UPDATE: Forbes Offers Specific Guesses — For Tomorrow’s Q2 2015 Results

b3330-mrk-csfb-06-15UPDATED — 07.26.15 @ 1 PM EDT: As to the predicted numbers, here is Forbes on it all — “. . .Analysts are forecasting lower quarterly profits compared with last year’s, at $0.80 a share from sales of $9.78 billion, partially because of its 58% forex exposure. In the year-ago period, MRK made per-share earnings of $0.85 and $10.9 billion in revenue. However, Wall Street hasn’t been great at nailing MRK. If history repeats itself, Merck’s results could beat expectations like it has in 10 of the last 11 quarters. . . .” Now we wait. End, updated portion.

To be sure, we will have to wait and see what the release on Tuesday morning harbors, but I’d not expect a nine per cent downdraft, at the sales line, due to currencies, as was seen last week at Bristol Myers Squibb. I think Merck has more hedging in place than BMS, and a better “natural” mix of geographies; and product-margins (each of which ought to dampen currency headwinds somewhat, at Merck).

What I see as one of the most hopeful moments, likely to be echoed on the Kenilworth call, Tuesday, is the notion that (thus far, at least) Opdivo® (and by implication, Keytruda®) won’t see strong payer-side pressure to agree to long term contracts, with significant price discounts, in any cancer set — anytime in the near (24 month) future. And this is potentially a $35 billion market opportunity, all in.

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