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By Jeffrey T. Lewis
Merck’s profit increased in the third quarter after sales of cancer treatments and vaccines boosted sales in the period.
The Rahway, N.J.-based pharmaceuticals maker reported net income of $4.75 billion, compared with $3.25 billion a year earlier. Earnings per share reached $1.86 from $1.28, and adjusted earnings per share rose to $2.13 from $1.85 in the prior-year quarter.
The figures outperformed market expectations. The consensus compiled by FactSet was for revenue of $15.3 billion and for net income of $4.28 billion.
Revenue increased to $16 billion from $15 billion in the third quarter of 2022. Sales of Merck’s Keytruda breast cancer treatment jumped 17% to $6.3 billion, while sales of the company’s Gardasil vaccine against the human papillomavirus rose 13% to $2.6 billion.
Write to Jeffrey T. Lewis at [email protected]
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