Merck & Co. Announces Second-Quarter 2017 Financial Results
- Second-Quarter 2017 Worldwide Sales Were $9.9 Billion, an Increase of 1 Percent, Including a 1 Percent Negative Impact from Foreign Exchange
- Second-Quarter 2017 GAAP EPS Was $0.71; Second-Quarter Non-GAAP EPS Was $1.01
- Company Narrows and Raises 2017 Full-Year Revenue Range to be Between $39.4 Billion and $40.4 Billion, Including an Approximately 1 Percent Negative Impact from Foreign Exchange
- Company Reduces 2017 Full-Year GAAP EPS Range to be Between $1.60 and $1.72; Continues to Expect 2017 Full-Year Non-GAAP EPS Range to be Between $3.76 and $3.88, Including an Approximately 1 Percent Negative Impact from Foreign Exchange
- KEYTRUDA Development Program Significantly Advances with Several Key Regulatory Approvals
- Merck Enters Global Strategic Oncology Collaboration with AstraZeneca
KENILWORTH, N.J.--(BUSINESS WIRE)--Merck (NYSE:MRK), known as MSD outside the United States and Canada, today announced financial results for the second quarter of 2017.
“We continued to deliver strong results in the second quarter, driven by robust momentum for KEYTRUDA and good progress with other products in our portfolio,” said Kenneth C. Frazier, chairman and chief executive officer, Merck. “The company continues to invest in innovative science that addresses the critical needs of population health, which benefits patients while creating long-term value for shareholders.”
Financial Summary
| Second Quarter | ||||||||||
| $ in millions, except EPS amounts | 2017 | 2016 | ||||||||
| Sales | $9,930 | $9,844 | ||||||||
|
GAAP net income1 |
1,946 | 1,205 | ||||||||
|
Non-GAAP net income that excludes items listed below1,2 |
2,778 | 2,587 | ||||||||
| GAAP EPS | 0.71 | 0.43 | ||||||||
|
Non-GAAP EPS that excludes items listed below2 |
1.01 | 0.93 | ||||||||
Worldwide sales were $9.9 billion for the second quarter of 2017, an increase of 1 percent compared with the second quarter of 2016, including a 1 percent negative impact from foreign exchange.
GAAP (generally accepted accounting principles) earnings per share assuming dilution (EPS) were $0.71 for the second quarter of 2017. Non-GAAP EPS of $1.01 for the second quarter of 2017 excludes acquisition- and divestiture-related costs, restructuring costs and certain other items. Year-to-date results can be found in the attached tables.