Merck Announces First-Quarter 2024 Financial Results
- Sales Reflect Continued Strong Growth in Oncology and Vaccines
-
Total Worldwide Sales Were
$15.8 Billion , an Increase of 9% From First Quarter 2023; Excluding the Impact of Foreign Exchange, Growth Was 12%-
KEYTRUDA Sales Grew 20% to
$6.9 Billion ; Excluding the Impact of Foreign Exchange, Sales Grew 24% -
GARDASIL/GARDASIL 9 Sales Grew 14% to
$2.2 Billion ; Excluding the Impact of Foreign Exchange, Sales Grew 17%
-
KEYTRUDA Sales Grew 20% to
-
GAAP EPS Was
$1.87 ; Non-GAAP EPS Was$2.07 ; GAAP and Non-GAAP EPS Include a Charge of$0.26 per Share for Acquisition of Harpoon -
Received FDA Approval of WINREVAIR, a First-in-Class Treatment for Adults With Pulmonary Arterial Hypertension (
WHO Group 1) - Made Meaningful Regulatory and Clinical Progress Across Other Therapeutic Areas, Including Oncology, Vaccines and Infectious Diseases
- Expanded Pipeline and Portfolio Through Business Development, Including Completed Acquisition of Harpoon and Proposed Acquisition of Elanco’s Aqua Business
-
Full-Year 2024 Financial Outlook
-
Raises and Narrows Expected Worldwide Sales Range To Be Between
$63.1 Billion and$64.3 Billion -
Raises and Narrows Expected Non-GAAP EPS Range To Be Between
$8.53 and$8.65
-
Raises and Narrows Expected Worldwide Sales Range To Be Between
“Merck has begun 2024 with continuing momentum in our business. We are harnessing the power of innovation to advance our deep pipeline and are maximizing the impact of our broad commercial portfolio for the benefit of patients,” said
Financial Summary
$ in millions, except EPS amounts |
First Quarter |
|||
2024 |
2023 |
Change |
Change Ex-
|
|
Sales |
|
|
9% |
12% |
GAAP net income1 |
4,762 |
2,821 |
69% |
76% |
Non-GAAP net income that excludes certain items1,2* |
5,279 |
3,564 |
48% |
54% |
GAAP EPS |
1.87 |
1.11 |
68% |
76% |
Non-GAAP EPS that excludes certain items2* |
2.07 |
1.40 |
48% |
54% |
*Refer to table on page 6. |
Generally Accepted Accounting Principles (GAAP) earnings per share (EPS) assuming dilution was
Non-GAAP EPS excludes acquisition- and divestiture-related costs, costs related to restructuring programs, as well as income and losses from investments in equity securities. Non-GAAP EPS for the first quarter of 2023 also excludes a charge related to settlements with certain plaintiffs in the Zetia antitrust litigation.
First-Quarter Sales Performance
The following table reflects sales of the company’s top products and significant performance drivers.
|
First Quarter |
||||
$ in millions |
2024 |
2023 |
Change |
Change Ex-Exchange |
Commentary |
Total Sales |
|
|
9% |
12% |
Approximately 2% of the negative impact of foreign exchange was due to devaluation of Argentine peso, which was largely offset by inflation-related price increases, consistent with practice in that market. |
Pharmaceutical |
14,006 |
12,721 |
10% |
13% |
Increase driven by growth in oncology and vaccines, partially offset by a decline in diabetes. |
KEYTRUDA |
6,947 |
5,795 |
20% |
24% |
Growth driven by increased global uptake in earlier-stage indications, including triple-negative breast cancer and renal cell carcinoma, as well as non-small cell lung cancer (NSCLC) in the |
GARDASIL/GARDASIL 9 |
2,249 |
1,972 |
14% |
17% |
Growth due to strong demand, particularly in |
JANUVIA/JANUMET |
670 |
880 |
-24% |
-21% |
Decline primarily due to lower pricing and demand in the |
PROQUAD, M-M-R II and VARIVAX |
570 |
528 |
8% |
8% |
Growth largely from higher pricing in the |
BRIDION |
440 |
487 |
-10% |
-8% |
Decline primarily due to generic competition in certain ex- |
LAGEVRIO |
350 |
392 |
-11% |
-5% |
Decline due to lower demand in certain markets in the |
Lynparza* |
292 |
275 |
6% |
7% |
Growth driven primarily by higher demand in certain international markets, particularly in |
Lenvima* |
