**Merck & Co. Reports Fiscal Year 2025 Results**

Merck & Co., Inc. (NYSE: MRK) reported worldwide sales of $65.01 billion for the fiscal year 2025, a 1% increase compared to $64.17 billion in 2024, or a 2% increase excluding the unfavorable impact of foreign exchange. The Pharmaceutical segment contributed $58.14 billion to total sales, while the Animal Health segment generated $6.35 billion. Net income attributable to Merck & Co., Inc. was $18.25 billion, or $7.28 per share, compared to $17.12 billion, or $6.74 per share, in the previous year. Non-GAAP net income was $22.51 billion, or $8.98 per share, compared to $19.44 billion, or $7.65 per share, in 2024.

The company's growth was primarily driven by its oncology franchise, particularly Keytruda, which saw sales of $31.68 billion, a 7% increase from the previous year. Winrevair, a treatment for pulmonary arterial hypertension, also contributed significantly with sales reaching $1.44 billion, compared to $419 million in 2024. Animal Health also experienced growth, with livestock product sales increasing by 13% to $3.90 billion and companion animal product sales increasing by 2% to $2.46 billion. These gains were partially offset by declines in vaccine sales, particularly Gardasil/Gardasil 9, which decreased by 39% to $5.23 billion, and lower sales of Lagevrio, an antiviral COVID-19 medicine, which decreased by 61% to $380 million.

Merck continued to invest in its pipeline through strategic acquisitions and collaborations. The company acquired Cidara Therapeutics, Inc. for $9.2 billion, gaining access to MK-1406, a long-acting antiviral for influenza. It also acquired Verona Pharma plc for $10.4 billion, adding Ohtuvayre, a COPD treatment, to its portfolio. Additionally, Merck entered into a licensing agreement with Jiangsu Hengrui Pharmaceuticals Co., Ltd. for MK-7262, an investigational oral small molecule Lipoprotein(a) inhibitor, for an upfront payment of $200 million. These strategic moves are aimed at diversifying Merck's product offerings and driving future growth.

As of December 31, 2025, Merck had approximately 75,000 employees worldwide. The company is facing increasing pricing pressure from managed care organizations and government agencies, which could negatively affect sales and profit margins. The company is also subject to evolving and complex tax laws, which may result in additional liabilities that may affect results of operations and financial condition. The company anticipates a significant decline in sales of Januvia and Janumet in the first half of 2026 reflecting the impact of government price setting and subsequently, following loss of market exclusivity in May 2026, the Company anticipates it will lose nearly all U.S. sales of Januvia and Janumet. Also, the Company expects that sales of Keytruda will be materially negatively impacted by biosimilar competition between 2028 and 2029.

About Merck & Co., Inc.

Merck & Co., Inc. is a global healthcare company specializing in prescription medicines, biologics, vaccines, and animal health products. Its core segments include Pharmaceutical and Animal Health, serving markets worldwide with therapies for cancer, infectious diseases, vaccines, and veterinary care. The company emphasizes innovation, research, and strategic alliances to maintain competitive advantage in highly regulated, competitive markets.

This description was generated via AI from an annual report. Updated 8 months ago.

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