Pharmaceuticals company Merck & Co., Inc. (NYSE: MRK) has reported stronger-than-expected earnings and revenues for the first quarter of 2022. The positive outcome reflects significant clinical advancements in the company’s research pipeline and effective commercial execution across key growth drivers.
Worldwide sales rose 50% year-over-year to $15.9 billion in the first three months of fiscal 2022, which is well above the market’s projection.
First-quarter earnings, on an adjusted basis, rose sharply to $2.14 per share from $1.16 per share in the same quarter of 2021 and exceeded the consensus estimates. Unadjusted net income was $4.31 billion or $1.70 per share in the most recent quarter, compared to $2.75 billion or $1.08 per share in the corresponding period of the previous year.
Read management/analysts’ comments on Merck’s Q1 2022 earnings report
“Robust first-quarter performance was driven by significant clinical advancements in our research pipeline and effective commercial execution across a broad set of key growth drivers. We remain focused on driving our strategy, which is led by science, and are confident in the durability of our growth prospects, as we continue to provide value for patients, shareholders, and all stakeholders today and well into the future,” said Robert Davis, chief executive officer of Merck.