Merck lifted its 2026 adjusted earnings-per-share range after sales of Keytruda and its newer injectable form beat analyst expectations, according to CNBC's account of the drugmaker's third-quarter results.
CNBC reported that the revised adjusted earnings range is $2.77 to $2.82 per share, up from $2.66 to $2.76. The new range includes a one-time $400 million charge, equal to 12 cents per share, tied to a licensing agreement involving Chinese cancer drugmaker SciBrunch. Merck's 2026 revenue forecast now has a $66.8 billion floor, raised from $66.3 billion, while the top remains $67.3 billion.
Keytruda sales totaled $8.60 billion, CNBC said, against the $7.73 billion StreetAccount estimate. Keytruda Qlex, the under-the-skin injection, accounted for $830 million; StreetAccount's estimate was $649 million. The Qlex figure was its biggest quarter since its 2025 launch.
For the company overall, CNBC's report put revenue at $18.09 billion, up 5% from a year earlier, and adjusted earnings at $2.49 per share. LSEG analyst estimates cited by CNBC were $17.31 billion and $2.08 per share, respectively. Net income was $5.07 billion, or $2.04 per share, compared with $5.79 billion, or $2.32 per share, in the year-earlier quarter.
The report said Merck is trying to move patients from Keytruda's original intravenous treatment to Qlex as key patents begin expiring in 2028. CNBC described the shift as part of the company's effort to sustain Keytruda sales as the original treatment approaches potential biosimilar competition.
Outside Keytruda, Winrevair and Gardasil beat analyst estimates, while animal health sales came in slightly below them, CNBC reported. Winrevair, a treatment for a rare lung condition, brought in $694 million, up 93% year over year, compared with $645 million expected.
Gardasil sales were about $2 billion against $1.76 billion expected; CNBC linked the result to stronger U.S. demand. The animal health business recorded $1.68 billion in sales, slightly under analyst estimates.
