Merck to cut jobs and costs as demand for Gardasil in China remains weak

Merck & Co revealed job and cost reductions to save $3 billion annually. This decision followed lower second-quarter results. Weak demand for its Gardasil vaccine in China impacted earnings. The company aims to redirect investments towards new growth areas. Keytruda sales rose, but Gardasil sales declined. Merck narrowed its full-year revenue forecast. The company also expects earnings of $8.