Merck, Sharp & Dohme (MSD; NYSE: MRK), a leading US pharmaceutical company, has released its financial report for the fourth quarter and full year of 2023. In Q4, MSD generated USD 14.6 billion in sales, marking a 6% year-on-year increase, with growth expanding to 13% when excluding the impacts from the COVID-19 drug Lagevrio (molnupiravir) and exchange rate effects. For the full year, MSD’s sales reached USD 60.1 billion, up 1%, or 12% excluding COVID and currency factors.
Over the 12-month period, MSD’s pharmaceuticals segment brought in USD 53.6 billion in sales, up 3% year-on-year. Among its core products, the PD-1 inhibitor Keytruda (pembrolizumab) grew by 21% to USD 25.0 billion, and the Gardasil/Gardasil 9 HPV vaccine sales increased by 33% to USD 8.9 billion.
During the conference call, executives highlighted the significant market demand for HPV vaccines in China, where the Gardasil franchise remains competitive despite market competition, including a recently approved two-dose schedule competitor. MSD also submitted data for Gardasil in male subjects late last year and could gain approval for that new market segment later this year. China sales were up 20% in Q4 to USD 1.5 billion and up 32% year-on-year over the 12 months to USD 6.71 billion.
In other regions, US sales were up 6% to USD 26.5 billion, while Europe dropped by 11% to USD 9.71 billion, Japan dipped by 13% to USD 3.08 billion, Asia-Pacific excluding Japan and China stood at USD 2,661 in sales, down by 12%, and Latin America rose by 24% to USD 2.33 billion.
Pharmaceutical sales growth in 2023 was partially offset by lower sales of the COVID-19 medication Lagevrio, as well as lower sales of Januvia (sitagliptin) and Janumet (sitagliptin and metformin HCl), reflecting generic competition in many ex-US markets and lower demand in the US. There were also lower sales of Pneumovax 23 as the market continues to shift towards newer adult pneumococcal conjugate vaccines. Lagevrio sales declined by 74% to USD 1.4 billion.
The FDA accepted and granted priority review status to Merck and Daiichi Sankyo’s Biologics License Application (BLA) for the HER3-directed antibody drug conjugate (ADC) patritumab deruxtecan as a treatment for certain patients with previously treated locally advanced or metastatic EGFR-mutated non-small cell lung cancer (NSCLC). In the vaccines segment, Merck received priority review status from the FDA for a BLA for V116, the company’s investigational 21-valent pneumococcal conjugate vaccine designed to protect adults.- Flcube.com
