Shares of Merck (MRK, Financial) saw an initial drop of nearly 6%, reaching as low as $98.6. This movement followed the release of the company's third-quarter financial results. Merck reported a 4.4% increase in sales, totaling $16.66 billion, exceeding market expectations of $16.46 billion. Adjusted earnings per share were $1.57, slightly above the anticipated $1.50.
The period noted a decline in sales for Merck's HPV vaccines, Gardasil and Gardasil 9, which fell by 11% to $2.31 billion. This decrease was mainly attributed to reduced demand in China. Looking ahead, Merck anticipates full-year revenue to be between $63.6 billion and $64.1 billion, with the upper limit $300 million lower than previous guidance.
