Global healthcare giant Merck & Co., Inc. (MRK) recently reported its fiscal third-quarter results that exceeded expectations, driven by robust demand for its COVID-19 treatment. Sales of molnupiravir, the COVID-19 antiviral pill marketed as Lagevrio, surged by 47% to reach $640 million during the quarter, significantly surpassing Wall Street's estimates of $120 million.
In the previous quarter, MRK had anticipated that the bulk of Lagevrio's 2023 sales would be realized in the first half of the year, making the subsequent surge in demand. Consequently, MRK has revised its full-year sales projection for Lagevrio to an impressive $1.3 billion.
