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Merck & Co Inc
XMUN:6MK

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Merck & Co Inc
XMUN:6MK
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Price: 99.64 EUR -1.23% Market Closed
Market Cap: €252.5B

Merck & Co Inc
Investor Relations

Merck & Co. is a global drug company that makes prescription medicines, vaccines, and animal health products. Its best-known business is developing and selling branded drugs for cancer, infectious disease, diabetes, and other serious conditions. It also sells vaccines and medicines used by veterinarians and livestock producers. The company makes money by selling these products to hospitals, pharmacies, doctors’ offices, governments, and animal health distributors. In human health, a large part of the business depends on patented medicines that are approved by regulators and sold through the healthcare system. In animal health, it earns revenue from products that help prevent disease and treat animals on farms and in companion-animal care. Merck stands out because it is not a generic drug maker or a healthcare insurer. It is a research-driven company that spends years developing medicines, getting them approved, and protecting them with patents. That means its business depends on scientific success, regulatory approval, and the ability to keep key drugs and vaccines on the market for many years.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
Apr 30, 2026
AI Summary
Q1 2026

Revenue: Merck reported first-quarter revenue of $16.3 billion, up 5% year over year, with growth led by oncology, animal health, and new product launches.

Guidance: The company narrowed and raised full-year 2026 revenue and EPS guidance, now expecting revenue of $65.8 billion to $67.0 billion and EPS of $5.04 to $5.16.

Keytruda: KEYTRUDA family sales rose 8% to $8.0 billion, helped by strong demand in metastatic disease and earlier-stage cancers, though U.S. growth was boosted by about $250 million from purchase timing.

Pipeline: Merck highlighted multiple regulatory and clinical milestones, including approval of IDVYNSO, priority review for I-DXd, and progress for WELIREG, WINREVAIR, ENFLONSIA, and ophthalmology assets.

Deal activity: Management defended the planned Terns acquisition and said business development remains a priority, with a typical deal size sweet spot of $1 billion to $15 billion.

AI and structure: Merck announced a new commercial operating model and a multiyear Google Cloud partnership to expand AI and agentic capabilities across the company.

Headwinds: GARDASIL sales fell 22% on weaker demand in China and Japan, and OHTUVAYRE was hurt by CMS reimbursement changes and Medicare deductible resets.

Key Financials
Revenue
$16.3 billion
KEYTRUDA family sales
$8.0 billion
KEYTRUDA QLEX sales
$128 million
WELIREG sales
$199 million
GARDASIL sales
$1.1 billion
CAPVAXIVE sales
$142 million
WINREVAIR sales
$525 million
OHTUVAYRE sales
$131 million
Gross margin
81.9%
Operating expenses
$15.2 billion
Other expense
$318 million
Tax rate
negative 43.5%
EPS
loss of $1.28 per share
Cidara charge impact
$9 billion
Cidara EPS impact
negative $3.62 per share
Terns acquisition R&D charge
approximately $5.8 billion
Terns EPS impact
approximately $2.35 per share
Terns financing and investment EPS impact
approximately $0.12
Share repurchases
approximately $3 billion
Earnings Call Recording
Other Earnings Calls

Management

Mr. Robert M. Davis J.D.
Chairman, President & CEO

Robert M. Davis is the Chairman and Chief Executive Officer (CEO) of Merck & Co., Inc., also known as MSD outside the United States and Canada. He was appointed as the company’s CEO in July 2021, succeeding Kenneth Frazier. Davis has been with Merck since 2014, initially joining the company as Chief Financial Officer (CFO). Before his tenure at Merck, Davis had a distinguished career at Baxter International Inc., where he held several senior roles, including Corporate Vice President and President of Baxter’s Medical Products business. With his extensive experience in both finance and healthcare, Davis has played a significant role in driving Merck's strategic initiatives, focusing on innovation and expanding the company’s reach in oncology, vaccines, and other key therapeutic areas. Robert M. Davis holds a Juris Doctor (J.D.) degree from Northwestern University School of Law, an MBA from Northwestern University’s Kellogg School of Management, and a Bachelor of Science degree in Finance from Miami University. His educational background and diverse experience in the healthcare industry have made him a pivotal leader at Merck, guiding the company through various growth phases and significant achievements.

Mr. Richard R. DeLuca Jr.
Executive VP & President of Merck Animal Health

Richard R. DeLuca Jr. is a notable executive who has held significant positions within Merck & Co., Inc., a leading global biopharmaceutical company. He is best recognized for his role as the Executive Vice President and President of Merck Animal Health. In this capacity, DeLuca Jr. has been responsible for overseeing the company's animal health division, which is a vital part of Merck's overall operations, focused on the research, development, manufacturing, and marketing of veterinary medicines and services. DeLuca Jr. joined Merck in 2011, bringing with him a wealth of experience in the pharmaceutical and life sciences industries. Under his leadership, Merck Animal Health has expanded its product portfolio and enhanced its commitment to innovation, sustainability, and addressing the needs of both livestock and companion animals. His leadership style emphasizes strategic growth, operational efficiency, and fostering a culture of collaboration, which has contributed to the division's success. Richard R. DeLuca Jr. is credited with driving growth and value creation within Merck’s animal health sector, ensuring the company remains at the forefront of technological advancements and market demands.

