Merck on Thursday topped third-quarter estimates and hiked its adjusted profit outlook, as its immunotherapy Keytruda, including a newer injectable form of the drug, showed stronger-than-expected sales.
The pharmaceutical giant now expects adjusted earnings to be between $2.77 and $2.82 per share. That adjusted profit outlook is up from a previous range of $2.66 to $2.76 per share. The guidance now includes a one-time charge of $400 million, or 12 cents per share, related to its licensing agreement with the Chinese cancer drugmaker SciBrunch
Merck also narrowed the low end of its 2026 revenue guidance, now expecting sales between $66.8 billion and $67.3 billion. That compares to a previous outlook of $66.3 billion to $67.3 billion.
The company has been on a deal spree as it races to offset generic competition for Keytruda after key patents begin expiring in 2028.
Merck is also positioning the new form of the drug, Keytruda Qlex, as…
