Germany-based Merck (ETR: MRK) has released its financial results for the third quarter of 2023, revealing a 4.1% year-on-year (YOY) decline in organic sales, totaling EUR 5.2 billion (USD 5.5 billion) for the three-month period. The results highlight a challenging environment, with only the Healthcare division showing growth.
The Healthcare segment experienced a notable increase of 7.4% YOY, reaching EUR 2.1 billion (USD 2.2 billion). This growth was driven by several key products, including the oncology blockbuster Erbitux (cetuximab), which generated sales of EUR 271 million (USD 289 million), marking a 13.3% increase largely attributed to demand in China and Latin America. Additionally, the PD-L1 blocker Bavencio (avelumab) saw a 21.6% global expansion, contributing EUR 185 million (USD 197 million), bolstered by its urothelial carcinoma indication.
In contrast, the Electronics sector reported a 4.0% decline in sales, totaling EUR 916 million (USD 977 million), while the Life Science division faced a significant drop of 13.2%, bringing in EUR 2.2 billion (USD 2.3 billion). This downturn was primarily due to a weak market in China and decreased demand for pandemic-related products.
Regionally, Merck only saw growth in Latin America, where sales surged by 21%. However, the company experienced declines of 1.2% in the Middle East and Africa, 2.6% in Asia-Pacific, 6.8% in Europe, and 8.7% in North America.- Flcube.com
