Pharmaceutical giant (NYSE: MRK) has delivered excellent returns to its shareholders over the past 12 months, as last year's downturn did little to slow the drugmaker. The company's solid financial results are partly driving its recent performance. However, it isn't too late to invest in Merck's stock -- far from it. It can still deliver market-beating returns from here on out.
Let's consider three reasons why.
Merck's top-selling medicine for years has been Keytruda. The cancer drug has racked up dozens of indications and continues to improve its sales. In the second quarter, Merck's total revenue came in at $15 billion, a 3% year-over-year increase. Excluding the company's COVID-19 medicine, Lagevrio, Merck's sales jumped by a more impressive 11% year over year.
Source Fool.com