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Merck & Co reported a first-quarter loss on Thursday, primarily due to acquisition-related charges.
Merck's first-quarter revenue reached $16.3 billion, surpassing analyst expectations of $15.8 billion.
KEY POINTS
- The company's adjusted loss per share was $1.28, narrower than the expected $1.51 loss.
- A $3.62 per share charge from acquiring Cidara Therapeutics heavily impacted quarterly results.
- Full-year profit forecast now excludes Terns Pharmaceuticals' acquisition, which will add a $2.35 per share charge.
- Winrevair sales surged 88% while Keytruda sales rose 12% during the quarter.
COMPANIES
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