Merck Crushes Expectations on Keytruda Strength

Merck reported its second-quarter earnings on Tuesday, beating expectations with revenue of $16.61 billion, up 5% from a year ago.

The U.S. drugmaker's top-selling cancer treatment Keytruda drove the growth, with sales rising 5% to $8.37 billion in the quarter.

The company also announced it would raise its full-year revenue forecast to between $66.3 and $67.3 billion, above analysts' estimates of around $66.8 billion.