Merck Q3 earnings top Wall Street's expectations For more than 130 years, we have brought hope to humanity through the development of important medicines and vaccines. Third-quarter pharmaceutical sales increased by $225 million, or 2%, to $11.3 billion. Related The non-GAAP range excludes acquisition- and divestiture-related costs, costs related to restructuring programs and certain other items. 3 Includes expenses for the amortization of intangible assets and purchase accounting adjustments to inventories recognized as a result of acquisitions, intangible asset impairment charges and expense or income related to changes in the estimated fair value measurement of liabilities for contingent consideration. Investments No Duty to Update KENILWORTH, N.J.--(BUSINESS WIRE)-- The company said profit in the quarter was $4.7 billion, or $1.85 a share, excluding certain items. Merck Announces Third-Quarter 2022 Financial Results Revenue: Total revenue for the third quarter of 2022 was $3.4 billion compared to $5.0 billion in the same period in 2021, mainly due to a decline in sales of the Company's COVID-19 vaccines. Forward-Looking Statement of Merck & Co., Inc., Rahway, N.J., USA. Risks and uncertainties include but are not limited to, general industry conditions and competition; uncertainties as to the timing of the offer and subsequent merger with Acceleron; uncertainties as to how many of Accelerons stockholders will tender their shares in the offer; the risk that competing offers or acquisition proposals will be made; the possibility that various conditions to the consummation of the merger and the offer contemplated thereby may not be satisfied or waived; the effects of disruption from the transactions contemplated by the merger agreement and the impact of the announcement and pendency of the transactions on Accelerons business; the risk that stockholder litigation in connection with the offer or the merger may result in significant costs of defense, indemnification and liability; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the companys ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the companys patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the recent global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the companys ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the companys patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. Michael DeCarbo Patrick Ryan Third-Quarter 2021 Worldwide Sales Were $13.2 Billion, 20% Above Third-Quarter 2020; Excluding the Impact from Foreign Exchange, Sales Grew 19% Reflecting Strong Demand for the Company's Robust Portfolio: KEYTRUDA Sales Grew 22% to $4.5 Billion; Excluding the Impact from Foreign Exchange, Sales Grew 21% Consequently, the company will not update the information contained in the website and investors should not rely upon the information as current or accurate after the presentation date. During the call, company executives will provide an overview of Merck's performance for the quarter and outlook. Merck to Hold Third-Quarter 2022 Sales and Earnings Conference Call We recently announced our proposed acquisition of Acceleron, which will strengthen our cardiovascular portfolio with complementary, cutting-edge science and an exciting late-stage candidate. Analysts had been expecting earnings of around $1.71 per share. Merck is providing certain non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Institutional investors and analysts can participate in the call by dialing (833) 353-0277 or (469) 886-1947 and using ID code number 6768456. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the companys 2021 Annual Report on Form 10-K and the companys other filings with the Securities and Exchange Commission (SEC) available at the SECs Internet site (www.sec.gov). Third-quarter sales climbed 14% to $15.0 billion, ahead of a Refinitiv consensus estimate of $14.1 billion. In addition, access to health care providers remains reduced, although improved from the second quarter. These statements are based upon the current beliefs and expectations of the companys management and are subject to significant risks and uncertainties. These statements are based upon the current beliefs and expectations of the companys management and are subject to significant risks and uncertainties. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. These statements are based upon the current beliefs and expectations of the companys management and are subject to significant risks and uncertainties. Consequently, the company will not update the information contained in the website and investors should not rely upon the information as current or accurate after the presentation date. View the full release here: https://www.businesswire.com/news/home/20221027005289/en/, We continue to execute on our strategy, invest in leading-edge science and drive innovation as our colleagues deliver meaningful value for patients which in turn provides value for our shareholders, said Robert M. Davis, chief executive officer and president, Merck. The information contained in this website was current as of the date presented. including revenue-hedging activities. Non-GAAP results for 2021 have been recast to conform to presentation changes implemented in 2022. Management believes that providing this information enhances investors understanding of the companys results as it permits investors to understand how management assesses performance. Only the line items that are affected by non-GAAP adjustments are shown. Merck provided additional data presentations and updates including: Merck anticipates the initiation of a phased resupply of ZERBAXA (ceftolozane and tazobactam) for injection beginning with the U.S. in the fourth quarter of 2021 following a voluntary recall in 2020. We are committed to providing leading innovations for today and the future that save and improve lives around the world. