Merck Beats Profit Goals on Cancer Drug Boom
Merck raised its profit outlook after strong sales of its top cancer treatment Keytruda.
Merck is beating expectations this quarter. The drugmaker raised its full-year profit target today. Strong demand for its cancer treatments fuels the jump.
Its main cancer drug is Keytruda. A new injectable version of the medicine brought in huge sales. Patients get the shot faster than older treatments. This change keeps Merck ahead of its rivals.
Total earnings beat Wall Street targets across the board. The company now expects higher revenue through the rest of the year. Doctors continue to choose this medicine for many types of tumors.
Steady demand for lifesaving medicine protects top drugmakers during rocky markets. Strong results like this give investors confidence in healthcare stocks.
Source: CNBC
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