Merck on Thursday reported third-quarter earnings and revenue that topped estimates as it saw strong demand for its cancer immunotherapy Keytruda.

The drugmaker also narrowed its full-year profit outlook to reflect lower estimated tariff costs, among other factors. Shares of Merck fell more than 2% in premarket trading Thursday.

Sales of Keytruda topped $8 billion for the first time in a quarter, rising 10% from the same period a year ago. Revenue from the drug of $8.14 billion came in just slightly under the $8.24 billion analysts were expecting, according to StreetAccount estimates.

The results come as Merck slashes $3 billion in costs by the end of 2027, and prepares to offset revenue losses from the upcoming patent expiration of Keytruda in 2028.

The pharmaceutical giant

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