Merck reported stronger-than-expected third-quarter results, driven by robust sales of its immunotherapy drug Keytruda, particularly its newer injectable form called Qlex. The company surpassed analyst estimates and raised its adjusted profit outlook for the year. Qlex generated $830 million in sales during the quarter, marking the highest revenue since its launch in 2025.
Merck now anticipates adjusted earnings to range between $2.77 and $2.82 per share, up from the previous forecast of $2.66 to $2.76 per share. The revised guidance includes a one-time charge of $400 million, or 12 cents per share, related to a licensing agreement with the Chinese cancer drugmaker SciBrunch.
The strong performance of Keytruda, especially the Qlex formulation, has bolstered Merck's financial outlook. The company's ability to exceed expectations in sales and profitability highlights the growing demand for advanced cancer treatments.