-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师的观点总结如下：默克公司公布2026年第一季度销售额为163亿美元，同比增长5%，超出市场预期4.4亿美元，主要得益于制药业务同比增长5%至143亿美元以及动物保健业务的强劲表现（同比增长13%至18亿美元）。2026年第一季度非GAAP每股亏损1.28美元，而2025年第一季度预期每股盈利2.22美元，但仍超出市场预期0.19美元，这主要反映了90亿美元（每股3.62美元）的Cidara收购费用。我们认为，持续的商业增长势头将支持默克公司的战略转型。其中，KEYTRUDA在广泛适应症领域实现了80亿美元的销售额（同比增长12%），而WINREVAIR的收入几乎翻了一番，达到5.25亿美元，这得益于其在美国市场的加速增长和国际市场的扩张。管理层将2026年的销售额预期从655亿至670亿美元上调至658亿至670亿美元，并将非GAAP每股收益预期从5.00至5.15美元上调至5.04至5.16美元（包含汇率收益）。我们认为，即将完成的以67亿美元收购Terns的交易将通过TERN-701进一步增强默克公司的血液学产品线，这体现了公司在产品组合多元化战略中持续推进外部创新举措。
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Sectors
Sector Update: Consumer
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Market Chatter: FDA Panel Votes Against Benefits of AstraZeneca's Breast Cancer Drug
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