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Other (income) expense, net, was $312 million of income in the third quarter of 2020 compared to $35 million of expense in the third quarter of 2019, primarily due to higher income from investments in equity securities, net, which was $360 million in 2020 compared with $16 million in 2019, largely from the recognition of unrealized gains on securities. Non-GAAP Expense, EPS and Related Information. Selling, general and administrative (SG&A) expenses were $2.5 billion in the third quarter of 2022, an increase of 8% compared to the third quarter of 2021. Private Securities Litigation Reform Act of 1995. That topped Merck stock analysts' call for $1.72, FactSet shows. Third-Quarter Expense, EPS and Related Information. The tables below present selected expense information. This news release of Merck & Co., Inc., Rahway, N.J., USA (the company) includes forward-looking statements within the meaning of the safe harbor provisions of the U.S. Demand for our products remains robust, and production, supply and distribution of our medicines, vaccines and animal health products are moving forward with minimal disruption, said Kenneth C. Frazier, chairman and chief executive officer, Merck. Merck's Third-Quarter Earnings and Sales Top Forecasts The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Historically, the company excluded these charges to the extent they were considered by the company to be significant to the results of a particular period. Merck announced clinical trial results for KEYTRUDA (pembrolizumab), the companys anti-PD-1 therapy, and Lynparza (olaparib), an oral poly (ADP-ribose) PARP inhibitor being co-developed and co-commercialized with AstraZeneca, at the European Society for Medical Oncology Congress 2022, including: In collaboration with Seagen and Astellas, the first presentation of. Results Demonstrate Strong Momentum Across Business. Davis said the company has no plans to do so. Other revenues in the third quarter of 2021 include $135 million Higher than 2019 by a low-single-digit rate, Lower than 2019 by a low-single-digit rate. The non-GAAP effective income tax rate was 14.8% for the third quarter of 2020 compared to 15.7% for the third quarter of 2019, reflecting the favorable impact of earnings mix. Management uses these measures internally for planning and forecasting purposes and to measure the performance of the company along with other metrics. Non-GAAP selling, general and administrative expenses were $2.3 billion in the third quarter of 2021, an increase of 12% compared to the third quarter of 2020. Worldwide Only the line items that are affected by non-GAAP adjustments are shown. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the companys Annual Report on Form 10-K for the year ended December 31, 2021 and the companys other filings with the Securities and Exchange Commission (SEC) available at the SECs Internet site (www.sec.gov). The increases were primarily driven by higher sales of our medicines and the related gross profit share amounts owed to collaboration partners, which . Performance in livestock products reflects higher demand globally for ruminant, poultry and swine products. Third-quarter sales climbed 14% to $15.0 billion, ahead of a Refinitiv consensus estimate of $14.1 billion. The information contained in this website was current as of the date presented. Members of the media are invited to monitor the call by dialing (833) 353-0277 or (469) 886-1947 and using ID code number 6768456. The increase primarily reflects higher administrative costs, increased promotional expenses in support of the companys growth pillars, higher acquisition- and divestiture-related costs, as well as the unfavorable effects of foreign exchange. Merck's Q3 2022 earnings report October 27, 2022 Share this article Merck's ( NYSE: MRK) Q3 2022 results reflect sustained strong business momentum across key growth drivers as well as investment and progress in the pipeline. Also includes integration, transaction and certain other costs related to business acquisitions and divestitures. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the companys 2021 Annual Report on Form 10-K and the companys other filings with the Securities and Exchange Commission (SEC) available at the SECs Internet site (www.sec.gov). As Organon results are reflected within discontinued operations, they are excluded from the financial information provided below. Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the recent global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the companys ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the companys patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. Management believes that providing this information enhances investors understanding of the companys results because management uses non-GAAP results to assess performance. In addition, BRIDION (sugammadex) injection 100 mg/mL saw strong growth in the quarter. Merck and Seagen Inc. (formerly known as Seattle Genetics, Inc.), Companies to co-develop and co-commercialize Seagens ladiratuzumab vedotin, an investigational antibody-drug conjugate targeting LIV-1, globally; and. Consequently, the company will not update the information contained in the website and investors should not rely upon the information as current or accurate after the presentation date. At Merck, known as MSD outside of the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. Merck third-quarter earnings climb, lifts full-year outlook | Reuters The historical results of the womens health, biosimilars and established brands businesses that were contributed to Organon in the spin-off are excluded from sales and expenses below and reflected as discontinued operations in the companys Consolidated Statements of Income provided below. Non-GAAP EPS of $1.74 for the third quarter of 2020 excludes acquisition- and divestiture-related costs, restructuring costs, pretax charges of $1.1 billion related to certain license and collaboration agreements, and certain other items. 2020 includes $832 million related to the Seagen collaborations; 2019 represents a charge for the acquisition of Peloton. ET on Thursday, October 27. Merck and Ridgeback Biotherapeutics announced positive results from the interim analysis of the Phase 3 MOVe-OUT trial of investigational oral antiviral therapeutic molnupiravir (MK-4482/EIDD-2801) in at-risk, non-hospitalized adult patients with mild-to-moderate COVID-19. This information should be considered in addition to, but not as a substitute for or superior to, information prepared in accordance with GAAP. September 29, 2022 06:45 AM Eastern Daylight Time RAHWAY, N.J.-- ( BUSINESS WIRE )--Merck (NYSE: MRK), known as MSD outside the United States and Canada, will hold its third-quarter 2022. At mid-October 2021 exchange ranges, Merck now expects sales growth of 14% to 15% in 2021, with full-year 2021 revenue estimated to be between $47.4 billion and $47.9 billion, including a positive impact from foreign exchange of approximately 1.5%. Future that save and improve lives around the world financial information provided below subject to significant risks and uncertainties or. 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