Merck & Co's Gerberding Adds Dose Of Reality To COVID-19 Debate
Industry Must Not Over-Promise and Under-Deliver
The US giant's chief patient officer and former head of the CDC, is proud of the "incredible collaboration" going on across the biopharmaceutical industry to tackle coronavirus but says "we have to be honest that we really don't understand this disease."
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Overall, the pharma lowered its 2020 revenue guidance by $2.5bn at the midpoint, but also says it will save about $400m on SG&A expenses. Pandemic impacts expected mainly in Q2, normal resumption in Q4.
Merck Sharp & Dohme will begin manufacturing licensed doses of Ervebo in Germany and will continue to send investigational vaccine doses to Democratic Republic of Congo.
The Swiss major's oncology business performed well in the third quarter with Kisqali sales catching the eye despite the specific problems that the pandemic has brought for breast cancer patients.