Merck

3Q Revenues: $17.3 billion (+4%)

3Q Earnings: $5.8 billion (+83%)

YTD Revenues: $48.6 billion (flat)

YTD Earnings: $15.3 (+14%)

Comments: KEYTRUDA sales were up 10% to $8.1 billion driven by continued global demand and uptake in earlier-stage indications. GARDASIL/GARDASIL 9 sales declined 24% to $1.7 billion primarily due to lower demand in China, lower demand in Japan, partially offset by higher sales in the U.S. due to higher pricing.

PROQUAD, M-M-R II and VARIVAX sales were down 3% to $684 million, primarily due to lower demand, partially offset by higher pricing in the U.S. JANUVIA/JANUMET sales were up 29% to $624 million driven by higher pricing in the U.S., partially offset by lower demand in China.

BRIDION sales were $439 million, up 5% primarily due to higher demand in the U.S. WINREVAIR sales were up 141% to $360 million, reflecting continued uptake in the U.S. CAPVAXIVE sales were $244 million with continued uptake since third-quarter 2024 launch in the U.S.

According to Merck’s 3Q news release, “Earnings in the quarter excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends.”