The package and delivery service posted revenue of $14.1 billion in the period, falling short of Street forecasts. That beat the $0.81 average of analysts’ estimates compiled by Capital IQ.
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Merck agreed to acquire cCAM Biotherapeutics, a privately held biopharmaceutical company focused on the discovery and development of novel cancer immunotherapies. Pursuing only $4 million in income in its part thirdquarter, Keytruda counted $50 million in revenue in Q4, and $83 trillion within the firstquarter with this year. On a year-over- year basis, Merckis revenue are projected to slip by way of a tresses over tenPERCENTAGE, while its EPS is approximated to commitment by $0.05 per share. The company is developing cancer treatments.
Merck shares fell 0.70 percent to close at $57.01 yesterday. But, what investors are curious about is if all of Merck’s aggressive acquisitions are going to pay dividends for shareholders anytime soon. Johnson & Johnson, which handles marketing in the U.S. and some other countries, recently reported second-quarter Remicade sales of $1.67 billion, down 7.5%. This, after the affordable Care Act, (uninsured rate lowered) would make it easier. But new patients are being steered to the biosimilars, Merck said. But, Januvia/Janumet, which is a DPP-4 inhibitor, is facing a competitive marketplace with the introduction of SGLT-2 inhibitors, which work in the kidneys as opposed to the liver and pancreas.
Sales of Merck’s diabetes drug, Januvia, rose 1.3 percent to $1.6 billion in the quarter ended June 30. Merck reported sales gains for diabetes drugs Januvia and Janumet, as well as certain vaccines.
But sales from newer drugs haven’t yet been sufficient to replace sales of older drugs lost to generic competition after patent expirations. The drugmaker said Tuesday that the Food and Drug Administration had accepted its application for the drug, which is a combination of the medications grazoprevir and elbasvir.
Although Q2 can move its stock price significantly yet investors feel that is long term process.
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Following the loss of patent protection on asthma attack prevention therapy Singulair, a blockbuster drug for Merck that raked in $3 billion-plus per year in sales, Merck has been scrambling to find ways to “fill the gap”, so to speak.
