See which workplaces made this year's list.

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Employees say:&nbsp;"Senior leadership at Merck is committed to establishing a healthy work environment, and many mid-level managers set a positive example. I believe most Merck employees genuinely strive to make a meaningful impact, both within the work environment and in patient care. A good example is the various mentorship programs I have attended. Despite mentoring me being outside of their job responsibilities and not accounted for in their annual performance reviews, all my mentors have done their best to support me and provide constructive feedback."

Best Large Workplaces in Biotechnology and Pharmaceuticals

The corporations on our annual list of the world's 500 largest companies combined to generate $41.7 trillion in revenue over the past year.

Fortune Global 500

Fortune partnered with Great Place to Work to analyze survey feedback representing nearly 145,000 U.S. employees.

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Employees say:"Merck is outstanding at seeing the employee as a "whole person," as a valuable resource to the company and its patients. Over the past several years, I have seen how the company has put concerted effort into ensuring that employees take time away, care for themselves, care for their families, etc. To get the best out of employees, the employees need to BE at their best. And I certainly appreciate how Merck has pivoted and built that flexibility into the rhythms, and now expectations, of employment. It truly is a great place to work. Thank you!"

35 Best Large Workplaces in New York

Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

Fortune 500

The top companies on our list have one thing in common: Staff largely trust leadership to see them as well-rounded people and reward them for a job well done.

Employees say: "I feel this company really invests in their people. I started out 25 years ago on a temporary assignment that was to last four days. As long as you have the drive and determination, your career at this company can make an impact and can grow significantly. They provide many tools and opportunities, but it is up to the employee to leverage them. I have a disabled husband who I have to take care of financially and physically, and this company has always been flexible and supportive, which allows me to maintain a great work-life balance and still efficiently get work done. They also support innovation, and I feel new ideas are encouraged and I have seen impact of change initiatives, by either myself, or that my team have brought up."

Fortune 100 Best Companies to Work For

Leaders in all industries rely more than ever on Big Tech—and appreciate the giants that deliver, at scale, without drama.

World's Most Admired Companies

Employees say:"This is more than a company, it is a huge family! Each person, regardless of their role, education, or experience is treated equally importantly. Since our first national meeting, I have repeatedly been acknowledged and never felt unimportant. This work environment is exceptional and each of us strives to work harder and more efficient as we feel appreciated and supported."

Best Large Workplaces for Parents

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Employees say:"Merck is outstanding at seeing the employee as a "whole person," as a valuable resource to the company and its patients. Over the past several years, I have seen how the Company has put concerted effort into ensuring that employees take time away, care for themselves, care for their families, etc. To get the best out of employees, the employees need to BE at their best. And I certainly appreciate how Merck has pivoted and built that flexibility into the rhythms. It truly is a great place to work. "

GPTW BioPharma Large 2024-Merck

Employees say:"The culture of support for the Employee Business Resource Groups creates a physical environment of care, community, and collaboration that fosters trust in both the EBRG teams as well as in the DE&amp;I journey within the greater company culture."

The corporations on our annual list posted aggregate revenues of $41 trillion for the second year in a row.

Industries included in the sector are insurance and managed care, medical products and facilities, pharmacy services, and pharmaceutical companies.

Fortune Sector Leaders: Health Care

Fortune partnered with Great Place to Work to analyze survey feedback representing nearly 140,000 U.S. employees.

GPTW-2024-New-York-Large-Merck

Employees say:"The main thing that drives me is the sense of ethics and always putting patients first, and not profits. This makes me proud to work here and confident that everyone at the company is driven by the same north."

The Fortune 500, in its 70th year in 2024, ranks the biggest U.S. companies by revenue.

Creating a more empathetic workplace looks like staying loyal to workers, emphasizing D&I initiatives, and paying well.

100 Best Companies 2024-Merck

New Jersey–based pharmaceutical company Merck climbed 36 spots from No. 98 on last year’s Best Companies list, with about 75% of the company’s employees worldwide undergoing a pay equity study as of 2021, which grew to 90% in 2022. That 2022 study, by the way, showed that Merck had achieved over 99% pay equity for both women and men and white and non-white employees in the U.S. &nbsp;Merck’s diversity programs have worked to address gender pay disparities and representation of women in the workplace. The company’s board of directors has more gender diversity than the industry norm, consisting of 46% female representation, while women make up 33% of Merck’s executives. Merck’s Women’s Leadership Program and Emerging Women’s Leadership program provide professional development training for women employees.

The 26th edition of the list shows how much esteem Big Tech giants command among other business leaders.

