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Merck misses profit estimates, forecasts larger hit to 2021 sales from Covid-19 pandemic | Malay Mail

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BERLIN, April 29 — Merck & Co Inc today missed estimates for first-quarter profit and forecast a bigger hit to 2021 sales than its previous estimate as the pandemic hurt demand for its drugs that need to be administered in a clinic. Shares fell nearly 3 per cent to US$74.95 (RM307) before the...

Thursday, 29 Apr 2021 07:38 PM MYT

Shares fell nearly 3 per cent to US$74.95 before the opening bell as the company also disclosed a roughly US$600 million hit to first-quarter sales from the health crisis. A large blow was seen on sales of non-Covid-19 vaccines, including Gardasil, a vaccine to prevent cancers caused by the human papillomavirus virus, in the United States and Europe. Gardasil sales tumbled 16.4 per cent to US$917 million.

Sales of blockbuster cancer drug Keytruda rose 18.7 per cent to US$3.90 billion, but missed Wall Street estimates of US$3.98 billion.

 

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