Dr. Dean Y. Li M.D., Ph.D.
Executive VP & President of Merck Research Laboratories

Dr. Dean Y. Li is an accomplished physician-scientist and business executive currently serving as the Executive Vice President and President of Merck Research Laboratories at Merck & Co., Inc. He has a distinguished career in both academia and the pharmaceutical industry. Dr. Li earned his M.D. and Ph.D. from Washington University in St. Louis, where he also completed his residency in internal medicine and a fellowship in cardiology. He went on to become a respected figure at University of Utah Health, where he held numerous leadership roles including Chief Scientific Officer and Vice Dean for Research. His academic work primarily focused on cardiovascular research and translational medicine, garnering him significant recognition in his field. Before joining Merck, Dr. Li's career was marked by a robust combination of scientific innovation and leadership. At Merck, he has continued to exemplify these qualities, overseeing the company's vast research operations and contributing to its strategic direction in drug discovery and development. His work is pivotal in steering the company’s efforts in addressing various challenging health conditions through innovative medicine.

Mr. Dalton E. Smart III
Senior VP of Finance, Principal Accounting Officer & Global Controller
No Bio Available
Mr. David Michael Williams
Executive VP and Chief Information & Digital Officer

As of the latest available information, there is no prominent executive or officer by the name of David Michael Williams associated with Merck & Co., Inc. It's possible that he may not be a publicly recognized senior executive or does not hold a widely publicized position within the company. If more context or details become available, it might help in providing a more accurate biography. If you are looking for someone else or have more context, please provide additional details.

Mr. Peter Dannenbaum
Vice President of Investor Relations

Peter Dannenbaum is recognized as a prominent executive at Merck & Co., Inc., a leading global biopharmaceutical company. Serving as the Vice President of Investor Relations, Dannenbaum plays a crucial role in managing communication between the company and the investment community. His responsibilities typically involve overseeing financial communications and ensuring that investors, analysts, and stakeholders have a clear understanding of Merck's strategic direction, financial performance, and market positioning. Before joining Merck, Dannenbaum had a successful career on Wall Street, which equipped him with a deep understanding of the financial markets and investor expectations. His background in finance and business, combined with his expertise in investor relations, contributes significantly to Merck's efforts to maintain transparency and strong relationships with its investors. Dannenbaum's work is vital in helping Merck navigate the complexities of the pharmaceutical industry, ensuring that the company's value propositions are effectively communicated and that it upholds its reputation among the investment community.

Ms. Cristal N. Downing
Executive VP and Chief Communications & Public Affairs Officer

Cristal N. Downing is an accomplished executive who serves as the Chief Communications & Public Affairs Officer at Merck & Co., Inc. In her role, she is responsible for overseeing and coordinating the company's communications and public affairs strategies to support business objectives and enhance corporate reputation. Downing plays a key role in managing internal and external communications, media relations, corporate branding, and corporate social responsibility initiatives. With her leadership in strategic communications, she helps to align Merck's messaging with its mission of improving global health and advancing medical innovation. Prior to joining Merck, Downing held various leadership positions in communication and public affairs within the healthcare sector, demonstrating a strong track record in managing complex communications challenges and driving impactful engagement strategies.

Ms. Betty D. Larson
Executive VP & Chief Human Resources Officer
No Bio Available
Mr. Johannes J. Oosthuizen
Senior VP & President Merck U.S. Human Health

Johannes J. Oosthuizen is an accomplished executive known for his extensive experience in the pharmaceutical industry. He serves as the Executive Vice President and Chief Commercial Officer at Merck & Co., Inc., a leading global healthcare company. Mr. Oosthuizen is responsible for overseeing Merck's commercial operations and strategies, which include sales and marketing efforts across various therapeutic areas. With a career spanning several decades, Oosthuizen has been instrumental in driving growth and ensuring the successful launch and commercialization of key products within Merck’s portfolio. He is recognized for his strategic vision, leadership skills, and ability to navigate complex market environments to optimize business performance. Before joining Merck, Mr. Oosthuizen held significant roles in other major pharmaceutical companies, where he gained valuable insights and experience that he has brought to his current position. His expertise in commercial operations and his focus on innovation and customer-centric strategies have greatly contributed to Merck's status as a leader in the healthcare industry.

Dr. Eric H. Rubin M.D.
Senior Vice President of Global Clinical Oncology & Early-stage Oncology

Dr. Eric H. Rubin, M.D., is a distinguished medical professional and executive known for his significant contributions to the pharmaceutical industry. As of his role at Merck & Co., Inc., he serves as Senior Vice President of Global Clinical Development in the area of oncology. Dr. Rubin is responsible for overseeing the clinical development of the company’s oncology products, a critical area for Merck, renowned for its innovative cancer therapies. Before joining Merck, Dr. Rubin had an illustrious career that combined both academic and industry experience. He has held academic positions, contributing to cancer research and fostering the development of future physicians and researchers. Throughout his career, Dr. Rubin has been dedicated to advancing the understanding and treatment of cancer. He has published extensively in peer-reviewed journals and is recognized for his work on novel cancer therapies, including immuno-oncology. His leadership at Merck has been instrumental in the development and approval of new cancer treatments, helping to establish the company as a leader in the field of oncology. His expertise and leadership have been pivotal in driving Merck's oncology pipeline, with a strong focus on developing new therapies that can significantly impact patients' lives. Dr. Rubin's work has had a wide-ranging impact on the pharmaceutical industry and cancer treatment, underscoring his role as a leader in the field.

Contacts

Address
NEW JERSEY
Kenilworth
2000 Galloping Hill Rd
Contacts
+19087404000.0
www.merck.com
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