Merck Sharp and Dohme reports modest revenue growth in Q2 2016

Merck Sharp and Dohme has announced its financial results for the second quarter of 2016, during which it experienced modest increase in revenues.

The company's revenue total for the three months came to $9.8 billion (7.4 billion pounds), up by one percent year over year. This figure included a two percent negative impact attributed to foreign exchange rate trends.

During the quarter, the firm was able to advance its Keytruda development programme and continue the global rollouts for both this drug and Zepatier. Both assets are expected to be of great strategic importance in the coming months.

It also completed its acquisition of Afferent Pharmaceuticals and announced a new collaboration with Moderna Therapeutics to develop and commercialise personalised cancer vaccines based on Keytruda.

Following the publication of these results, Merck has narrowed its full-year 2016 revenue range to between $39.1 billion and $40.1 billion, including an approximate two percent negative impact from foreign exchange at current rates.

Kenneth Frazier, chairman and chief executive officer at Merck Sharp and Dohme, said: "We remain committed to advancing our pipeline, delivering a balanced and differentiated portfolio, and achieving long-term sustainable growth."