255 |
232 |
10% |
10% |
Growth primarily from higher demand in the |
VAXNEUVANCE |
219 |
106 |
106% |
106% |
Growth largely driven by continued uptake for pediatric indication in the |
ROTATEQ |
216 |
297 |
-27% |
-27% |
Decline primarily due to timing of shipments in |
|
1,511 |
1,491 |
1% |
4% |
Growth primarily driven by higher pricing in both Livestock and Companion Animal product portfolios, partially offset by lower volumes. Approximately 2% of the negative impact of foreign exchange was due to devaluation of Argentine peso, which was largely offset by inflation-related price increases. |
Livestock |
850 |
849 |
0% |
4% |
Sales were flat reflecting higher pricing across product portfolio, as well as higher demand for swine and poultry products, partially offset by lower demand for ruminant products. |
Companion Animal |
661 |
642 |
3% |
4% |
Growth due to higher pricing across product portfolio. Sales of BRAVECTO were |
Other Revenues** |
258 |
275 |
-6% |
11% |
Decline due to impact of revenue hedging activities. |
*Alliance revenue for this product represents Merck’s share of profits, which are product sales net of cost of sales and commercialization costs. |
|||||
**Other revenues are comprised primarily of revenues from third-party manufacturing arrangements and miscellaneous corporate revenues, including revenue hedging activities. |
First-Quarter Expense, EPS and Related Information
The table below presents selected expense information.
$ in millions |
GAAP |
Acquisition-
|
Restructuring
|
(Income)
|
Certain Other Items |
Non-
|
First Quarter 2024 |
|
|||||
Cost of sales |
|
|
|
$- |
$- |
|
Selling, general and administrative |
2,483 |
21 |
5 |
- |
- |
2,457 |
Research and development |
3,992 |
16 |
2 |
- |
- |
3,974 |
Restructuring costs |
123 |
- |
123 |
- |
- |
- |
Other (income) expense, net |
(33) |
(4) |
- |
(116) |
- |
87 |
|
|
|
|
|
|
|
First Quarter 2023 |
|
|
|
|
|
|
Cost of sales |
|
|
|
$- |
$- |
|
Selling, general and administrative |
2,479 |
20 |
1 |
- |
- |
2,458 |
Research and development |
4,276 |
10 |
- |
- |
- |
4,266 |
Restructuring costs |
67 |
- |
67 |
- |
- |
- |
Other (income) expense, net |
89 |
15 |
- |
(429) |
573 |
(70) |
GAAP Expense, EPS and Related Information
Gross margin was 77.6% for the first quarter of 2024 compared with 72.9% for the first quarter of 2023. The increase was primarily due to the favorable impacts of product mix (including lower royalty rates related to KEYTRUDA and GARDASIL/GARDASIL 9), foreign exchange and lower amortization of intangible assets, partially offset by higher restructuring costs and inventory write-offs.
Selling, general and administrative (SG&A) expenses were
Research and development (R&D) expenses were
Other (income) expense, net, was
The effective tax rate was 15.9% for the first quarter of 2024 (which includes a 1.6 percentage point unfavorable impact for the acquisition of Harpoon), compared with 22.6% in the first quarter of 2023 (which includes a 5.5 percentage point unfavorable impact for the acquisition of Imago).
GAAP EPS was
Non-GAAP Expense, EPS and Related Information
Non-GAAP gross margin was 81.2% for the first quarter of 2024 compared with 76.9% for the first quarter of 2023. The increase was primarily due to the favorable impacts of product mix (including lower royalty rates related to KEYTRUDA and GARDASIL/GARDASIL 9) and foreign exchange, partially offset by higher inventory write-offs.
Non-GAAP SG&A expenses were
Non-GAAP R&D expenses were
Non-GAAP other (income) expense, net, was
The non-GAAP effective tax rate was 16.1% for the first quarter of 2024 (which includes a 1.5 percentage point unfavorable impact for the acquisition of Harpoon), compared with 20.4% in the first quarter of 2023 (which includes a 4.3 percentage point unfavorable impact for the acquisition of Imago).
