Merck KGaA's healthcare sales rise 5.1% in Q3, led by Bavencio, Mavenclad

Headline results for the third quarter:

  • Healthcare sales: €1.8 billion ($2.1 billion), up 5.1%
  • Overall revenue: €5 billion ($5.7 billion), up 11.8%
  • Profit: €761 million ($873 million), down 5.6%

Note: All changes are versus the prior-year period unless otherwise stated

What the company said:

"The third quarter was another quarter of strong profitable growth for Merck with all three business sectors and all regions contributing," remarked Merck KGaA chief executive Belén Garijo.

Other results:

  • Rebif: €234 million ($268 million), down 16.4%, with the decline in line with the US interferon market trend
  • Erbitux: €233 million ($267 million), up 7.4%, growing across all regions
  • Glucophage: €209 million ($240 million), down 7.5%, hit by China's volume-based procurement regulation that took effect last year
  • Mavenclad: €197 million ($226 million), up 33.2%
  • Gonal-f: €191 million ($219 million), down 0.7%, with growth in all markets except the US
  • Bavencio: €104 million ($119 million), up from €42 million ($48 million) in the prior year, boosted by approvals in the US, Europe and Japan for the treatment of locally advanced or metastatic urothelial carcinoma
  • Life Sciences: €2.2 billion ($2.5 billion), up 17.7%

Looking ahead:

As detailed earlier this month, Merck now expects sales this year of between €19.3 billion ($22.1 billion) and €19.85 billion ($22.8 billion), lifted from an earlier range of €18.8 billion ($21.6 billion) to €19.7 billion ($22.6 billion), mainly due to "a very strong operating performance" in its Life Sciences business. Meanwhile, earnings per share are forecast to be between €8.50 ($9.75) and €9.00 ($10.32), boosted from a prior range of €7.80 ($8.95) to €8.50 ($9.75).

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