Merck Forecasts Strong Profit On Continued Keytruda Momentum

  • Drugmaker searches for new sources of growth with deals
  • Forecast includes recent acquisition of biotech Harpoon
The Merck headquarters in Rahway, New Jersey, US.Photographer: Christopher Occhicone/Bloomberg

Merck & Co. forecast annual profit ahead of Wall Street views as sales of its cancer blockbuster Keytruda remained strong ahead of a looming patent expiration.

Merck could face generic competition later this decade for its top-seller Keytruda, which grew 19% to $25 billion in sales last year. Under Chief Executive Officer Rob Davis, the company has inked billions of dollars worth of deals for new drugs to offset that pressure.