(Reuters) - Merck & Co Inc (MRK.N) said on Tuesday it intends to ramp up production of its top-selling vaccine Gardasil in 2023 and warned of a slowdown in revenue growth next year as demand for the therapy outpaces supply.
“We expect tempered growth rates for the product versus what we reported for the last couple of years,” Chief Financial Officer Robert Davis said on a conference call with analysts.
The company said it sees strong underlying demand for Gardasil, Merck’s vaccine to prevent cancer caused by human papillomavirus, and significant growth potential outside the United States.
“We are increasing our production from existing plants... anticipate additional supply coming on board significantly in 2023,” Chief Commercial Officer Frank Clyburn said.
Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Shinjini Ganguli