Merck & Co., Inc. announced on Thursday its sales in the first quarter of the fiscal year 2024 saw an annual increase of 9% to come in at $15.8 billion. The pharmaceutical company's net income grew by 69% compared to the same trimester the year before to hit $4.8 billion. Meanwhile, its diluted earnings per share (EPS) went up by 68% year-on-year to $1.87 per share.
"We drove strong growth across key therapeutic areas, executed strategic business development, and in the US, we are now launching WINREVAIR, a significant new product in the cardiometabolic space for adults with pulmonary arterial hypertension, a progressive and debilitating disease. We have important opportunities ahead of us across all areas of our business, and we are highly focused on realizing them," Chairman and Chief Executive Officer (CEO) Robert M. Davis commented.
After the report was released, Merck's shares gained 2.94% in premarket trading.
