MSD announced its full-year 2024 financial outlook, raising its expected worldwide sales range to between $63.4bn and $64.4bn. Credit: JHVEPhoto / Shutterstock.

MSD has reported a net income on a GAAP [generally accepted accounting principles] basis of $5.4bn for the second quarter (Q2) of 2024 compared to the net loss of $5.9bn in the same quarter of the previous year.

For the quarter ended 30 June 2024, GAAP earnings per share (EPS) stood at $2.14, compared to a loss per share of $2.35 in Q2 2023.

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Sales also witnessed a 7% increase, reaching $16.1bn compared to $15.0bn in the corresponding period of 2023.

When excluding the impact of foreign exchange, sales growth was even more impressive at 11%.

The oncology segment was a significant contributor to this growth, with sales of Keytruda, MSD’s cancer drug, growing by 16% to $7.3bn. Excluding the impact of foreign exchange, Keytruda’s sales saw a 21% increase.

Total vaccine sales reached $3.6bn in the second quarter of 2024, up from $3.557bn in the same quarter of the previous year.

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In the first quarter, vaccine sales were reported to be $3.4bn.

MSD has announced its full-year 2024 financial outlook, raising its expected worldwide sales range to be between $63.4bn and $64.4bn.

The company also expects non-GAAP EPS [earnings per share] to be between $7.94 and $8.04.

This outlook includes the consideration of a one-time charge of $1.3bn, or $0.51 per share, for the EyeBio acquisition.

MSD CEO and chairman Robert Davis stated: “Our business is demonstrating strong momentum as we exit the first half of the year.

“Through excellent scientific, commercial and operational execution, we’re achieving significant milestones for our company and for patients, including the launch of WINREVAIR. I am proud of our dedicated teams around the world that are working tirelessly to advance our deep pipeline as we continue delivering innovation that solves unmet medical needs.”

In April 2024, the company posted a significant increase in net income attributable to shareholders, reaching $4.76bn in Q1 2024, a 69% rise from $2.82bn in the first quarter of the previous year.