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The historical results of the womens health, biosimilars and established brands businesses that were contributed to Organon in the spin-off are excluded from sales and expenses below and reflected as discontinued operations in the companys Consolidated Statements of Income provided below. Analysts had been expecting earnings of around $1.71 per share. Gross margin was 72.3% for the third quarter of 2020 compared to 67.8% for the third quarter of 2019. Other revenues in the third quarter of 2021 include $135 million "We continue to execute on our strategic priorities and remain confident we will achieve solid full-year revenue growth despite the impact of the ongoing COVID-19 pandemic. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Merck Reported Positive Phase 3 Results for Molnupiravir, an Investigational Oral Antiviral COVID-19 Treatment. Research and development expenses were $3.4 billion in the third quarter of 2020, an increase of 6% compared with the third quarter of 2019. The company assumes no duty to update the information to reflect subsequent developments. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Today, Merck continues to be at the forefront of research to prevent and treat diseases that threaten people and animals including cancer, infectious diseases such as HIV and Ebola, and emerging animal diseases as we aspire to be the premier research-intensive biopharmaceutical company in the world. The non-GAAP range excludes acquisition- and divestiture-related costs, costs related to restructuring programs, income and losses from investments in equity securities, and certain other items. Management uses these measures internally for planning and forecasting purposes and to measure the performance of the company along with other metrics. Find out more about how we use your information in our privacy policy and cookie policy. Non-GAAP EPS was $1.74 for the third quarter of 2020 compared with $1.51 for the third quarter of 2019. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Third-Quarter 2020 Worldwide Sales Were $12.6 Billion, an Increase of 1%; Excluding the Impact from Foreign Exchange, Sales Grew 2%, Animal Health Sales Grew 9% to $1.2 Billion; Excluding the Impact from Foreign Exchange, Sales Grew 12%, Third-Quarter 2020 GAAP EPS Was $1.16; Third-Quarter Non-GAAP EPS Was $1.74, Announced Additional Positive Phase 3 Results for Investigational Pneumococcal Conjugate Vaccine (V114) in Adults, Presented Phase 3 Data for Investigational Gefapixant in Development for Chronic Cough; Early Data for MK-4830 in Oncology and MK-8507 for HIV, Expanded Pipeline with Seagen Collaborations in Oncology, Company Advances Research Programs and Clinical Trials for COVID-19-Related Vaccine and Orally Available Antiviral Research Candidates, Company Narrows and Raises 2020 Full-Year Revenue Range to be Between $47.6 Billion and $48.6 Billion, Including a Negative Impact from Foreign Exchange of Approximately 1.5%, Company Narrows and Lowers 2020 Full-Year GAAP EPS Range to be Between $4.55 and $4.65; Narrows and Raises 2020 Full-Year Non-GAAP EPS Range to be Between $5.91 and $6.01, Including a Negative Impact from Foreign Exchange of Approximately 2.5%. Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced financial results for the third quarter of 2021. This news release of Merck & Co., Inc., Rahway, N.J., USA (the company) includes forward-looking statements within the meaning of the safe harbor provisions of the U.S. Merck & Co., Inc. (MRK Quick Quote MRK - Free Report) reported third-quarter 2022 adjusted earnings of $1.85 per share, beating the Zacks Consensus Estimate of $1.67 as well as our estimate of $1.65. investing.com - Reuters 3d. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. That compares with $4.5 billion, or $1.78 per share, a year earlier. Building on the companys experience with antivirals and vaccines, Merck advanced its multiple scientific programs in an effort to help combat SARS-CoV-2, specifically. Earnings rose 4%. Merck (NYSE: MRK), known as MSD outside the United States and Canada, will hold its third-quarter 2022 sales and earnings conference call with institutional investors and analysts at 8:00 a.m. The increase reflects lower acquisition- and divestiture-related costs and the favorable effect of product mix, partially offset by the unfavorable effects of pricing pressure, inventory write-offs, higher amortization of intangible assets related to collaborations and foreign exchange. The reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.67 by $0.18. Sales growth in companion animal was primarily driven by the BRAVECTO parasiticide line of products, as well as vaccines. Sales of $43 million resulted from the phased resupply initiated in the fourth quarter of 2021, which has been completed in 2022. The company said profit in the quarter was $4.7 billion, or $1.85 a share, excluding certain items. Merck: Great Medicine For The Portfolio (NYSE:MRK) The large drugmaker's. The company said profit in the quarter was $4.7 billion, or $1.85 a share, excluding certain items. The increase was driven primarily by growth in oncology and certain hospital acute care products, partially offset by the negative impact of the COVID-19 pandemic and the ongoing impacts of the loss of market exclusivity for several products. Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced financial results for the third quarter of 2022. Merck shares profits equally with its partner, Ridgeback, which is reflected in cost of sales. and RAHWAY, N.J., September 29, 2022 -- ( BUSINESS WIRE )--Merck (NYSE: MRK), known as MSD outside the United States and Canada, will hold its third-quarter 2022 sales and earnings conference. The company is narrowing its expected full year sales range of LAGEVRIO to be between $5.2 billion and $5.4 billion. Animal Health sales totaled $1.2 billion in the third quarter of 2020, an increase of 9% compared with the third quarter of 2019; excluding the unfavorable effect from foreign exchange, Animal Health sales grew 12%. The company announced on Oct. 11, 2021, the submission of an application for Emergency Use Authorization (EUA) to the U.S. Food and Drug Administration (FDA) based on these findings and plans to submit marketing applications to other regulatory bodies worldwide. Investments https://www.businesswire.com/news/home/20221027005289/en/, Investor: Merck and Seagen Inc. (formerly known as Seattle Genetics, Inc.), Companies to co-develop and co-commercialize Seagens ladiratuzumab vedotin, an investigational antibody-drug conjugate targeting LIV-1, globally; and. Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the recent global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the companys ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the companys patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. Heading into the third quarter, analysts had forecast that Bloom would lose $0.06 per share, adjusted for one-time items, on quarterly sales of $277.2 million. Third-quarter sales climbed 14% to $15.0 billion, ahead of a Refinitiv consensus estimate of $14.1 billion. Growth in oncology was largely driven by higher sales of KEYTRUDA, which rose 22% to $4.5 billion in the quarter. Merck (MRK) to Report Q3 Earnings: What's in the Cards? Access videos, logos, photos, and infographics. For a description of the non-GAAP adjustments, see Table 2a attached to this release. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. (908) 740-2107, Merck Logo Horizontal Teal Grey RGB (211 KB). We demonstrate our commitment to patients and population health by increasing access to health care through far-reaching policies, programs and partnerships. Peter Dannenbaum Financial information presented in this release reflects Mercks results on a continuing operations basis, which excludes Organon & Co., that was spun-off on June 2, 2021. https://www.businesswire.com/news/home/20220929005282/en/, Environmental, Social & Governance (ESG) Report. Net Income from Continuing Operations Attributable to Merck & Co., Inc. Income from Discontinued Operations, Net of Taxes and Amounts Attributable to Noncontrolling Interests. Our teams continued to excel as we focus on evolving our operations, while driving innovations in our labs that exemplify the best of Merck science, said Robert M. Davis, chief executive officer and president, Merck. Merck continued to advance the development programs for KEYTRUDA (pembrolizumab), the companys anti-PD-1 therapy; Lynparza (olaparib), a PARP inhibitor being co-developed and co-commercialized with AstraZeneca; and Lenvima (lenvatinib mesylate), an orally available tyrosine kinase inhibitor being co-developed and co-commercialized with Eisai Co., Ltd. (Eisai), in addition to other notable developments as follows: Third-Quarter Financial Impact of COVID-19. These statements are based upon the current beliefs and expectations of the companys management and are subject to significant risks and uncertainties. Demand for our products remains robust, and production, supply and distribution of our medicines, vaccines and animal health products are moving forward with minimal disruption, said Kenneth C. Frazier, chairman and chief executive officer, Merck. Merck is lowering its expected full-year 2022 GAAP EPS to be between $5.68 and $5.73. All dial-in participants can use the access code 9646315. GAAP (generally accepted accounting principles) earnings per share assuming dilution (EPS) was $1.16 for the third quarter of 2020. The decrease was primarily driven by lower upfront payments related to collaborations and license agreements, partially offset by higher oncology and COVID-19 clinical development spending, as