Non-GAAP EPS was
A reconciliation of GAAP to non-GAAP net income and EPS is provided in the table that follows.
First Quarter |
||
$ in millions, except EPS amounts |
2024 |
2023 |
EPS |
|
|
GAAP EPS |
|
|
Difference |
0.20 |
0.29 |
Non-GAAP EPS that excludes items listed below2 |
|
|
|
|
|
Net Income |
|
|
GAAP net income1 |
|
|
Difference |
517 |
743 |
Non-GAAP net income that excludes items listed below1,2 |
|
|
|
|
|
Excluded Items: |
|
|
Acquisition- and divestiture-related costs3 |
|
|
Restructuring costs |
246 |
97 |
Income from investments in equity securities |
(116) |
(429) |
Charge for Zetia antitrust litigation settlements |
- |
573 |
Net decrease in income before taxes |
626 |
831 |
Estimated income tax (benefit) expense |
(109) |
(88) |
Decrease in net income |
|
|
Pipeline and Portfolio Highlights
In cardiometabolic disease,
In oncology, KEYTRUDA continued to demonstrate its role as a foundational therapy for certain types of cancers, receiving the first approval in
In vaccines,
In infectious diseases,
Notable recent news releases on Merck’s pipeline and portfolio are provided in the table that follows.
Cardiometabolic |
FDA Approved Merck’s WINREVAIR, a First-in-Class Treatment for Adults With PAH, Based on Results From Phase 3 STELLAR Trial |
|
Oncology |
European Commission Approved Merck’s KEYTRUDA Plus Chemotherapy as Neoadjuvant Treatment, Then Continued as Monotherapy as Adjuvant Treatment, for Resectable NSCLC at High Risk of Recurrence in Adults, Based on Results From Phase 3 KEYNOTE-671 Trial |
|
FDA Granted Priority Review to Merck’s Application for KEYTRUDA Plus Chemotherapy as Treatment for Primary Advanced or Recurrent Endometrial Carcinoma, Based on Results From Phase 3 NRG-GY018 Trial |
||
KEYTRUDA Plus Chemoradiotherapy (CRT) Significantly Improved Overall Survival Versus CRT Alone in Patients With Newly Diagnosed High-Risk Locally Advanced Cervical Cancer, Based on Results From Phase 3 KEYNOTE-A18 Trial |
||
|
||
|
||
Vaccines |
|
|
|
||
Infectious Diseases |
|
Upcoming Investor Event
Full-Year 2024 Financial Outlook
The following table summarizes the company’s full-year financial outlook.
|
Full Year 2024 |
|
|
Updated |
Prior |
Sales* |
|
|
Non-GAAP Gross margin2 |
Approximately 81% |
Approximately 80.5% |
Non-GAAPOperating expenses2** |
|
|
Non-GAAPOther (income) expense, net2 |
Approximately |
Approximately |
Non-GAAPEffective tax rate2 |
14.5% to 15.5% |
14.5% to 15.5% |
Non-GAAPEPS2*** |
|
|
Share count (assuming dilution) |
Approximately 2.55 billion |
Approximately 2.54 billion |
*The company does not have any non-GAAP adjustments to sales. |
||
**Includes a one-time R&D charge of |
||
***Includes a one-time charge of |
Consistent with past practice, the financial outlook does not assume additional significant potential business development transactions.
Full-year 2023 non-GAAP EPS of
Non-GAAP EPS excludes acquisition- and divestiture-related costs, costs related to restructuring programs, income and losses from investments in equity securities, and a previously disclosed charge related to settlements with certain plaintiffs in the Zetia antitrust litigation.
Earnings Conference Call
Investors, journalists and the general public may access a live audio webcast of the earnings conference call on
All participants may join the call by dialing (888) 847-9708 (
About
At
Forward-Looking Statement of
This news release of
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s Annual Report on Form 10-K for the year ended
Appendix
Generic product names are provided below.
