Merck Reports Q1 2022 Results: Keytruda Sales Hit $4.8B, Fueling Potential 'Blockbuster Drug' Status

Compiled by | Li Tom

On April 28, MSD announced its financial results for the first quarter of 2022. The company's global sales reached $15.9 billion, a year-on-year increase of 50%; GAAP net profit was $4.31 billion, a year-on-year increase of 57%; GAAP earnings per share were $1.7, compared to $1.08 in the same period last year.

Molnupiravir, MSD's oral COVID-19 drug, becomes a key driver of revenue growth, with sales reaching $3.2 billion in the first quarter of 2022. Excluding this drug, the company’s global sales growth rate for the first quarter was 19%. Currently, Molnupiravir has received usage authorizations in multiple countries and regions worldwide, including the UK (conditional marketing authorization), the US (emergency use authorization), and Japan (special emergency approval). During the first quarter, a total of 6.4 million courses of Molnupiravir were delivered to more than 30 countries and regions.

Besides, the sales performance of MSD's oncology portfolio continues to grow. The sales of its star product Keytruda increased by 27% in the first quarter, reaching 4.8 billion US dollars. In the US market, Keytruda has shown strong growth momentum in several key oncology markets, including triple-negative breast cancer, renal cell carcinoma, and melanoma.

Thanks to its strong performance in the metastatic breast cancer market, MSD's another key oncology asset, Lynparza, also saw a 20% increase in sales. In addition to the steady growth of existing therapies, the U.S. FDA also approved indications for multiple MSD oncology therapies in the first quarter of this year.

In terms of vaccines, thanks to the company's strong marketing efforts in the Chinese market, MSD's HPV vaccine Gardasil achieved sales of $1.5 billion, a year-on-year increase of 59%, far exceeding Wall Street's previous expectation of $200 million.

Moreover, MSD has made significant progress in its cardiovascular product line. The company anticipates that eight therapies could receive potential regulatory approval by 2030. Recent updates to its vaccine pipeline reveal that V116, its investigational 21-valent pneumococcal conjugate vaccine, has been granted Breakthrough Therapy Designation by the U.S. FDA and is expected to enter Phase III trials later this year.

For the 2022 performance forecast, MSD has raised its full-year global sales to $56.9 billion-$58.1 billion, with an expected growth of 17%-19%. The full-year GAAP earnings per share have been increased to $5.90-$6.02, and the full-year non-GAAP earnings per share have been raised to $7.24-$7.36.

Reference Source:

1、Merck Makes Waves in Q1 with COVID-19 Treatment, Cancer Portfolio

2、Merck Announces First-Quarter 2022 Financial Results