(Yicai) Feb. 5 -- US pharmaceutical giant Merck has suspended shipments to China of its blockbuster human papillomavirus vaccine Gardasil, citing reduced demand.

“Merck anticipates full-year 2025 sales to be between USD64.1 billion and USD65.6 billion,” the company said in its annual financial statement on Feb. 3. “This sales range reflects a decision to temporarily pause shipments of Gardasil into China beginning February through at least mid-year.”

Following the worse-than-expected sales prediction, Merck’s shares [NYSE: MRK] plunged 9.1 percent to USD90.74 in New York yesterday.

Less than a month ago, the China National Medical Products Administration approved several new indications for Gardasil, including its use in men aged nine to 26 years for the prevention of anal cancer, genital warts, and anal intraepithelial neoplasia caused by HPV. It became the first HPV jab approved for men in China.

Gardasil is one of Merck’s key growth drivers, along with oncology drug Keytruda. But sales of the vaccine sank 17 percent year on year to USD1.6 billion in the fourth quarter of last year, mainly because of reduced demand in China, which was partially offset by higher demand in other international markets such as Japan, the company noted.

Merck’s global sales rose 7 percent to USD15.6 billion in the three months ended Dec. 31 as the decline in Gardasil sales was offset by a 19 percent jump in those of Keytruda to USD7.8 billion.

Editor: Futura Costaglione