Pharmaceutical
BRIDION
(sugammadex)
GARDASIL (Human Papillomavirus Quadrivalent [Types 6, 11, 16 and 18] Vaccine, Recombinant)
GARDASIL 9 (Human Papillomavirus 9-valent Vaccine, Recombinant)
JANUMET(sitagliptin and metformin HCl)
JANUVIA(sitagliptin)
KEYTRUDA (pembrolizumab)
LAGEVRIO(molnupiravir)
Lenvima(lenvatinib)
Lynparza(olaparib)
M-M-R II(Measles, Mumps and Rubella Virus Vaccine Live)
PROQUAD(Measles, Mumps, Rubella and Varicella Virus Vaccine Live)
ROTATEQ (Rotavirus Vaccine, Live, Oral, Pentavalent)
VARIVAX(Varicella Virus Vaccine Live)
VAXNEUVANCE (Pneumococcal 15-valent Conjugate Vaccine)
WINREVAIR (sotatercept-csrk)
BRAVECTO
(fluralaner)
________________________________ |
1 Net income attributable to |
2
|
3 Includes expenses for the amortization of intangible assets recognized as a result of acquisitions of businesses, intangible asset impairment charges and expense or income related to changes in the estimated fair value measurement of liabilities for contingent consideration. Also includes integration, transaction and certain other costs associated with acquisitions and divestitures, as well as amortization of intangible assets related to collaborations and licensing arrangements. |
|
|||||||||||
CONSOLIDATED STATEMENT OF INCOME - GAAP | |||||||||||
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES) | |||||||||||
(UNAUDITED) | |||||||||||
Table 1 | |||||||||||
GAAP | % Change | ||||||||||
|
1Q24 |
|
|
1Q23 |
|
||||||
Sales |
$ |
15,775 |
|
$ |
14,487 |
|
9 |
% |
|||
Costs, Expenses and Other | |||||||||||
Cost of sales |
|
3,540 |
|
|
3,926 |
|
-10 |
% |
|||
Selling, general and administrative |
|
2,483 |
|
|
2,479 |
|
0 |
% |
|||
Research and development |
|
3,992 |
|
|
4,276 |
|
-7 |
% |
|||
Restructuring costs |
|
123 |
|
|
67 |
|
84 |
% |
|||
Other (income) expense, net |
|
(33 |
) |
|
89 |
|
* | ||||
Income Before Taxes |
|
5,670 |
|
|
3,650 |
|
55 |
% |
|||
Income Tax Provision |
|
903 |
|
|
825 |
|
|||||
Net Income |
|
4,767 |
|
|
2,825 |
|
69 |
% |
|||
Less: Net Income Attributable to Noncontrolling Interests |
|
5 |
|
|
4 |
|
|||||
Net Income Attributable to |
$ |
4,762 |
|
$ |
2,821 |
|
69 |
% |
|||
Earnings per Common Share Assuming Dilution |
$ |
1.87 |
|
$ |
1.11 |
|
68 |
% |
|||
Average Shares Outstanding Assuming Dilution |
|
2,544 |
|
|
2,551 |
|
|||||
Tax Rate |
|
15.9 |
% |
|
22.6 |
% |
|||||
* 100% or greater |
|
|||||||||||||||||||||||
FIRST QUARTER 2024 GAAP TO NON-GAAP RECONCILIATION | |||||||||||||||||||||||
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES) | |||||||||||||||||||||||
(UNAUDITED) | |||||||||||||||||||||||
Table 2a | |||||||||||||||||||||||
GAAP | Acquisition and Divestiture-Related Costs (1) | Restructuring Costs (2) |
(Income) Loss from Investments in |
Adjustment Subtotal | Non-GAAP | ||||||||||||||||||
First Quarter | |||||||||||||||||||||||
Cost of sales |
$ |
3,540 |
|
463 |
|
116 |
|
579 |
|
$ |
2,961 |
|
|||||||||||
Selling, general and administrative |
|
2,483 |
|
21 |
|
5 |
|
26 |
|
|
2,457 |
|
|||||||||||
