Merck & Co on Friday reported a quarterly profit that beat analysts` estimates, benefiting from sales of its immuno-oncology drug Keytruda.
Sales of Keytruda, which were helped by approval across various indications this year, were $1.05 billion for the third quarter, in line with Leerink consensus estimates.
Merck`s shares were up 1.8 percent at $63.10 before the bell.
Net loss attributable to Merck was $56 million, or 2 cents per share, in the third quarter, compared with a year-ago profit of $2.18 billion, or 78 cents per share.
Merck had a $2.35 billion charge related to its collaboration with AstraZeneca Plc, which it had announced in the second quarter.
Excluding items, Merck earned $1.11 per share, beating analysts` average estimate of $1.03, according to Thomson Reuters I/B/E/S.
However, sales fell to $10.33 billion from $10.54 billion, hurt by the NotPetya cyber attack in the second quarter, which had disrupted its manufacturing operations.
The drugmaker also narrowed and raised its full-year adjusted earnings per share forecast to $3.91-$3.97 from $3.76-$3.88.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.