The company recorded strong sales of consumer products, HIV and arthritis treatments. Demand for its top five pharmaceutical markets grew by 6% overall. However, it also faced the impact from loss of market exclusivity for Temodar and Nasonex.
2Q Revenues: $10.9 billion -1%
2Q Earnings: $2 billion +120%
YTD Revenues: $21,198 billion -2%
YTD Earnings: $3,764 billion +48%
Cost cutting efforts resulted in extremely strong earnings gains this quarter and overall sales remained strong despite loss of patent exclusivity on key drugs. Analysts predict a relatively flat growth this year, expecting the pace to pick up in the future, Reuters reports. New drugs could drive that growth. Prominent in Merck's pipeline are the immuno-oncology drug, pembrolizumab, scheduled to launch next quarter to treat melanoma and possibly other cancers. Merck also plans to introduce an insomnia treatment, Suvorexant, by the end of this year or early next year if it is approved.