Merck

4Q Revenues: $15.6 billion (+7%)

4Q Earnings: $3.7 billion (loss of $1.2 billion 4Q23)

FY Revenues: $64.2 billion (+7%)

FY Earnings: $17.1 billion (earnings were $365 million FY23)

Comments: Keytruda sales were $7.8 billion in the quarter, up 19%, driven by continued global demand from metastatic indications, including increased uptake in bladder and endometrial cancers, as well as increased global uptake in earlier-stage indications, including triple-negative breast cancer and non-small cell lung cancer.

Gardasil sales were down 17% to $1.6 billion, primarily due to lower demand in China. Proquad, MMR II, and Varivax sales were up 9% to $594 million, primarily due to higher pricing in the U.S. Vaxneuvance sales were down 9% to $161 million primarily driven by lower demand in the U.S. due to competition.

Januvia sales were $487 million in the quarter, down 38% primarily due to lower pricing in the U.S., as well as ongoing generic competition in many international markets. Bridion sales were up 5% to $449 million primarily due to higher demand in the U.S., partially offset by generic competition in certain international markets. Lynparza sales were up 16% to $365 million primarily due to higher global demand.

4Q23 results included charges related to the Daiichi Sankyo collaboration.