Merck has reported a net income of $3.15bn, or $1.24 per diluted share, for the third quarter ended 30 September 2024, a 33% decline compared to $4.74bn, or $1.86 per diluted share, for the same period in 2023.
The pharmaceutical company’s net income for the third quarter of 2024 (Q3 2024) decreased by 42% compared to $5.45bn for the second quarter of 2024 (Q2 2024).
The US-based drugmaker reported total sales of $16.65bn for Q3 2024, a 4% rise compared to $15.96bn for the respective quarter in 2023, and a 3% rise compared to $16.11bn for Q2 2024.
Merck reported an income before tax of $4.09bn for Q3 2024, a 27% decline compared to $5.62bn for the same period in the previous year.
The company reported research and development expenses of $5.86bn for Q3 2024, a 77% increase compared to $3.30bn for the respective quarter in 2023.
Merck chairman and CEO Robert Davis said: “Our third-quarter results were strong, as we continue to make progress heading into 2025 and beyond.
“Our pipeline is advancing and expanding, demonstrating our success in creating a sustainable innovation engine and positioning Merck with a more diversified portfolio to drive growth.
“I continue to remain confident in the strength of our business and our ability to execute, and I want to thank our colleagues across the globe for their focus and commitment as we work to create lasting value for patients, shareholders and all our stakeholders.”
Merck reported net Income of $13.37bn, or $5.26 per diluted share, for the first nine months (9M) of 2024, compared to $1.59bn, or $0.62 per diluted share, for the respective period in 2023.
The pharmaceutical company reported total sales of $48.54bn for 9M 2024, a 7% increase compared to $45.48bn for the same period in the previous year.
Merck reported an income before tax of $15.76bn for 9M 2024, compared to $3.93bn for the respective period in the previous year.
The company reported research and development expenses of $13.35bn for 9M 2024, a 36% decline compared to $20.9bn for the same period in 2023.
Recently, Merck acquired Modifi Biosciences, a biotechnology company focused on direct DNA modification-enabled cancer therapeutics, for up to $1.3bn.