Research and development |
|
3,992 |
|
16 |
|
2 |
|
18 |
|
|
3,974 |
|
|||||||||||
Restructuring costs |
|
123 |
|
123 |
|
123 |
|
|
– |
|
|||||||||||||
Other (income) expense, net |
|
(33 |
) |
(4 |
) |
(116 |
) |
(120 |
) |
|
87 |
|
|||||||||||
Income Before Taxes |
|
5,670 |
|
(496 |
) |
(246 |
) |
116 |
|
(626 |
) |
|
6,296 |
|
|||||||||
Income Tax Provision (Benefit) |
|
903 |
|
(92 |
) |
(3 |
) |
(42 |
) |
(3 |
) |
25 |
|
(3 |
) |
(109 |
) |
|
1,012 |
|
|||
Net Income |
|
4,767 |
|
(404 |
) |
(204 |
) |
91 |
(517 |
) |
|
5,284 |
|
||||||||||
Net Income Attributable to |
|
4,762 |
|
(404 |
) |
(204 |
) |
91 |
|
(517 |
) |
|
5,279 |
|
|||||||||
Earnings per Common Share Assuming Dilution |
$ |
1.87 |
|
(0.16 |
) |
(0.08 |
) |
0.04 |
|
(0.20 |
) |
$ |
2.07 |
|
|||||||||
Tax Rate |
|
15.9 |
% |
|
16.1 |
% |
Only the line items that are affected by non-GAAP adjustments are shown. | ||||||||||||
|
||||||||||||
(1) Amounts included in cost of sales primarily reflect expenses for the amortization of intangible assets. Amounts included in selling, general and administrative expenses reflect integration, transaction and certain other costs related to acquisitions and divestitures. Amounts included in research and development expenses primarily reflect the amortization of intangible assets. Amounts included in other (income) expense, net, primarily reflect royalty income related to the prior termination of the Sanofi-Pasteur MSD joint venture. | ||||||||||||
(2) Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to activities under the company's formal restructuring programs. | ||||||||||||
(3) Represents the estimated tax impacts on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments. |
|
||||||||||||||||
FRANCHISE / KEY PRODUCT SALES | ||||||||||||||||
(AMOUNTS IN MILLIONS) | ||||||||||||||||
(UNAUDITED) | ||||||||||||||||
Table 3 | ||||||||||||||||
2024 |
2023 |
1Q | ||||||||||||||
1Q | 1Q | 2Q | 3Q | 4Q | Full Year | Nom % | Ex-Exch % | |||||||||
TOTAL SALES (1) |
$ |
15,775 |
$ |
14,487 |
$ |
15,035 |
$ |
15,962 |
$ |
14,630 |
$ |
60,115 |
9 |
12 |
||
PHARMACEUTICAL |
|
14,006 |
|
12,721 |
|
13,457 |
|
14,263 |
|
13,141 |
|
53,583 |
10 |
13 |
||
Oncology | ||||||||||||||||
Keytruda |
|
6,947 |
|
5,795 |
|
6,271 |
|
6,338 |
|
6,608 |
|
25,011 |
20 |
24 |
||
Alliance Revenue – Lynparza (2) |
|
292 |
|
275 |
|
310 |
|
299 |
|
315 |
|
1,199 |
6 |
7 |
||
Alliance Revenue – Lenvima (2) |
|
255 |
|
232 |
|
242 |
|
260 |
|
226 |
|
960 |
10 |
10 |
||
Welireg |
|
85 |
|
42 |
|
50 |
|
54 |
|
72 |
|
218 |
102 |
102 |
||
Alliance Revenue – Reblozyl (3) |
|
71 |
|
43 |
|
47 |
|
52 |
|
70 |
|
212 |
66 |
66 |
||
Vaccines (4) | ||||||||||||||||
Gardasil/Gardasil 9 |
|
2,249 |
|
1,972 |
|
2,458 |
|
2,585 |
|
1,871 |
|
8,886 |
14 |
17 |
||
ProQuad/M-M-R II/Varivax |
|
570 |
|
528 |
|
582 |
|
713 |
|
545 |
|
2,368 |
8 |
8 |
||
Vaxneuvance |
|
219 |
|
106 |
|
168 |
|
214 |
|
176 |
|
665 |
106 |
106 |
||
RotaTeq |
|
216 |
|
297 |
|
131 |
|
156 |
|
185 |
|
769 |
-27 |
-27 |
||
Pneumovax 23 |
|
61 |
|
96 |
