According to CNBC, Merck beat second-quarter estimates and raised its full-year revenue outlook after new products posted strong growth, but it cut profit guidance because of charges tied to its acquisitions of Terns Pharmaceuticals and Cidara Therapeutics. Merck now expects 2026 revenue of $66.3 billion to $67.3 billion, up from a prior range of $65.8 billion to $67 billion, and adjusted earnings of $2.66 to $2.76 per share, down from $5.04 to $5.16 per share after including a $5.7 billion charge related to Terns and a $9 billion charge related to Cidara.

The company reported a second-quarter adjusted loss of 13 cents per share versus 27 cents expected, on revenue of $16.61 billion versus $16.36 billion expected. Net loss came to $1.34 billion, or 54 cents per share, compared with net income of $4.43 billion, or $1.76 per share, a year earlier. Keytruda sales rose 5% to $8.37 billion, including $463 million from the injectable version, while Winrevair sales climbed 75% to $588 million and Capvaxive sales increased 42% to $184 million. Merck's animal health business posted $1.78 billion in sales, above analysts' estimates.