The 25th Fortune World’s Most Admired Companies list suggests that tech giants’ peers respect them as much as ever.

Building a culture of trust and transparency is essential to help everyone thrive, especially in rocky economic times.

100 BEST COMPANIES 2023-Merck

While Merck’s business focus revolves around using science to save lives and improve physical health, the company has made the mental health of its employees a priority as well. 
<ul> 
 	<li>Roughly 4,000 managers have been trained on how to connect their workers with well-being resources and educated on how to respond with compassion toward someone who may be struggling.</li> 
 	<li>Roughly 100 workers have completed Mental Health First Aid training and are available to help colleagues access mental health information and resources. It’s a grassroots project to reduce the stigma and raise awareness of mental health issues.</li> 
 	<li>Lyra, launched in 2021, ensures both employees and their families have quick access to high-quality evidence-based mental health care.</li> 
 	<li>Employees are provided with a membership to relaxation app Calm, as well as a flex day, time off to volunteer, and a generous parental leave program.</li> 
 	<li>“Merck shows that we are people, not just employees, with lives outside of work and honors that and promotes balancing work/home life,” said one worker.</li> 
</ul>

The corporations on our annual list of the world’s largest companies delivered a record $41 trillion in aggregate revenues.

Fortune partnered with Great Place to Work to analyze survey feedback representing nearly 100,000 U.S. employees.

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Employees say: 
 
"The organization operates with integrity on all levels. Merck is mission-driven and highly principled. Management genuinely cares about employees as individuals—promotes work-life balance and health and wellness, and celebrates diversity. My management listens and follows up on issues brought to their attention and consistently works to remove barriers in processes to help support me and my colleagues in my department to be successful in our jobs."

GPTW 2023 best workplaces pharma LARGE

Employees say: 
 
"The people who work here are amazing and inspiring—people push me to better myself and remind me of what is important and why we do what we do!"

The Fortune 500, in its 69th year in 2023, ranks the biggest U.S. companies by revenue.

F500-2023-069-Merck

The pharmaceutical firm that makes commonly used drugs, including HPV vaccine Gardasil, has held strong in its 69th year on the Fortune 500 list. 
<ul> 
 	<li>Merck surpassed expectations in 2022, bringing in $59.3 billion in revenue and $14.5 billion in profit.</li> 
 	<li>In April 2023, Merck announced plans to acquire Prometheus Biosciences for $10.8 billion. It is one of a few deals of its kind, but analysts say it could signal the beginning of a period of intense M&amp;A for biotech companies.</li> 
 	<li>Merck, along with Moderna, is making progress toward a cancer vaccine for melanoma patients. The immunotherapy drug Keytruda, Merck’s top seller, is part of the vaccine and was a strong growth driver.</li> 
 	<li>Sales of the COVID oral antiviral drug Lagevrio reported robust sales in 2022, but the company expects a significant slowdown in 2023.</li> 
</ul>

Just as it dominates our economy, Big Tech now dominates Fortune’s annual ranking of corporate reputation.

WMAC 2022 41 Merck

Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

The companies on this year's list stand out for celebrating innovation, promoting cooperation, and more.

GPTW New York Large 2022-Merck

Employees say: 
 
“The number of available opportunities/modalities for personal and professional development is truly astounding. Additionally, employees have the opportunity to participate in secondments (away from their hired position) of up to 6 months to work in and learn about another functional area/role. To me, this really emphasizes our company's investment in the PERSON.” 
 
Read the Great Place to Work review .

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Employees say: 
 
“The company work culture is very inclusive and compassionate. Everyone is very caring and makes new people feel welcome. It's also very easy to move around departments and working groups. They put a great focus on professional development and networking for everyone.”

Fortune's annual list dedicated to the idea that business is uniquely suited to address society’s biggest challenges.

CTW.1122.Merck Gardasil

Merck’s Gardasil is a potent vaccine against HPV, a sexually transmitted disease that can cause cervical cancer. But until recently, cost and production constraints limited its reach. Merck has now committed more than $1 billion to expand capacity, with a focus on underserved countries. Merck more than doubled global supply of Gardasil between 2017 and 2020 and is on track to do so again by 2023.

Change the World

This year’s Fortune 500 marks the 68th running of the list.

