1. Scrip
  2. >>Business

Merck & Co.'s Transitional Year Is Off To A Sluggish Start

 
• By Jessica Merrill

The company, in the midst of a leadership and structural transition, said the pandemic negatively impacted revenues by about $600m.

Turtle
Merck & Co. got off to a slow financial start • Source: Alamy

Merck & Co., Inc..'s first quarter earnings call on 29 April was the last for CEO Ken Frazier, who is passing the leadership reins to president Robert Davis on 30 June. The financial results weren't a strong way for Frazier to go out, as Merck & Co.'s financials were negatively impacted by the COVID-19 pandemic and even the company's crown jewel – Keytruda – posted slower growth.

With about 70% of the company's pharmaceutical portfolio made up of physician administered products, including vaccines, Merck & Co. said health care disruptions caused by the pandemic continued to weigh...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Earnings

More from Business

Challenging Environment For Biopharma Is A Tailwind For Royalty Pharma

 
• By Jessica Merrill

The royalty revenue stream acquirer has around 40 products in its portfolio and expects to generate roughly $3bn this year. Head of R&D and investments Marshall Urist talked about the investment strategy at the RBC Healthcare Conference.

Finance Watch: SV Closes Second Dementia Discovery Fund, Exceeding $250m Goal

 
• By Mandy Jackson

Private Company Edition: SV Health Investors revealed the final closing of its second Dementia Discovery Fund. Also, Eikon cut nearly 15% of its staff, Pathos AI raised $365m in series D venture capital and CellCentric completed a $120m series C round, among other financings.

Sanofi Makes Alzheimer’s Bet With Vigil Buy

 
• By Kevin Grogan

The French drugmaker is expanding its neurology activities with the $470m deal.