Pharmaceutical company Merck & Co. Inc. (NYSE: MRK) reported a sharp increase in adjusted earnings for the fourth quarter of 2024, aided by a 7% increase in sales.
Fourth-quarter worldwide sales increased 7% year-over-year to $15.6 billion, with Pharmaceutical and Animal Health revenues growing 7% and 9% respectively.
The company reported a net profit of $3.74 billion or $1.48 per share for the December quarter, compared to a loss of $1.23 billion or $0.48 per share in the prior-year period. On an adjusted basis, earnings climbed to $1.72 per share in Q4 from $0.03 per share in the fourth quarter of 2023.
“Our business remains well-positioned thanks to the dedication of our talented global team, and I am more confident than ever in our long-term growth potential,” said Merck’s CEO Robert Davis.