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Pharmaceutical company Merck fell six spots on the list in its first year with CEO Robert Davis at the helm. But that modest slide masks a successful year in which profits jumped 85%, to $13 billion. Excluding revenue from Organon, the women’s health company whose spinoff was completed in June 2021, Merck’s sales overall increased 17%, including a 20% gain for the company’s hallmark cancer drug Keytruda and a 44% increase in sales for HPV vaccine Gardasil. Merck also registered nearly $1 billion in sales for molnupiravir, an oral antiviral treatment for COVID that received emergency use authorization from the FDA in December 2021.

After a year in which humanity leaned more heavily than ever on tech giants, see which companies topped Fortune's ranking of corporate reputation.

WMAC 2021-37-Merck

Our 2021 list of the 100 best companies to work for, as ranked by their employees. See which companies made the list.

100 Best companies-100-Merck

New to our list this year, this 130-year-old pharma giant has long devoted itself to the mission: “Save and improve lives.” Though Merck shelved its own vaccine development, President Biden announced in March that the company would help produce J&amp;J’s one-shot COVID vaccine. <a href="https://fortune.com/longform/fortune-500-black-ceos-business-history/">When current CEO Ken Frazier departs</a> at the end of June, CFO Robert Davis will take the reins. Employees say that during a difficult year, it meant a lot that Merck managed to increase benefits to employees. That included the addition of “LifeCare” specialists who can provide help in hiring a nanny or search for virtual tutors to support e-learning.The company has “stepped up,” notes an employee.

Total revenue for the world’s biggest companies fell 4.8% to $31.7 trillion this year—the first decline in half a decade.

G500-2021-232-Merck

<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Merck spent much of 2020 developing and testing two COVID-19 vaccine candidates but abandoned the projects in January. The company said in March that it would support the manufacturing and supply of Johnson &amp; Johnson’s COVID-19 vaccine instead. Merck’s worldwide sales increased 2% to $48 billion last year, led by a 30% increase in revenue ($14.4 billion) from its flagship cancer drug Keytruda. Despite the sales growth, Merck saw a 28% decrease in net income in 2020 compared with the prior year. And the numbers in 2021 aren’t exactly flashing green—at least so far: First-quarter sales were flat, and profit declined because of the continuing effects of the pandemic as well as increased competitive pressures for key Merck products. One more challenge for the venerable drugmaker: In June, longtime CEO Ken Frazier steps down after a stellar decade-long run leading the company. He will hand the reins to CFO Robert Davis.&quot;}" data-sheets-userformat="{&quot;2&quot;:14721,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:2,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:11}">Merck spent much of 2020 developing and testing two COVID-19 vaccine candidates but abandoned the projects in January. The company said in March that it would support the manufacturing and supply of Johnson &amp; Johnson’s COVID-19 vaccine instead. Merck’s worldwide sales increased 2% to $48 billion last year, led by a 30% increase in revenue ($14.4 billion) from its flagship cancer drug Keytruda. Despite the sales growth, Merck saw a 28% decrease in net income in 2020 compared with the prior year. And the numbers in 2021 aren’t exactly flashing green—at least so far: First-quarter sales were flat, and profit declined because of the continuing effects of the pandemic as well as increased competitive pressures for key Merck products. One more challenge for the venerable drugmaker: In June, longtime CEO Ken Frazier steps down after a stellar decade-long run leading the company. He will hand the reins to CFO Robert Davis.

These companies foster supportive cultures, where employees find opportunities for growth with help from their colleagues.

Best Large Workplaces New York 2021-Merck

Employees say: 
 
“Sense of approachability to direct management and genuine concern they show for both work and family life. The encouragement to learn and develop talents and abilities is a consistent focus.”

The best U.S. biotechnology and pharmaceutical companies, as ranked by their employees in the past year.

Best Workplaces Biotech Pharma 2021-Merck & Co

Employees say:  
 
“Benefits increased this year in response to the pandemic and I feel incredibly supported - child care, elder care, mental health support and more.” 
 
Read Great Place to Work review .

This year’s Fortune 500 marks the 67th running of the list.

F500-2021-65-Merck

We surveyed tens of thousands of employees to create this list of millennials’ favorite workplaces.

Best Large Workplaces Millennials 2021-Merck

Employees say: 
 
“I appreciate the co-learning attitude within this company. Even though I might be younger and newer, I have the ability to make an impact and have a voice within the group.”

100 Best Large Workplaces for Millennials

For an astounding 13th straight year, Apple claims the top spot in Fortune’s annual ranking of corporate reputation, based on a survey of almost 3,800 executives, directors, and analysts.

This year's Fortune Global 500 generated $33.3 trillion in revenues and $2.1 trillion in profits.

