Merck Beats Q3 Estimates, But Lowers Annual Forecast As Gardasil Vaccine Hit By Low China Demand
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On Thursday, Merck & Co Inc (NYSE:MRK) reported third-quarter sales of $16.66 billion, up 4% year over year and beating the consensus estimate of $16.47 billion.
Excluding the impact of foreign exchange, sales increased 7%.
Merck reported adjusted EPS of $1.57, down from $2.13 a year ago, beating the consensus of $1.51.
The pharmaceutical unit booked $14.94 billion in revenue, up 5% year over year.
The increase was driven by growth in oncology and cardiovascular, partially offset by declines in diabetes, vaccines, and virology.
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