Merck Beats Estimates with 5% Sales Growth, Shares Fall

Pharmaceutical giant Merck reported a 5% increase in second-quarter sales to $16.61 billion, driven by strong performance from its Keytruda and Keytruda QLEX treatments. The company's shares fell 1.8% to $127.77 in premarket trading following the announcement.

Keytruda and Keytruda QLEX sales reached $8.37 billion, exceeding analysts' estimates of $16.36 billion. Despite this, Merck recorded a GAAP loss of $1.34 billion after earning $4.43 billion last year.

The company raised its 2026 revenue forecast to $66.3, $67.3 billion, following the successful completion of its $6.8 billion Terns acquisition. This addition brings MK-4208, an experimental treatment for chronic myeloid leukaemia, into Merck's portfolio.