G500-Featured Image-Logo-2020

The pharma giant had a banner year in 2019, climbing 29 slots on the Global 500. Revenue rose almost 11%, to $46.8 billion, while profits leaped 58%, to $9.8 billion. Blockbuster cancer drug Keytruda, as well as an expanded line of animal medicines, have helped power Merck’s growth—though its share price has not seen as much of a lift as some competitors'. In the race to find a vaccine for COVID-19, Merck has adopted a slow pace compared to others in the industry. Rather than tout the company’s progress, CEO Kenneth Frazier has instead criticized industry “hype” and has warned that the process for developing an effective vaccine could take years

This year's Fortune 500 marks the 66th running of the list.

F500-2020-069-Merck

The pharma giant had a banner year in 2019, climbing seven slots on the Fortune 500. Revenue rose almost 11%, to $46.8 billion, while profits leaped 58%, to $9.8 billion. Blockbuster cancer drug Keytruda, as well as an expanded line of animal medicines, have helped power Merck’s growth—though its share price has not seen as much of a lift as some competitors'. More recently, Merck has been notably quiet in medical chatter about the novel coronavirus. But executives on a late April earnings call announced that the company has teams scanning its portfolio of antiviral candidates and vaccine assets for potential treatments.

As we face unprecedented collective challenges, cooperation has become a business superpower.

53.CTW20.Merck

Merck has doubled down on “impact” investing—taking stakes in smaller companies that aim to generate a measurable social good. Its portfolio currently commits about $39 million to entities working on projects including diagnostics, drug and vaccine R&amp;D, and health infrastructure. It’s a future play with present benefits: Merck estimates more than 9 million people benefited from its impact portfolio in 2019.

Here are the World's Most Admired Companies for 2019 as ranked in their industries. See who made the list.

This year's Fortune Global 500 generated $27.7 trillion in revenues and $1.5 trillion in profits.

This year's Fortune 500 marks the 65th running of the list.

Here are the World's Most Admired Companies for 2018 as ranked in their industries. See who made the list.

This year's Fortune 500 marks the 64th running of the list.

Here’s our look at 57 companies that do well by doing good.

Here are the World's Most Admired Companies for 2017 as ranked in their industries. See who made the list.

This year's Fortune 500 marks the 63rd running of the list.

Here are the World's Most Admired Companies for 2016 as ranked in their industries. See who made the list.

This year's Fortune Global 500 generated $27.6 trillion in revenues and $1.5 trillion in profits.

This year's Fortune 500 marks the 62nd running of the list.

Business insiders have spoken: Asked which companies they most admire, more than 4,100 executives, directors, and analysts chose these top 50 All-Stars.

The world's 500 largest companies generated $31.2 trillion in revenues and $1.7 trillion in profits in 2014. Together, this year's Fortune Global 500 employ 65 million people worldwide and are represented by 36 countries.

This year's Fortune 500 marks the 61st running of the list. Wal-Mart claims the top spot again. See who made the list.

Global business is back. After limping through a worldwide financial crisis and economic slowdown, the 500 largest companies ranked by revenues shattered all sorts of performance records in 2013: They racked up combined revenues of $31.1 trillion, up 2.5% from 2012, and profits soared 27% to nearly $2 trillion. China’s 95 companies (up from 89 last year) posted $5.8 trillion in revenues. The U.S. has four fewer companies on the list than last year but remains (for now) the country leader, with 128 corporations on the list—including No. 1 Wal-Mart Stores—reporting $8.6 trillion in revenues. 

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

Change The World

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New Jersey–based Merck was founded in 1891 as the American affiliate of a German parent. Today, as a stand-alone company, it is one of the world’s biggest pharmas by revenue. It has produced numerous blockbuster medications, including the cancer treatment branded as Keytruda, which was the world’s bestselling drug in 2023, earning Merck $25 billion that year. Other high-profile medications have included diabetes treatments and anti-HIV drugs. Merck produces vaccines and has a large animal medicine business as well as a services segment whose offerings include analytics and clinical services.

Q3 2025

Q2 2025

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Q4 2024

Merck (U.S.) (MRK): Company Profile, Stock Price, News, Rankings

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Merck (U.S.)

merck (u.s.)

Thank you for standing by. Welcome to the Merck and Company Inc. Huawei, New Jersey USA Q2 Sales and Earnings Conference Call. At this time, all participants are in a listen only mode until the question and answer session of today's conference. This call is being recorded.

If you have any objections, you may disconnect at this time. I would now like to turn the conference over to Mr. Peter Dannenbaum, Senior Vice President, Investor Relations. Sir, you may begin.

