Merck Posts Surprise Quarterly Profit Against An Expected Loss, Oncology And Vaccines Drive Growth
Portfolio Pulse from Vandana Singh
Merck & Co Inc (NYSE:MRK) reported a surprise Q4 2023 profit with sales of $14.63 billion, up 6% Y/Y, driven by oncology, vaccines, and hospital acute care. Keytruda sales rose 21% to $6.61 billion, while Lagevrio sales dropped 77%. Adjusted EPS was $0.03, beating consensus. The company forecasts 2024 sales of $62.7 billion-$64.2 billion and adjusted EPS of $8.44-$8.59. Merck also announced the acquisition of Harpoon Therapeutics Inc (NASDAQ:HARP), expected to close in H1 2024.
February 01, 2024 | 3:43 pm
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POSITIVE IMPACT
Harpoon Therapeutics is being acquired by Merck, with the transaction expected to close in the first half of 2024.
The acquisition by Merck is a significant development for Harpoon Therapeutics, likely leading to a positive short-term impact on HARP's stock price as it benefits from the resources and network of a larger pharmaceutical company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Merck reported a surprise Q4 profit, with significant growth in oncology and vaccines. The company provided a positive 2024 outlook and announced the acquisition of Harpoon Therapeutics.
Merck's unexpected Q4 profit and positive guidance for 2024, along with the strategic acquisition of Harpoon Therapeutics, are likely to boost investor confidence and potentially increase the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100