FILE- This May 1, 2018, file photo shows Merck corporate headquarters in Kenilworth, N.J. Merck & Co. reports financial earns Tuesday, Oct. 29, 2019. (AP Photo/Seth Wenig, File)

Sales of Merck's cancer treatment Keytruda soar in 3Q

October 29, 2019 - 7:25 am

KENILWORTH, N.J. (AP) — Merck is reporting a very strong third quarter with sales of one of its key drugs soaring 62%.

The pharmaceutical company on Tuesday posted earnings of $1.9 billion, or 74 cents per share. Removing one-time costs, earnings were $1.51 per share, easily topping Wall Street projections of $1.25, according to a survey by Zacks Investment Research.

Revenue jumped 15% to of $12.4 billion.

Sales of Merck's cancer immunotherapy drug Keytruda soared to $3.1 billion in the quarter.

Merck expects full-year earnings in the range of $5.12 to $5.17 per share, with revenue in the range of $46.5 billion to $47 billion.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRK at https://www.zacks.com/ap/MRK

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