Merck Beats Expectations with Strong Q2 Sales

Pharmaceutical giant Merck reported stronger-than-expected second-quarter sales and increased its full-year revenue forecast. Worldwide sales reached $16.6 billion, a 5% increase from last year's same period.

The company attributed the growth to strong execution and contributions from new product launches. Keytruda, the world's best-selling prescription medicine, accounted for over half of Merck's worldwide sales at $8.4 billion.

However, Merck also cut its full-year non-GAAP earnings per share guidance to $2.66 to $2.76, down from $5.04 to $5.16 due to charges related to the acquisitions of Cidara Therapeutics and Terns Pharmaceuticals.