Bengaluru — Merck & Co on Tuesday forecast 2026 sales and profits below Wall Street estimates, as the company expects the imminent loss of patent exclusivity on diabetes drug Januvia and other medicines to hit harder than analysts are projecting.
The weaker-than-anticipated outlook overshadowed fourth-quarter results of the US drugmaker that beat profit and sales expectations, driven by strong demand for its blockbuster cancer immunotherapy Keytruda.
The company expects 2026 revenue of $65.5bn to $67bn, with the higher end of the range falling short of the average analyst estimate of $67.6bn, according to LSEG data. Reuters
China boosts copper reserves, eyes commercial stockpiling
Beijing — China will expand its copper strategic reserve, an official from the state-backed China Nonferrous Metals Industry Association said on Tuesday.
The remarks were made by Duan Shaofu, the deputy secretary-general of the association, at a press conference, according to Shanghai Securities News. China will also explore building a commercial stockpiling system, with state-owned companies leading the commercial trial.
China will also study including copper concentrates in its strategic reserves. Reuters
Italy-India partnership to enhance helicopter production
Gdansk — Italy’s Leonardo and India’s Adani Defence & Aerospace have signed a preliminary agreement to launch a helicopter manufacturing ecosystem in India, the companies said in a joint statement on Tuesday.
The memorandum of understanding concerns Leonardo’s AW169M and AW109 TrekkerM models in particular and aims to address the increasing demand and new military requirements in India, though it could potentially be extended to civil aviation applications.
Adani Defence & Aerospace’s CEO Ashish Rajvanshi said the Indian Armed Forces project demand for more than 1,000 helicopters in the coming decade. Reuters
Western digital invests in share buybacks amid chip demand
Bengaluru — Western Digital said on Tuesday its board has approved $4 billion more for share repurchases, as demand for its memory chips used in artificial intelligence servers surges.
Its shares rose about 5% in premarket trading, adding to a 57% jump this year. The shares had more than tripled in value last year.
A global shortage of memory chips has intensified competition among AI and consumer electronics companies for limited supplies, driving up prices and extending lead times as manufacturers struggle to ramp up capacity.
The data storage company had about $484m remaining for buybacks as of Monday under its prior authorisation of $2bn in May last year. Reuters
Tanzania plans 10% spending increase as foreign support fades
Dar es Salaam — Tanzania expects to raise its overall spending by 10% to 61.93-trillion shillings ($24.29bn) next fiscal year, its finance minister Khamis Mussa Omar said.
The East African country faces financial pressure to fund development projects due to the withdrawal of budget support from partners including the U.S. and the European Union.
President Samia Suluhu Hassan said in November that Tanzania may struggle to secure funding from international institutions due to its tarnished global reputation.
Omar said in a budget guidelines document seen by Reuters on Tuesday that the government expects to borrow 15.24-trillion shillings in the fiscal year starting in July, up from 15-trillion shillings in the current fiscal year. Reuters
Capri Holdings adjusts strategy amid tariff and demand pressures
Bengaluru — Capri Holdings on Tuesday raised its annual revenue and profit forecast, banking on steady demand for apparel and handbags across its Jimmy Choo and Michael Kors brands as it engineers a turnaround.
The company has been working to stabilise its core portfolio after divesting Versace to Prada late last year, as it contends with margin pressures from tariffs and uneven demand across regions.
Capri has also been working to nudge its full-price levels slightly lower to widen its customer base, while pulling back inventory from off-price channels to protect its margins.
In the third quarter, Jimmy Choo logged a 5% jump, but the larger Michael Kors label remained under pressure, with sales declining 5.6%.
The company had warned of an unmitigated tariff impact of about $85m in fiscal 2026, as it relies on imports from Vietnam and China, countries that face steep duties from the US.
Reuters
