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Merck.com

Conducting business with the highest standards of ethics and integrity, maintaining responsibility to all stakeholders including employees, patients, customers, distributors, suppliers, shareholders, and communities worldwide.

Excellence through Integrity

Dedication to the highest standard of scientific excellence and innovation, with research guided by commitment to improving health and quality of life through groundbreaking medicines and vaccines.

Scientific Innovation

Creating a culture built on mutual respect, inclusion, and accountability that values diverse backgrounds, experiences, and perspectives to drive better outcomes for patients and employees.

Diversity and Inclusion

Maintaining unwavering focus on patients and their needs, ensuring all research, development, and commercialization decisions prioritize improving patient outcomes and access to innovative therapies.

Patient-Centered Focus

Working together with knowledge, imagination, skill, and teamwork to create an environment of mutual respect where diverse talents combine to solve complex healthcare challenges.

Collaboration and Teamwork

Recognizing and rewarding dedication and performance while providing mentoring, leadership development programs, award-winning learning resources, and tuition assistance to support professional growth.

Employee Development

Supporting comprehensive employee health and wellbeing through four pillars (physical, mental, financial, social) and flexible work arrangements including global hybrid working model launched over the past two years.

Wellbeing and Work-Life Balance

Merck & Co., Inc. (known as MSD outside the United States and Canada) is a leading global biopharmaceutical company that discovers, develops, manufactures, and markets medicines and vaccines. With $64.2 billion in fiscal 2024 revenue, Merck delivers innovative health solutions through flagship products including Keytruda (cancer immunotherapy), Gardasil (HPV vaccine), and an expanding pipeline addressing oncology, vaccines, cardiovascular, diabetes, and infectious diseases.

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Robert M. Davis

Chairman and Chief Executive Officer

Richard R. DeLuca, Jr.

Executive Vice President and President, Merck Animal Health

Cristal N. Downing

Executive Vice President and Chief Communications & Public Affairs Officer

Dean Y. Li, M.D., Ph.D.

Executive Vice President and President, Merck Research Laboratories

Merck & Co., Inc. is an American multinational pharmaceutical company headquartered in Rahway, New Jersey. The company does business as Merck Sharp & Dohme or MSD outside the United States and Canada. The company is ranked fifth on the list of largest biomedical companies by revenue. The company's revenues are primarily from cancer treatments, vaccines, and animal health products. In 2024, 46% of the company's revenue, or $29.5 billion, came from sales of Keytruda, a PD-1 inhibitor used to treat various types of cancers, and 13% of the company's revenue, or $8.6 billion, came from sales of Gardasil, an HPV vaccine. In addition, 9% of the company's revenue, or $5.8 billion, came from the sales of animal health products. The company is ranked 65th on the Fortune 500 and 76th on the Forbes Global 2000.

https://en.wikipedia.org/wiki/Merck_%26_Co.

American multinational pharmaceutical company

The world's best-selling pharmaceutical product with $29.482 billion in sales in 2024 (46% of Merck's total revenue), representing 18% year-over-year growth. Keytruda is a PD-1 inhibitor that unleashes the patient's immune system to fight cancer, approved for treatment of more than 20 different cancer types across various stages including melanoma, lung cancer, head and neck cancer, bladder cancer, and many others. A subcutaneous injection formulation, Keytruda Qlex, was approved in September 2025. Keytruda continues expanding into earlier-stage cancer indications through ongoing clinical development.

Keytruda (pembrolizumab)

Human papillomavirus (HPV) vaccine that generated $8.583 billion in sales in 2024, a 3% decrease from the previous year primarily due to reduced demand in China amid competition from domestic nine-valent vaccines. Merck halted shipments of Gardasil into China beginning in February 2025 through at least mid-2025. Despite challenges in China, Gardasil remains the dominant HPV vaccine globally, preventing cervical cancer, genital warts, and other HPV-related cancers.

