Merck (MRK) posted fourth-quarter earnings that were mainly in line with estimates but issued a careful outlook for the yr and sees worldwide profits mainly flat when compared to 2016.
Non-GAAP earnings for the three months finished in December were 89 cents a share, assembly analysts’ forecasts and falling 4.three% from the exact same interval very last yr. Group profits, Merck claimed, was $10.one billion, modestly shy of the $10.22 billion estimate.
Product sales of the company’s critical Keytruda drug, nonetheless, defeat forecasts, increasing one hundred twenty five% from the exact same interval very last yr to $483 million, very well ahead of the $470 million figure forecasts by analysts.
“The effectiveness of Merck’s wide and well balanced portfolio allows us to keep on being fully commited to biomedical innovation that will save and improves life and provides very long-time period worth to shareholders,” claimed CEO Ken Frazier. “The momentum behind our pipeline and critical merchandise launches, which include the continued development and expansion of Keytruda into new indications and marketplaces all around the earth, further reinforces our company’s strategic route.”
Merck claimed it expects to see full-yr 2017 EPS of involving $three.72 and $three.87 on profits of involving $38.8 billion and $40.one billion, “which include an somewhere around 2% adverse impact from foreign trade.”
Full-yr 2016 profits were $39.8 billion, the firm claimed.
Merck rival Bristol-Myers Squibb (BMY) claimed on Jan. 19 it would not look for accelerated approval for a mix of its Opdivo and Yervoy prescription drugs as a remedy for newly identified lung cancer.
On Jan. 10, Merck announced that the U.S. Food items and Drug Administration has accepted and is reviewing an software for Keytruda furthermore chemotherapy for first-line remedy of people that have metastatic or superior non-squamous NSCLC, regardless of the levels of the PD-L1 protein, and with no EGFR or ALK genomic tumor aberrations. A selection is expected on or before May 10.