The two immunotherapy giants Merck & Co. and Bristol-Myers Squibb have reported their third quarter financial results. The two groups have announced very diverse financial results, indeed Merck has partially disappointed investors, while BMS has reported results beyond expectations. By contrast, both companies have reported a relevant sales increase for their respective blockbuster immunotherapies: Merck & Co.’s Keytruda has reported a 80% sales increase over Q3 2017 and revenues have reached $1.88bn. Sales of BMS’ Opdivo have achieved $1.79bn, that is 42% more than the figures reported in Q3 2017.
Merck & Co. has reported a $1.95bn net profit, that is $56m less than Q3 2017, which is fairly below analysts’ expectations. Sales have increased by 4.5% to $10.79bn, instead of the expected $10.88bn. The management has slightly lowered the guidance for the current year, which has caused shares to decrease 3% in few minutes, soon after the announcement.
By contrast, BMS has improved the current year guidance, causing shares to rise by 0.78%, also because third quarter profit has doubled as compared to Q3 2017, and revenues have increased by 8% to $5.69bn.