Merck Keytruda Strength Drives Better-Than-Expected Q2 Results
Merck, a US-based pharmaceutical company, reported better-than-expected second-quarter results on Tuesday, thanks to the strength of its top-selling cancer treatment Keytruda. The company's quarterly revenue reached $16.61 billion, a 5% increase from last year and above analysts' average estimate of $16.36 billion.
Merck also raised its full-year revenue forecast to $66.3 billion to $67.3 billion, slightly above the consensus forecast of about $66.8 billion. The company's adjusted earnings are expected to be between $2.66 and $2.76 per share in 2026.
The success of Keytruda, which is the world's top-selling prescription medicine, was driven by stronger-than-expected uptake of its newer subcutaneous formulation, Keytruda QLEX. Chief Financial Officer Caroline Litchfield said that the company is on track to achieve 30% to 40% adoption of QLEX in the US by the end of 2027.