|
92 |
|
140 |
|
85 |
|
412 |
-36 |
-33 |
||
Hospital Acute Care | ||||||||||||||||
Bridion |
|
440 |
|
487 |
|
502 |
|
424 |
|
429 |
|
1,842 |
-10 |
-8 |
||
Prevymis |
|
174 |
|
129 |
|
143 |
|
157 |
|
175 |
|
605 |
35 |
39 |
||
Dificid |
|
73 |
|
65 |
|
76 |
|
74 |
|
87 |
|
302 |
12 |
12 |
||
Zerbaxa |
|
56 |
|
50 |
|
54 |
|
53 |
|
61 |
|
218 |
13 |
15 |
||
Noxafil |
|
56 |
|
60 |
|
55 |
|
51 |
|
46 |
|
213 |
-7 |
4 |
||
Cardiovascular | ||||||||||||||||
Alliance Revenue - Adempas/Verquvo (5) |
|
98 |
|
99 |
|
68 |
|
92 |
|
108 |
|
367 |
-1 |
-1 |
||
Adempas (6) |
|
70 |
|
59 |
|
65 |
|
65 |
|
66 |
|
255 |
18 |
18 |
||
Virology | ||||||||||||||||
Lagevrio |
|
350 |
|
392 |
|
203 |
|
640 |
|
193 |
|
1,428 |
-11 |
-5 |
||
Isentress/Isentress HD |
|
111 |
|
123 |
|
136 |
|
119 |
|
105 |
|
483 |
-10 |
-7 |
||
Delstrigo |
|
56 |
|
44 |
|
50 |
|
54 |
|
54 |
|
201 |
28 |
30 |
||
Pifeltro |
|
42 |
|
34 |
|
38 |
|
37 |
|
33 |
|
142 |
23 |
23 |
||
Neuroscience | ||||||||||||||||
Belsomra |
|
46 |
|
56 |
|
63 |
|
58 |
|
54 |
|
231 |
-17 |
-11 |
||
Immunology | ||||||||||||||||
Simponi |
|
184 |
|
180 |
|
180 |
|
179 |
|
171 |
|
710 |
2 |
1 |
||
Remicade |
|
39 |
|
51 |
|
48 |
|
45 |
|
43 |
|
187 |
-24 |
-21 |
||
Diabetes (7) | ||||||||||||||||
Januvia |
|
419 |
|
551 |
|
511 |
|
581 |
|
547 |
|
2,189 |
-24 |
-21 |
||
Janumet |
|
251 |
|
329 |
|
354 |
|
255 |
|
240 |
|
1,177 |
-24 |
-20 |
||
Other Pharmaceutical (8) |
|
576 |
|
626 |
|
560 |
|
568 |
|
576 |
|
2,333 |
-8 |
-6 |
||
ANIMAL HEALTH |
|
1,511 |
|
1,491 |
|
1,456 |
|
1,400 |
|
1,278 |
|
5,625 |
1 |
4 |
||
Livestock |
|
850 |
|
849 |
|
807 |
|
874 |
|
808 |
|
3,337 |
- |
4 |
||
Companion Animal |
|
661 |
|
642 |
|
649 |
|
526 |
|
470 |
|
2,288 |
3 |
4 |
||
Other Revenues (9) |
|
258 |
|
275 |
|
122 |
|
299 |
|
211 |
|
907 |
-6 |
11 |
*200% or greater | |||||||
Sum of quarterly amounts may not equal year-to-date amounts due to rounding. | |||||||
(1) Only select products are shown. | |||||||
(2) Alliance Revenue represents Merck’s share of profits, which are product sales net of cost of sales and commercialization costs. | |||||||
(3) Alliance Revenue represents royalties. | |||||||
(4) Total Vaccines sales were |
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(5) Alliance Revenue represents |
|||||||
(6) Net product sales in |
|||||||
(7) Total Diabetes sales were |
|||||||
(8) Includes Pharmaceutical products not individually shown above. | |||||||
(9) Other Revenues are comprised primarily of revenues from third-party manufacturing arrangements and miscellaneous corporate revenues, including revenue-hedging activities. Other Revenues related to the receipt of upfront and milestone payments for out-licensed products were |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240425889273/en/
Media Contacts:
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robert.josephson@merck.com
(215) 872-1462
michael.levey@merck.com
Investor Contacts:
(732) 594-1579
peter.dannenbaum@merck.com
(732) 594-1583
steven.graziano@merck.com
Source: