Expect significant new tariffs on Chinese imports and moderate levies on goods from other nations , as President-elect Donald Trump rolls out his protectionist agenda. However, with his preference for chaotic policymaking and sudden shifts , there’s uncertainty on how soon these import taxes will actually hit. Dubbed “ Tariff Man ,” Trump aims to use tariffs both strategically and tactically . He’s mentioned taxing all Chinese goods up to 60% and potentially setting 10%-20% tariffs on imports globally , but details on these plans remain vague . Key players within Trump’s team are divided: Robert Lighthizer , a staunch tariff advocate, sees permanent duties as crucial to balance US trade , while others, like billionaires John Paulson and Scott Bessent , view tariffs as temporary leverage. Trump’s previous administration had mixed feelings, especially on national security-related trade limits , which he sometimes dismissed, favoring an “open for business” approach. High-profile busin
Merck & Co reported better-than-expected second-quarter results, driven by strong growth in Keytruda, its blockbuster cancer immunotherapy and the world's best-selling prescription medicine.
Merck posted a profit of $5.5 billion ($2.14 per share) for the quarter, compared to a loss of $6 billion ($2.35 per share) a year earlier due to a large acquisition-related charge. Excluding one-time items, Merck earned $2.28 per share, surpassing analysts' expectations of $2.15.
Sales for the quarter rose 7% to $16.1 billion, exceeding analysts' expectations of $15.8 billion. Keytruda sales hit $7.3 billion, up 16% from a year ago, beating the $7.1 billion expected by analysts.
Merck also recently launched Winrevair, a drug for pulmonary arterial hypertension (PAH), which recorded $70 million in sales during the quarter, surpassing expectations.
The company raised its full-year sales forecast to $63.4 billion to $64.4 billion, up from $63.1 billion to $64.3 billion. However, it lowered its full-year earnings forecast to $7.94 to $8.04 per share, down from $8.53 to $8.65, due to a $1.3 billion charge related to its acquisition of EyeBio.
Merck's shares were down 2% in premarket trading.
Key Takeaways:
- Merck’s Q2 profit was $5.5 billion ($2.14 per share), compared to a loss of $6 billion ($2.35 per share) a year earlier.
- Excluding one-time items, Merck earned $2.28 per share, beating the $2.15 expected by analysts.
- Quarterly sales rose 7% to $16.1 billion, exceeding expectations.
- Keytruda sales were $7.3 billion, up 16%, beating analyst expectations.
- Winrevair, a new drug for PAH, recorded $70 million in sales.
- Merck raised its full-year sales forecast but lowered its earnings forecast due to acquisition-related charges.
- Merck's shares fell 2% in premarket trading.
Comments
Post a Comment