COVID-19 treatment, Keytruda boost Merck in 1Q

Better-than-expected sales of its COVID-19 treatment and the cancer blockbuster Keytruda helped push Merck past profit forecasts in the first quarter

Merck soared past first-quarter expectations, helped by sales of its long-standing blockbuster cancer drug Keytruda and a new COVID-19 treatment that also topped forecasts.

The drugmaker raised its 2022 forecast Thursday after its coronavirus capsule treatment Lagevrio brought in almost $3.2 billion in sales in the quarter.

Analysts were expecting $2.54 billion from the drug, which debuted late last year under the name molnupiravir.

Not counting Lagevrio, Merck said its pharmaceutical revenue still grew 18% in the first quarter. Sales of Keytruda climbed 23% to $4.81 billion.