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Merck Stock Dips on Mixed Q2 Results Amid Strategic Shift
Merck Stock Dips on Mixed Q2 Results Amid Strategic Shift
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BTCCSquare news:
Merck & Co. shares fell nearly 2% Tuesday, underperforming pharmaceutical peers after reporting a 2% year-over-year revenue decline to $15.8 billion. While cancer drug Keytruda saw 9% sales growth and animal health revenue ROSE 11%, GAAP net income dropped 8% to $5.4 billion.
The results missed revenue estimates but beat adjusted EPS forecasts, prompting CEO Robert Davis to announce a "multi-year optimization initiative" redirecting resources from mature business segments to emerging growth drivers. Market reaction reflects investor skepticism about Merck's transitional phase as it rebalances its portfolio.
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