Merck halts Gardasil shipments to China, lowers 2025 outlook
Merck has halted shipments of its HPV vaccine, Gardasil, to China until at least mid-2025 due to weak consumer spending. This decision has negatively impacted the company's full-year forecast and caused an 11% drop in its stock price. Gardasil sales have declined significantly since mid-2024, leading Merck to withdraw its long-term sales target of $11 billion by 2030. The company reported fourth-quarter sales of $1.55 billion for Gardasil, falling short of expectations. Despite the setback with Gardasil, Merck's sales of Keytruda, its top-selling drug, exceeded forecasts. Overall revenue rose to $15.6 billion, slightly above analyst expectations, and the company reported a profit of $4.37 billion for the quarter.