Stocks
Pfizer and Merck Earnings Reveal Patent Cliff Fears
Pfizer and Merck & Co released their second-quarter earnings on the same day. The pharma sector faces a valuation test as patent cliffs loom and growth engines shift.
Pfizer is expected to continue its post-pandemic profit decline, with adjusted EPS projected at $0.68 (a 13% year-over-year decline) and revenue of approximately $14.4 billion (down about 1.6% YoY).
Merck & Co, on the other hand, stands at a pivotal inflection point driven by strategic positioning ahead of Keytruda's patent cliff and strong uptake of new products.