Merck’s adjusted revenue guidance shows product mix matters during COVID-19

Merck’s heavy reliance on hospital-administered products, vaccines and animal health has left it more exposed than its pharma peers to the commercial impacts of the COVID-19 pandemic.

The company cut its 2020 revenue guidance by $2.5 billion with expectations now coming in at $46.1-$48.1 billion, citing a 70% decline in patient well-visits and elective surgeries, plus smaller drops in urgent surgeries and even new oncology patient visits. ...