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Story summary
- Merck & Co. reported Q3 2025 revenue of $17.28 billion, above estimates.
- Keytruda sales reached $8.14 billion, up 10% but below forecasts.
- Merck narrowed 2025 revenue guidance to $64.5–$65 billion, trimming the top end by $300 million, pursuing cost-cutting measures.
- The stock slid over 3% amid concerns about Keytruda’s 2028 patent expiration.
- Gardasil sales fell 24% to $1.7 billion due to weak China demand, prompting a halt in shipments.