Gardasil/Gardasil 9 (HPV Vaccine)

Type 2 diabetes treatment that generated $1.33 billion in sales in 2024, representing a 39.1% decline due to Medicare drug price negotiations and generic competition. Januvia was one of 10 drugs subject to the first round of Medicare drug price negotiations. Despite declining sales, Januvia remains an important treatment option for millions of patients with type 2 diabetes.

Januvia (sitagliptin)

First-in-class therapy for pulmonary arterial hypertension (PAH) approved by the FDA in March 2024. Winrevair generated $419 million in revenue in its first year following launch, with $149 million in Q3 2024 alone. Acquired through the $11 billion purchase of Acceleron Pharma in 2021, Winrevair represents a key growth driver as Merck diversifies beyond Keytruda.

Winrevair (sotatercept)

Pneumococcal conjugate vaccine approved by the FDA in June 2024 and recommended by the CDC's ACIP for adults 50 years and older. CAPVAXIVE addresses a significant market opportunity in pneumococcal disease prevention, competing with established vaccines while offering broader serotype coverage. The vaccine represents Merck's entry into the adult pneumococcal vaccine market.

CAPVAXIVE (21-valent pneumococcal vaccine)

Respiratory syncytial virus (RSV) preventative therapy approved by the FDA in June 2025. Enflonsia expands Merck's vaccine portfolio into the growing RSV prevention market for vulnerable populations. The approval positions Merck to compete with other RSV preventatives for infants and elderly adults at risk of severe respiratory complications.

Enflonsia (clesrovimab)

First-in-class selective dual inhibitor of phosphodiesterase 3 and 4 (PDE3 and PDE4) approved by the FDA in June 2024 for maintenance treatment of chronic obstructive pulmonary disease (COPD) in adult patients. Acquired through the $10 billion purchase of Verona Pharma completed in October 2025, Ohtuvayre is expected to drive growth into the next decade as a key component of Merck's post-Keytruda portfolio diversification strategy.

Ohtuvayre (ensifentrine)

Merck completed its acquisition of UK-based Verona Pharma for approximately $10 billion, with Verona becoming a wholly-owned subsidiary. The transaction brings Ohtuvayre (ensifentrine), a first-in-class selective dual inhibitor of PDE3 and PDE4 approved by the FDA in June 2024 for maintenance treatment of chronic obstructive pulmonary disease in adults. This represents Merck's largest acquisition since the $10.8 billion Prometheus Biosciences deal in 2023 and is expected to drive growth into the next decade as the company diversifies beyond Keytruda ahead of its 2028 patent expiration.

Merck Completes $10 Billion Acquisition of Verona Pharma, Gaining COPD Drug Ohtuvayre

Merck announced its pipeline includes more than 20 programs that the company predicts will earn over $35 billion in sales by the middle of the next decade, with the oncology pipeline alone expected to exceed $20 billion in value by the mid-2030s. This robust pipeline development, funded by over $35 billion in business development transactions since 2021, positions Merck to maintain leadership even as Keytruda faces patent expiration in 2028. The diversified portfolio spans cancer therapies, cardiovascular treatments, vaccines, and metabolic disorder medications.

Merck Touts 20 New 'Blockbuster' Drugs in Development with $50 Billion Potential

Merck reported fiscal 2024 revenue of $64.168 billion, a 7% increase year-over-year, with pharmaceutical segment revenue of $57.400 billion also growing 7%. Keytruda sales reached $29.482 billion (up 18%, excluding foreign exchange impact up 22%), accounting for approximately 46% of total company revenue. Gardasil sales totaled $8.583 billion despite a 3% decline attributed to China market challenges. New products Winrevair and CAPVAXIVE contributed to growth. The company provided fiscal 2025 guidance of $64-65.6 billion in sales with 7-9% organic growth excluding Gardasil China and FX.

