Thursday, May 5, 2016

Merck's Q1 2016 Generally In Line; With Currencies Improvement Seen In April 2016; Sales A Lil' Light

I'll have more after the conference call, but Zepatier® sales were slightly behind analysts' expectations (in testimony to the effects of aggressive price cutting, as I predicted), as were global sales revenues overall.

And while Keytruda® did well in the quarter, BMS's Opdivo® is clearly pulling away (also as I long predicted). Both are making money hand over fist though, to be fair. Here's the improved April 2016 currencies translation prediction (which proportionately mirrors the Pfizer experience/effect I mentioned Tuesday -- improving from a projected 7 per cent drag on sales, to a far more modest 2 per cent drag, for the full year):

. . . .At mid-April exchange rates, Merck now anticipates full-year 2016 revenues to be between $39.0 billion and $40.2 billion, including an approximately 2 percent negative impact from foreign exchange. . . .

All in all, a solid start to the year -- more before too terribly long. G'morning!

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