Merck

4Q Revenues: $16.4 billion +5%

4Q Earnings: $2.96 billion -21%

FY Revenues: $65.0 billion +1%

FY Earnings: $18.3 billion +7%

Comments: Pharmaceutical sales were $14.8 billion, up 6%. The increase was primarily driven by growth in oncology as well as cardiometabolic and respiratory, partially offset by a decline in vaccines.

KEYTRUDA sales were up 7% in the quarter to $8.3 billion. GARDASIL/GARDASIL 9 sales were down 34%, primarily due to lower demand in China. PROQUAD, M-M-R II and VARIVAX sales were $619 million, up 4%. JANUVIA/JANUMET sales were up 3% to $501 million. BRIDION sales were $499 million, up 11%. WINREVAIR sales were up 133% to $467 million Growth primarily reflects continued uptake in the U.S. and early launch uptake in certain international markets. Lynparza sales were up 7% to $389 million.

Earnings in the quarter include charges related to an agreement with Dr. Falk Pharma GmbH under which the Merck secured global rights to MK-8690, and licensing agreements with LaNova Medicines Ltd. (acquired by Sino Pharmaceutical Limited) and Hansoh Pharma.