well as increased investment in discovery research and early drug development. Excluding the favorable effect of foreign exchange, sales grew by 17%, reflecting strength in the companys oncology and vaccine businesses. We are committed to providing leading innovations for today and the future that save and improve lives around the world. View source version on businesswire.com: The decrease primarily reflects lower administrative and selling costs, including less travel and meeting expenses, due in part to the COVID-19 pandemic, partially offset by higher acquisition- and divestiture-related costs, primarily reflecting costs related to the companys planned spinoff of Organon. Institutional investors and analysts can participate in the call (833) 353-0277 or toll free (469) 886-1947 and using ID code number 4664137. This news release of Merck & Co., Inc., Kenilworth, N.J., USA (the company) includes forward-looking statements within the meaning of the safe harbor provisions of the U.S. Melissa Moody Worldwide Merck is raising and narrowing its non-GAAP EPS range and now expects full-year 2021 to be between $5.65 and $5.70, including a positive impact from foreign exchange of approximately 2%. Acquisition- and divestiture-related costs, Charge for the discontinuation of COVID-19 development programs, Charge for the acquisition of Pandion Therapeutics. Selling, general and administrative expenses were $2.3 billion in the third quarter of 2021, an increase of 13% compared to the third quarter of 2020. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. The company said profit in the quarter was $4.7 billion, or $1.85 a share,. Loss from In addition, senior managements annual compensation is derived in part using a non-GAAP pre-tax income metric. Merck Announces Third-Quarter 2022 Financial Results The tables below present selected expense information. At Merck, known as MSD outside of the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. Inspired by our purpose of saving and improving lives around the world, I am confident we are well-positioned to continue to deliver strong operational performance., Non-GAAP net income that excludes certain items1,2*, Non-GAAP EPS that excludes certain items2*. A reconciliation of anticipated 2021 GAAP EPS to non-GAAP EPS and the items excluded from non-GAAP EPS are provided in the table below. Non-GAAP expense, EPS and related information. Merck & Co., Inc.'s (NYSE:MRK) P/E Still Appears To Be Reasonable Combined sales of pediatric vaccines VARIVAX (Varicella Virus Vaccine Live), a vaccine to help prevent chickenpox; PROQUAD (Measles, Mumps, Rubella and Varicella Virus Vaccine Live), a combination vaccine to help protect against measles, mumps, rubella and varicella; and M-M-R II (Measles, Mumps and Rubella Virus Vaccine Live), a vaccine to help prevent measles, mumps and rubella, declined in the third quarter, primarily due to lower demand in the U.S. related to the COVID-19 pandemic. Merck Stock Jumps As Keytruda Sales Power Q3 Earnings Beat, Profit in Equity Investors, journalists and the general public may access a live audio webcast of the call today at 8:00 a.m. EDT on Mercks website at https://www.merck.com/investor-relations/events-and-presentations/. Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the companys ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the companys patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. including revenue-hedging activities. MERCK & CO., INC. Divestiture- Decrease (Increase) in Net Income Due to Excluded Items: Acquisition- and divestiture-related costs3, Loss (income) from investments in equity securities, Net decrease (increase) in income before taxes. 3Q22 net income of $61.8 million, adjusted EBITDA (1) of $100.1 million. The increase primarily reflects $887 million of intangible asset impairment charges related to the ArQule, Inc. acquisition, charges related to collaboration and licensing agreements with Moderna, Orna and Orion and higher clinical development spending. View source version on businesswire.com: Merck third-quarter earnings climb, lifts full-year outlook Selling, general and administrative (SG&A) expenses were $2.5 billion in the third quarter of 2022, an increase of 8% compared to the third quarter of 2021. Merck Stock Hits A Fresh High After Third-Quarter Beat, But Is It A Buy Third-Quarter 2022 Worldwide Sales Were $15.0 Billion, an Increase of 14% From Third-Quarter 2021; LAGEVRIO Sales Were $436 Million; Growth Excluding LAGEVRIO Was 10%; Growth Excluding LAGEVRIO and the Impact From Foreign Exchange Was 14%; Sales Growth Favorably Impacted by COVID-19 Recovery Merck continued to advance development programs across its oncology portfolio, anticipating more than 90 potential new indications by 2028, including notable progress for KEYTRUDA, the companys anti-PD-1 therapy; Lynparza, an oral poly (ADP-ribose) polymerase (PARP) inhibitor being co-developed and co-commercialized with AstraZeneca; Lenvima, an orally available tyrosine kinase inhibitor (TKI) being co-developed and co-commercialized with Eisai Co., Ltd. (Eisai); and WELIREG (belzutifan), an oral hypoxia-inducible factor-2 alpha inhibitor (HIF-2). Click Manage settings for more information and to manage your choices. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the companys 2021 Annual Report on Form 10-K and the companys other filings with the Securities and Exchange Commission (SEC) available at the SECs Internet site (www.sec.gov). A reconciliation of GAAP to non-GAAP net income and EPS is provided in the table that follows. Patrick Ryan Net income attributable to Merck & Co., Inc. Merck is providing certain 2020 and 2019 non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. We are called MSD everywhere, except in the United States and Canada where we are known as Merck & Co Inc, Rahway, NJ USA. Non-GAAP results for 2021 have been recast to conform to presentation changes implemented in 2022. Non-GAAP R&D expenses were $2.3 billion in the third quarter of 2020, a 3% increase compared to the third quarter of 2019. If authorized or approved, Merck anticipates that molnupiravir can become an important treatment as part of the global effort to fight the COVID-19 pandemic. Merck is raising and narrowing its full-year 2021 GAAP EPS range to be between $4.71 and $4.76. Non-GAAP Expense, EPS and Related Information. Merck expects its full-year non-GAAP effective income tax rate to be approximately 14%. 2020 includes $832 million related to the Seagen collaborations. 3 Includes expenses for the amortization of intangible assets and purchase accounting adjustments to inventories recognized as a result of acquisitions, intangible asset impairment charges and expense or income related to changes in the estimated fair value measurement of liabilities for contingent consideration. Costs In addition, the amount for 2020 includes a tax cost of $67 million, representing an adjustment to the tax benefits recorded in conjunction with the 2015 acquisition of Cubist Pharmaceuticals, Inc. Includes the estimated tax impact on the reconciling items, as well as a $207 million net tax benefit related to the settlement of certain federal income tax matters. Generally accepted accounting principles (GAAP) earnings per share (EPS) assuming dilution was $1.28 for the third quarter of 2022. In addition, sales of JANUVIA (sitagliptin) and JANUMET (sitagliptin and metformin HCI) increased slightly in the quarter reflecting strong demand from certain international markets, partially offset by continued pricing pressure in the U.S. Merck third-quarter earnings climb, lifts full-year outlook At Merck, known as MSD outside of the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. Document Non-GAAP EPS that excludes items listed below2, Non-GAAP net income that excludes items listed below1,2. Merck is providing certain non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Non-GAAP R&D expenses were $2.5 billion in the third quarter of 2021, an 11% increase compared to the third quarter of 2020. September 29, 2022 6:45 am ET RAHWAY, N.J.-- (BUSINESS WIRE)-- Merck (NYSE: MRK), known as MSD outside the United States and Canada, will hold its third-quarter 2022 sales and earnings conference call with institutional investors and analysts at 8:00 a.m. Narrows 2022 guidance and anticipates strong revenue and EBITDA (1) growth in 2023. Other (income) expense, net, in the third quarter of 2022 also reflects lower pension costs compared to the third quarter of 2021. The following table reflects sales of the companys top pharmaceutical products, as well as sales of Animal Health products. GAAP EPS was $1.80 for the third quarter of 2021 compared with $0.92 for the third quarter of 2020. Worldwide The company said profit in the quarter was $4.7 billion, or $1.85 a share,. Merck to Hold Third-Quarter 2022 Sales and Earnings Conference Call Our third quarter results demonstrate exceptional revenue and underlying earnings growth and sustained performance across our key growth drivers. On June 2, 2021, Merck completed the spinoff of products from its womens health, biosimilars and established brands businesses into a new, independent, publicly traded company named Organon & Co. (Organon) through a distribution of Organons publicly traded stock to company shareholders. Merck announced clinical trial results for KEYTRUDA (pembrolizumab), the companys anti-PD-1 therapy, and Lynparza (olaparib), an oral poly (ADP-ribose) PARP inhibitor being co-developed and co-commercialized with AstraZeneca, at the European Society for Medical Oncology Congress 2022, including: In collaboration with Seagen and Astellas, the first presentation of.
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