Merck Announces Fourth-Quarter and Full-Year 2024 Results: $64.2 Billion Revenue

Merck announced it is pausing shipments of Gardasil HPV vaccine to China beginning in February 2025 and continuing through at least mid-2025 due to intense competition from domestic nine-valent vaccines and resulting price pressures. This decision significantly impacts Merck's 2025 revenue outlook, as China had been a major market for Gardasil. The company's fiscal 2025 guidance explicitly excludes Gardasil China sales from growth calculations, projecting 7-9% organic growth when excluding both Gardasil China and foreign exchange impacts.

Merck Halts Gardasil HPV Vaccine Shipments to China, Impacting 2025 Outlook

The U.S. Food and Drug Administration approved Enflonsia (clesrovimab), Merck's respiratory syncytial virus (RSV) preventative therapy, expanding the company's vaccine portfolio into the growing RSV prevention market. The approval positions Merck to compete for market share in protecting vulnerable populations including infants and elderly adults from severe RSV infections, complementing the company's established vaccine franchise alongside Gardasil and the newly launched CAPVAXIVE pneumococcal vaccine.

FDA Approves Merck's Enflonsia (clesrovimab) for RSV Prevention

The CDC's Advisory Committee on Immunization Practices voted to recommend Merck's CAPVAXIVE (21-valent pneumococcal conjugate vaccine) for adults 50 to 64 years of age, expanding upon the initial unanimous recommendation in June 2024 for adults 65 and older. This broadened age recommendation significantly increases the addressable market for CAPVAXIVE, positioning it to capture share in the multibillion-dollar adult pneumococcal vaccine market and compete with established vaccines from Pfizer and GSK.

Merck Wins CDC Recommendation for CAPVAXIVE Pneumococcal Vaccine in Adults 50+

The Population Health Alliance honored Merck with the Culture of Health and Wellbeing 2025 Award, recognizing the company's comprehensive approach to employee wellbeing organized around four pillars: physical, mental, financial, and social. This award highlights Merck's global hybrid working model, extensive benefits including health insurance in 40+ countries, pension plans, flexible work arrangements, fitness resources, mental health support, and INSPIRE recognition program that creates a culture of appreciation and supports over tens of thousands of employees worldwide.

Merck Awarded 2025 PHA Culture of Health and Wellbeing Award

Alice Pregnancy Calculation

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Merck &amp; Co., Inc., Rahway, N.J., USA Announces Fourth-Quarter and Full-Year 2025 Financial Results; Highlights Progress Advancing Broad, Diverse Pipeline

MRK | Merck &amp; Co., Inc., Rahway, N.J., USA Announces Fourth-Quarter and Full-Year 2025 Financial Results; Highlights Progress Advancing Broad, Diverse Pipeline

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Merck & Co., Inc.

The Merck index. Ninth edition: Edited by Martha Windholz, Susan Budavari, Lorraine Y. Stroumtsos, and Margaret N. Fertig. Merck & Co., Rahway, New Jersey, 1976. xv + 1937 pp., $18.00

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Friedrich Jacob Merck, an apothecary, purchased the Engel-Apotheke (Angel Pharmacy) in Darmstadt, Germany. The pharmacy, called "At the Sign of the Angel" and located next to a castle moat, remained in the Merck family for generations and became the foundation of one of the world's oldest pharmaceutical companies.

German Origins - Engel-Apotheke Founded

Emanuel Merck, who had taken over the family pharmacy in 1816, began the manufacture of alkaloid substances "in bulk," transforming the business from a traditional apothecary into a pioneering pharmaceutical manufacturing company. This marked the beginning of industrial-scale pharmaceutical production in Germany.

Transformation to Drug Manufacturing

Theodore Weicker, a German-born Merck employee, established Merck & Co. in lower Manhattan with $200,000 from E. Merck. That year, George Merck, the 23-year-old grandson of Emanuel Merck, joined Weicker in New York to distribute fine chemicals throughout New York City and neighboring areas. Merck & Co. operated as the U.S. subsidiary of the Merck Group from 1891 to 1917.

