Merck’s Q1 revenue shoots up by 50 percent to $15.9 billion

The American drugmaker beats earnings estimates on the back of Keytruda, Gardasil and molnupiravir.

Last Thursday, the American pharmaceutical company reported its first quarter results for 2022 which beat estimates for both sales and profit. In addition, the company also raised its sales forecast for the full-year on the back of string demand for its top-selling cancer drug Keytruda, its Gardasil vaccine and COVID-19 antiviral pill molnupiravir. During the reporting period, the drugmaker’s revenue rose by 50% to $15.9 billion compared to the same period from the prior year, with most of the growth being fuelled by sales of molnupiravir, which was approved in November. The big pharma now expects sales for molnupiravir, for which it has shipped 6.4 million, to reach between $5 billion to $5.5 billion, a cut to the upper end of its previous range of $5 billion to $6 billion.

Sales for Keytruda rose 23% to $4.8 billion, which was about $300 million more than what analysts had forecasted. “We successfully delivered across our key strategic priorities and achieved strong top and bottom-line growth,” said chief executive officer and president, Robert M. Davis. “Our robust first quarter performance was driven by significant clinical advancements in our research pipeline and our ability to effectively execute commercially 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 our stakeholders today and well into the future.” The company expects its full-year 2022 worldwide sales to range between $56.9 billion and $58.1 billion.