Here are five things to know:
1. Merck attributed the profit to a big jump in U.S. medicine sales, particularly for its blockbuster cancer drug Keytruda. Keytruda boosts a patient’s immune system to fight cancer.
2. The loss in the third quarter of 2017 was a result of several one-time expenses, including a cyberattack in June of that year that shut down production.
3. Overall, Merck reported $10.8 billion in global sales in the third quarter of 2018, up 5 percent from the same period one year prior.
4. During the earnings call, the company said it was initiating a $10 billion share buyback program.
5. “We built on our strong momentum during the quarter and believe that Merck is well-positioned to continue creating sustainable value for shareholders and patients,” said Kenneth C. Frazier, Merck chairman and CEO.
More articles on pharmacy:
Drug take back day is Oct. 27: 5 things to know
Amgen cuts list price of $14K-a-year cholesterol drug nearly 60%
Trump’s plan to lower prescription drug prices: 7 takeaways
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
