Editor, Contract Pharma

Merck
4Q Revenues: $14.6 billion (+6%)
4Q Loss: $1.2 billion (earnings were $3.0 billion 4Q22)
FY Revenues: $60.1 billion (+1%)
FY Earnings: $14.5 billion (-97%)
Comments: Pharmaceutical sales were $13.1 billion, up 8% driven by growth in oncology, vaccines and hospital acute care, partially offset by a decline in virology, due to COVID-19 vaccine LAGEVRIO, and diabetes. LAGEVRIO sales were down 77% due to nonrecurrence of sales in the U.K. and lower demand in Japan and Australia. JANUVIA/JANUMET sales were down 14% to $787 million primarily due to generic competition in several international markets, particularly in Europe, and lower demand in the U.S.
 
KEYTRUDA sales were $46.6 billion, up 21% driven by increased global uptake in earlier-stage indications, including triple-negative breast cancer and renal cell carcinoma (RCC), and continued strong global demand from metastatic indications. PROQUAD, M-M-R II and VARIVAX sales were up 4% to $545 million, largely due to higher pricing in the U.S. BRIDION sales were $429 million, down 3% primarily due to generic competition particularly in Europe, partially offset by higher demand in the U.S. Lynparza sales were $315 million, up 8% driven primarily by higher pricing in the U.S. ROTATEQ sales were $185 million, up 34% due to public-sector buying patterns in the U.S. and timing of shipments in China. VAXNEUVANCE sales were $176 million, up 28% driven by launches in Europe and continued uptake for the pediatric indication in the U.S.

Results in the quarter were impacted by a charge of $1.69 per share related to the collaboration with Daiichi Sankyo, the unfavorable impact of foreign exchange, and higher restructuring costs.

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