US-based Merck, Sharp & Dohme Inc. (MSD, NYSE: MRK) reported its Q3 2022 financial results, with sales reaching USD 45.45 billion over the first nine months, marking a 32% year-on-year (YOY) growth excluding exchange rate impact. For the three months of Q3, the company generated USD 14.96 billion in sales, up 18% YOY.
Key Product Performances
During the three-month Q3 period, key products included the programmed death-1 (PD-1) inhibitor Keytruda (pembrolizumab), with sales up 26% to USD 5.4 billion, and the Gardasil/Gardasil 9 (human papillomavirus) vaccine family, which achieved USD 2.3 billion in sales, a 20% increase. The COVID-19 treatment Lagevrio (molnupiravir), launched in Q4 2021, contributed USD 436 million, though this represented a decline from the over USD 1 billion in Q2 and over USD 3 billion in Q1 sales.
China Market Performance
China remains MSD’s second most significant single country market after the US, with Q3 sales reaching USD 1.419 billion, up 11% YOY in reported terms. Over the Q1-Q3 period, market sales in China were up 34% to USD 3.887 billion. The demand for Gardasil in China continues to be strong. As CFO Caroline Litchfield noted during the earnings conference call, MSD “recently received approval from China’s National Medical Products Administration to expand the use of GARDASIL 9 to girls and women 9 to 45 years of age, which will further expand our opportunity in this important market.” The vaccine was previously approved only for use in women aged 16 to 26.
Leadership Transition
MSD also announced that current chairman Ken Frazier is set to retire after 10 years in the post and approximately 20 years with the company. Frazier, who stepped down as CEO in 2021, will be succeeded by Robert M. Davis, who was also named MSD’s president and CEO in 2021.-Fineline Info & Tech
