Source: MSD Official Website
On Thursday, MSD announced that its revenue for the third quarter exceeded166billion dollars, higher than the market consensus of164.6Billion USD, with an increase of1%. Non GAAP Earnings Per Share (EPS) For1.57Dollars, more than expected1.48Higher in USD6%。
Revenue in the third quarter increased year-over-year7%, surpassing analysts' expectations, thanks to its blockbuster cancer drug KeytrudaAnd the launch of strong products, despite strong earnings growth in the third quarter, however, itsHPVVaccineGardasilAnd2Type 2 Diabetes MedicationJanuviaThe revenue performance was disappointing, and the company immediately lowered2024Annual Sales and Adjusted Profit Forecast.
Driven by the increase in early cancer treatments (including triple-negative breast cancer, renal cell carcinoma, and non-small cell lung cancer) as well as the continued strong demand for other metastatic indications,KeytrudaRevenue Nearly75Billion USD, Growth21%, becoming a strong driving force for MSD's revenue in the third quarter. Analysts had originally expectedKeytrudaIn the third quarter, sales were approximately73Billion US dollars.Another strong product of MSD: pulmonary arterial hypertension drugWinrevair, Income1.49billion dollars, exceeding analysts' estimates of1.29Billion dollars. Its vigorously promoted pneumococcal vaccineCapvaxive, has been2024Year 6Month ObtainedFDAApproval, also received last weekCDCRecommendation50For use by adults aged and above.In comparison, MSD's nine-valentHPVVaccine GardasilAnd2Type 2 Diabetes MedicationsJanuviaThe sales performance was poor.GardasilRevenue decreased year-over-year10%, despite the third-quarter revenue being higher than23billion dollars, but lower than expected25.7hundred million US dollars. Meanwhile,JanuviaPlummeting sales49%, Sales were2.78Billion USD, lower than expected4.21Billion US dollars.For the remainder of the year, MSD has lowered its full-year earnings per share guidance to 7.72 To 7.77 USD (previously announced range was7.94 To 8.04 USD), to reflect and Harpoon Therapeutics、EyeBio AndCuron BiopharmaceuticalOne-time fees related to the transaction. Sales forecasts were also revised down to636Billion USD to641Billion USD (The previously announced sales forecast was 634Billion USD to 644 Billion US dollars).
Guggenheim PartnersAnalystVamil DivanIn the report to investors, MSD's overall performance in the third quarter“Steady”, but with the increasing market pressure, MSD needs to provide a clearer explanation.WinrevairAndCapvaxiveExpected revenue in the next few quarters, includingKeytruda And GardasilProspect Analysis.
BMOCapital Market Analyst Evan SeigermanIt is believed that the commercial prospect of MSD is likeKeytruda Continuing to maintain a dominant position as strong as before, despiteKeytrudaAbout to lose market exclusivity (LOE), but MSD has found the right positioning for sustained growth in the coming years.SeigermanWrote: MSD's continuously improving cardiovascular product portfolio, throughPrometheusTransaction in I&I(Immunology and Inflammation) as well as withDaiichiThe cooperation may be likeKeytruda Market Exclusivity (LOE）Likewise, it will achieve growth in the next few years.At the same time,SeigermanThe comment says,GardasilSales were below expectations (23.1Billion US dollars vs 25.8Billion USD), indicating2024The issues from the second quarter of the year are still ongoing., and may continue to be affected by issues in China,GardasilThe sales volume is still worrying.
References:
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