Merck narrows full-year sales guidance

Investing.com - Merck has narrowed its full-year sales forecast to a range of $64.5 billion to $65 billion, compared to a prior estimate for $64.3 billion to $65.3 billion.

Annual adjusted earnings per share is also seen at $8.93 to $8.98, versus a previous projection of $8.87 to $8.97.

In a statement, the drugmaker said the outlook reflected several items not included in its guidance in the past. This included a benefit from a collaboration with peer AstraZeneca, a more favorable estimated tax rate and lower tariff-related costs, all of which were partially offset by a negative impact related to its acquisition of U.K.-based Verona Pharma and foreign exchange effects.

Shares of Merck were lower by more than 1% in premarket U.S. trading on Thursday.

(This is a developing story. Please check back later for updates.)

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