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Merck reported third-quarter revenue of $16.66 billion and adjusted earnings of $1.57 per share, surpassing analyst expectations. Strong sales from Keytruda and new treatments offset a decline in Gardasil vaccine sales, which fell 11% due to lower demand in China. The company narrowed its full-year sales forecast and adjusted profit guidance, reflecting a one-time charge related to business development deals.
Gilead has withdrawn its bladder cancer treatment Trodelvy after a confirmatory study failed to demonstrate improved survival rates. Initially granted accelerated approval in 2021, the decision reflects the FDA's increased scrutiny of such approvals. Despite this setback, Trodelvy remains a key player in Gilead's oncology portfolio, particularly for breast cancer, where sales are projected to reach $1 billion by 2030.
The SMI closed lower, with Swiss Re among the decliners, while Wall Street showed weakness. In Tokyo, the Nikkei index rose 0.3% to 39,110.95, buoyed by technology stocks like Advantest and Tokyo Electron, despite caution ahead of corporate results and the upcoming general election on October 27. Fast Retailing, KDDI, and Daiichi Sankyo were among the notable losers.
Daiichi Sankyo Company, Limited
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merck reports strong earnings driven by keytruda despite declining vaccine sales
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11:31 31.10.2024
gilead withdraws trodelvy from bladder cancer market after negative trial results
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14:05 18.10.2024
Nikkei rises on tech gains while investors await corporate results
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09:00 18.10.2024
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