How did MRK's Q1 2024 EPS outperform forecasts?

Merck's Q1 2024 EPS outperformed forecasts due to several key factors: 1. **Strong Oncology Portfolio Performance**: Merck's oncology portfolio, particularly Keytruda, played a significant role in the company's performance. Keytruda saw a 19% increase in sales, reaching $7.8 billion. This growth was driven by strong global demand across various cancer indications. 2. **Winrevair's Contribution**: Merck's new product, Winrevair, contributed significantly to the quarter's sales, generating $200 million in revenue. This product's strong uptake reflects its successful market acceptance and highlights Merck's ability to bring innovative solutions to market. 3. **Animal Health Division's Positive Performance**: Merck's animal health division reported a 9% increase in sales, reaching $1.4 billion. This growth was primarily driven by higher pricing and increased demand for livestock products, as well as the acquisition of the Elanco aqua business. Overall, Merck's Q1 2024 performance exceeded expectations due to the robust performance of its oncology portfolio, the successful launch of new products like Winrevair, and the positive contribution from its animal health division. These factors collectively supported the company's financial results and outperformed market forecasts.