Merck Lifts Sales View as Keytruda, Covid Drug Outperform
- Cancer drug pulls in 40% of revenue as its uses are growing
- Covid pill Lagevrio beats estimates despite questions on risks
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Merck & Co. raised its sales forecast amid increased demand for Keytruda, its blockbuster cancer treatment that now accounts for 40% of revenue, and a surprisingly strong result from its controversial Covid treatment.
Total annual sales are now expected to be as high as $60.2 billion, up from prior guidance that topped out at $59.6 billion, Merck said Thursday as it reported third-quarter earnings.