Merck ups outlook, turns profit during global vaccine hunt
published 31.07.2020 18:42
Nearly all of Merck's key drugs suffered sales declines, particularly those administered in hospitals and pediatric vaccines administered in doctors' offices.
Merck intends to try to get both approved, rather than picking the best one, because it expects multiple vaccines will be needed to protect different patient groups, research head Roger Perlmutter said Friday.
The latter uses the technology that’s the basis for Merck’s approved vaccine against the Ebola virus, which could improve chances for success against COVID-19.
The drugmaker blew past Wall Street projections and boosted its financial forecast for the year Friday even as it spends heavily on the development of two experimental vaccines and a possible treatment for COVID-19.
FAIRLESS HILLS, PA -- Surging sales of cancer medicines and reduced spending across the board helped Merck overcome a big hit from the coronavirus pandemic and pushed second quarter profits up by 12%.