Merck Stock Slides on Lowered Adjusted EPS Guidance

Shares of Merck & Co. (MRK) tumbled Tuesday aft nan pharmaceutical elephantine trim its full-year adjusted profit guidance.

The shaper of nan crab supplier Keytruda now expects full-year adjusted earnings per stock (EPS) of betwixt $7.94 and $8.04, down from its anterior guidance of $8.53 to $8.65. The alteration reflects nan effect from a one-time complaint of astir $1.3 billion, aliases $0.51 per share, for nan acquisition of EyeBio. 

Merck Beats Q2 Revenue, Profit Estimates

In nan 2nd quarter, Merck posted EPS of $2.14 connected gross of $16.11 billion, topping analysts' expectations of $2.05 and $15.88 billion, per Visible Alpha.

The company's pharmaceutical limb delivered $14.41 cardinal successful revenue, up 7% from a twelvemonth ago, led by its flagship crab supplier Keytruda, which saw income emergence 16% to $7.27 billion. Winrevair, a pulmonary arterial hypertension supplier approved by nan Food and Drug Administration (FDA) successful March, saw income of $70 million. 

Shares of Merck sank much than 9% to $115.91 arsenic of 11:30 a.m. ET Tuesday.