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(Reuters) – Drug maker Merck & Co (NYSE: MRK) has increased its earnings guidance for the year after having beat Wall Street estimates Keytruda sales rose 89.2% to $ 1.67 billion, outpacing past sales of its rival Opimmo immunotherapy by Bristol-Myers Squibb (NYSE: BMY). According to Credit Suisse, analysts expected a turnover of $ 1.59 billion for Keytruda.
Keytruda and his rival Bristol-Myers Squibb (NYSE: BMY) Opdivo have accumulated approvals for a wide range of cancers. The two cancer drugs work by triggering the immune system to attack the tumors, but Merck conducts treatments for lung cancer, alone and in combination with chemotherapy.
(For a chart on 'Keytruda vs. Opdivo', click on https://tmsnrt.rs/2Lo7jlL)
Shares of Dow component rose 1.4% to 64, 9 dollars before the bell. They grew nearly 14% this year, surpassing the S & P 500 health care index by 7.1% <.spxhc> and the 3.3% rise in the blue chip index. <.dji>
Cancer Prevention Gardasil vaccines increased by 30% to $ 608 million during the quarter and animal health by 14.1% to $ 1.09 billion of dollars.
Analysts and investors have called for a separation of the unit, but Merck has pointed out in the past that it was an important "pillar of growth" and that he was offering a diversification from Keytruda.
Merck's total sales increased 5.4 percent to $ 10.47 billion
. The company now expects adjusted earnings of $ 4.22 to $ 4.30 per share, up from $ 4.16 to $ 4.28 per share. Earnings attributable to the company fell to $ 1.71 billion, or 63 cents per share, in the second quarter ended June 30 from $ 1.95 billion, or 71 cents a share, a year earlier.
ahead of the average analyst estimate of $ 1.03 per share, according to Thomson Reuters I / B / E / S.
(Manas Mishra Report to Bengaluru, edited by Arun Koyyur)
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