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Merck expects huge sales of COVID-19 treatment

If regulators approve COVID treatment in December, the company expects $ 1 billion in sales from this year’s COVID treatment.

Merck has dropped out of development competition COVID-19 (New Coronavirus Infection) Vaccinated earlier this year, it could lead the pack for 2022 treatment.

Molnupiravir, a potential antiviral drug for pharmaceutical companies, could generate $ 5 to $ 7 billion in sales by next year, company executives told analysts Thursday morning. If regulators approve it in December, it could be as much as $ 1 billion this year.

The company is seeking approval in both the United States and Europe for the first tablet to treat COVID-19. All other treatments supported by the US Food and Drug Administration require IV or injections.

“The need for additional treatment options remains important in combating COVID-19.

Dean Lee, president of the Merck Institute, called analysts Thursday to discuss the results of the third quarter.

The FDA says a committee of outside experts will meet later next month to consider treatments for adults with mild to moderate COVID-19 who are at risk of severe illness or hospitalization.

Earlier this month, Merck reported in a test that pills cut hospitalizations and deaths in patients with early symptoms of COVID-19 by half.

The treatment Merck has developed with Ridgeback Biotherapy is consistently effective against several viral variants, including the currently predominant delta version, Lee said.

Merck is also studying molnupiravir to see if it can be used to prevent the spread of COVID-19 in the home after someone has been exposed to the virus. The company is looking forward to the results of that study next spring.

In the third quarter, Merck’s blockbuster cancer drug Keytruda and the vaccine Gardasil far exceeded Wall Street’s third-quarter expectations, despite COVID-19 curbing demand for another vaccine. Pushed up pharmaceutical companies beyond.

Keytruda’s revenue grew 22% to $ 4.5 billion, and sales of the Gardasil vaccine against the cancer-causing human papillomavirus surged 68%.

However, sales of Merck’s pneumococcal vaccine, Streptococcus pneumoniae 23, fell 26%, primarily because people in the United States prioritized vaccinations to prevent COVID-19.

Overall, Merck posted adjusted earnings of $ 1.75 per share. This was due to a 55% increase in quarterly net income to $ 4.57 billion.

According to FactSet, analysts expect to earn $ 1.55 per share and $ 12.32 billion on average.

Merck also said Thursday that it had raised and tightened its 2021 forecast. Currently, we expect adjusted earnings for the full year to be between $ 47.4 billion and $ 47.9 billion, from $ 5.65 to $ 5.70 per share. Potential COVID-19 treatment was not included in the prediction.

Analysts expect to generate approximately $ 47.68 billion in revenue and $ 5.64 per share.

Merck said the global health system has been heavily adapted to the ongoing pandemic and still hurt sales earlier this year as people postponed visits to both doctors and veterinarians.

Merck makes medicine for both humans and animals. The company expects COVID-19 to have less than 3% revenue hits in 2021.

Merck & Co, based in Kenilworth, NJ. Inc. Shares surged nearly 5% to $ 85.40 on Thursday as the broader index rose slightly.

Merck expects huge sales of COVID-19 treatment

Source link Merck expects huge sales of COVID-19 treatment

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