Merck Beats Sales Estimates Amid Demand for Newer Drugs

Merck & Co. reported first-quarter sales that beat Wall Street estimates as demand ramps up for newer products like Winrevair and an injectable version of cancer blockbuster Keytruda.

Sales in the quarter were $16.3 billion, Merck said in a statement on Thursday, topping the average analyst estimate of $15.8 billion. On an adjusted basis, Merck lost $1.28 a share after taking into account charges related to its $9.2 billion acquisition of Cidara Therapeutics Inc.