Investors will look for signs of growth beyond Keytruda when Merck reports third-quarter earnings on October 29. Keytruda currently accounts for more than half of the company's pharmaceutical sales, and its patent is set to expire in 2028.
Investors will watch sales of recently launched products, including QLEX, the subcutaneous version of Keytruda, and heart drug WINREVAIR. Growth in these products and other pipeline assets will help test management's claim that the loss of Keytruda's exclusivity will be manageable.
Analysts have lowered some near-term earnings estimates amid higher research and development spending, adding pressure on Merck's pipeline to deliver.