Merck & Co. Inc. (NYSE:MRK) shares fell over 6% in early trading Tuesday after the pharmaceutical giant reported a mixed second-quarter earnings picture, with adjusted earnings surpassing analyst consensus but overall sales experiencing a slight year-over-year decline and missing revenue expectations.
The market’s cautious reaction underscores investor scrutiny of the company’s performance, particularly a significant drop in Gardasil vaccine sales, even as its blockbuster cancer drug Keytruda continued its strong growth trajectory.
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