FILE- This May 1, 2018, file photo shows Merck corporate headquarters in Kenilworth, N.J. Merck & Co. reports financial results Tuesday, April 30, 2019. (AP Photo/Seth Wenig, File)

Merck Shares Soar Along With Its First Quarter Profit

April 30, 2019 - 4:23 am

KENILWORTH, N.J. (AP) — Merck is breezing past all expectations for the first quarter with global sales jumping 8 percent to almost $11 billion.

The New Jersey drugmaker on Tuesday said it earned $2.92 billion, or $1.12 per share. Earnings, adjusted for one-time gains and costs, were $1.22 per share, when industry analysts were projecting per-share earns of only $1.05.

Merck & Co. expects full-year earnings in the range of $4.67 to $4.79 per share, with revenue in the range of $43.9 billion to $45.1 billion.

Sales of the company's pivotal lung cancer treatment Keytruda soared in the first quarter of the year.

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