Merck & Co. Founded in America

Following seizure as enemy property during World War I under the Trading with the Enemy Act, Merck & Co. was sold at public auction and acquired by George Merck with financing from Goldman Sachs, establishing it as an independent American company. This created the unusual situation where two separate Merck companies exist: Merck & Co. in the U.S./Canada and Merck KGaA in the rest of the world.

Independence Following World War I

Merck acquired Schering-Plough for $41 billion in a transformative merger that significantly expanded the company's pharmaceutical portfolio, research capabilities, and global commercial infrastructure. This acquisition positioned Merck for future growth and innovation across multiple therapeutic areas.

Schering-Plough Acquisition

The U.S. Food and Drug Administration approved Keytruda (pembrolizumab) for treatment of advanced melanoma, marking the beginning of Merck's transformation into an oncology powerhouse. Keytruda, a PD-1 inhibitor that unleashes the immune system to fight cancer, would become the world's best-selling pharmaceutical product.

Keytruda FDA Approval

Merck acquired Acceleron Pharma for $11 billion, gaining sotatercept (later branded Winrevair), a therapy for pulmonary arterial hypertension (PAH). Following FDA approval in March 2024, Winrevair generated $419 million in its first year, representing a key growth driver beyond Keytruda.

Acceleron Acquisition

Robert M. Davis became CEO and a member of the board of directors on July 1, 2021, succeeding prior leadership and bringing extensive experience from his roles as CFO (2014-2020) and President (2020-2021). He was elected Chairman of the Board in December 2022, consolidating leadership during a critical period of portfolio transformation.

Robert M. Davis Named CEO

Merck acquired Prometheus Biosciences for $10.8 billion to expand capabilities in inflammatory bowel disease (IBD), gaining a pipeline of immunology assets including investigational therapies for ulcerative colitis and Crohn's disease. This acquisition represented Merck's largest deal between 2021 and 2023.

Prometheus Biosciences Acquisition

The FDA approved Winrevair (sotatercept) for treatment of pulmonary arterial hypertension in March 2024. The drug generated $419 million in sales within its first year, demonstrating strong commercial uptake and validating the strategic rationale for the 2021 Acceleron acquisition.

Winrevair FDA Approval

The FDA approved and Merck launched CAPVAXIVE, a 21-valent pneumococcal conjugate vaccine. In October 2024, the CDC's Advisory Committee on Immunization Practices voted to recommend CAPVAXIVE for adults 50 to 64 years of age, expanding upon the initial June recommendation for adults 65 and older. This vaccine addresses a significant market opportunity in pneumococcal disease prevention.

CAPVAXIVE Pneumococcal Vaccine Launch

Merck reported fiscal 2024 revenue of $64.168 billion, marking a 7% year-over-year increase. Keytruda sales grew 18% to $29.482 billion, accounting for approximately 46% of total revenue. The pharmaceutical segment generated $57.400 billion with 7% growth, demonstrating continued strength despite competitive pressures.

Fiscal 2024 Results: $64.2 Billion Revenue

The FDA approved Enflonsia (clesrovimab) for respiratory syncytial virus (RSV) prevention in June 2025. This approval expands Merck's vaccine portfolio and positions the company to compete in the growing RSV prevention market for vulnerable populations including infants and elderly adults.

Enflonsia RSV Prevention Approval

Merck announced a definitive agreement to acquire UK-based Verona Pharma for approximately $10 billion ($107 per ADS), gaining Ohtuvayre (ensifentrine), a first-in-class COPD maintenance treatment approved by the FDA in June 2024. This represents Merck's first major acquisition of 2025 and largest since Prometheus Biosciences.

Verona Pharma Acquisition Announced

Merck completed the acquisition of Verona Pharma in October 2025, with Verona becoming a wholly-owned subsidiary. Ohtuvayre, a selective dual inhibitor of PDE3 and PDE4 for COPD maintenance treatment, is expected to drive significant growth into the next decade as Merck prepares for Keytruda's 2028 patent expiration.

Verona Pharma Acquisition Completed

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