Sales of key oncology drug Keytruda jumped 58% to $2.63 billion, lifting the overall pharmaceutical sales up 13%.
International pharmaceutical sales represented 55% of total
sales in the quarter. Performance in international markets was led by China,
which had pharmaceutical sales of $745 million representing growth of 41%.
Earnings, excluding one-time items, grew 23% to $1.30 per share, 14 cents higher than the street view.
READ: Apple needs to clear many hurdles to push stock higher post Q3 earnings
Outlook
Merck raised its full-year 2019 revenue range to be between $45.2
billion and $46.2 billion. Meanwhile, it reduced its guidance for GAAP EPS
range to between $3.78 and $3.88, to take into account charges related to the
acquisition of Peloton.
Excluding one-time items, earnings for this period is expected between $4.84 and $4.94.
The stock has gained 27% in the trailing 52 weeks and 9% since the beginning of this year.