Thank you, Shirley, and good morning, everyone. Welcome to the second quarter twenty twenty five conference call for Merck and Company Incorporated, Rahway, New Jersey USA. Speaking on today's call will be Rob Davis, Chairman and Chief Executive Officer Caroline Litchfield, Chief Financial Officer and Doctor. Dean Lee, President of Research Labs. Before we get started, I'd like to point out that we have items in our GAAP results such as acquisition related charges, restructuring costs and certain other items that we have excluded from our non GAAP results.

There is a reconciliation in our press release. I will also remind you that some of the statements that we make today may be considered forward looking statements within the meaning of the Safe Harbor provision of The U. S. Private Securities Litigation Reform Act of 1995. Such statements are made based on the current beliefs of our company's management and are subject to significant risks and uncertainties.

If our underlying assumptions prove inaccurate or uncertainties materialize, actual results may differ materially from those set forth in the forward looking statements. Our SEC filings, including Item 1A and the twenty twenty four ten ks, identify certain risk factors and cautionary statements that could cause the company's actual results to differ materially from those projected in any of our forward looking statements made this morning. And Company Incorporated, Robin, New Jersey USA undertakes no obligation to publicly update any forward looking statements. During today's call, a slide presentation will accompany our speakers' prepared remarks. These slides, along with the earnings release, today's prepared and our SEC filings are all posted to the Investor Relations section of our company's website.

With that, I'd like to turn the call over to Rob.

Thank you, Peter. Good morning and thank you for joining today's call. We continue to make meaningful progress in delivering our important medicines and vaccines to patients and customers while advancing our innovative pipeline. Over the past few months, we've shared a steady cadence of updates that highlight our strong clinical momentum and our growth is increasingly benefiting from new product launches now underway with more to come. We've also taken additional steps to augment our pipeline.

Our recently announced acquisition of Verona Pharma is another example of acting decisively when science and value align and moving with urgency to achieve our business development objectives. I have increasing confidence that our science driven strategy will continue to generate long term value for shareholders and for all of our stakeholders. Turning to our second quarter results. We delivered performance in line with our expectations with revenue of $15,800,000,000 Results reflect strength across oncology and animal health as well as increasing contributions from our new product launches with RENRYVER achieving $1,000,000,000 of cumulative sales in just over a year since approval. We expect to return to growth in the 2025 and remain confident in our outlook for the remainder of the year.

I'm proud of the tangible progress we're making in expanding and advancing our research program across key therapeutic areas. We're now conducting more than 80 phase three studies across a range of therapeutic areas. And we're increasingly seeing the potential we've long spoken about validated with positive clinical trial results, registrational filings and new product launches. These proof points provide me with growing confidence that we're on track to achieve our ambitions. Moving to some notable recent news.

We announced encouraging top line results from the first two phase three trials evaluating enlicitide, our oral PCSK9 inhibitor for the treatment of hyperlipidemia and for winravir based on the Hyperion study for patients recently diagnosed with PAH. On the regulatory front, the FDA approved and the ACIP recommended Inflonsia for the prevention of RSV in infants younger than eight months of age who are born during or entering their first RSV season. We're well prepared to support families ahead of the upcoming season. Additionally, the FDA has accepted our supplemental BLA for Winrevir in PAH and a new drug application for the fixed dose combination of Diravirine and Nizlotrovir for the treatment of HIV. At the IAS conference earlier this month, we highlighted new findings from our promising HIV pipeline and we're excited about MK8527, which has the potential to be the first once monthly pill for HIV prevention.

We also hosted an investor event to showcase our HIV programs and the important commercial opportunity they represent. Our oncology pipeline continues to break new ground. We marked the tenth earlier stage approval for KEYTRUDA and at ASCO presented encouraging data across multiple novel candidates further reinforcing the potential of our portfolio to help even more patients with cancer. Finally, the acquisition of Verona Pharma brings us Otovair, a novel first in class treatment for chronic obstructive pulmonary disease or COPD that complements our growing cardiopulmonary program and reflects our commitment to transformative science in areas of significant unmet need. Upon closing in the fourth quarter, we'll leverage our commercial capabilities to accelerate OTIVERA's successful launch and look forward to welcoming the Verona Pharma team to our company.

Overall, we are encouraged by our continued progress. Each of these impactful milestones is an important building block as we move toward a more diversified future. As I've said before, our company is entering a period of rapid transformation, which will be marked by meaningful impact on patients and the practice of medicine. And we couldn't be more excited about our future. Over the past several years, we've built the largest and most diverse pipeline in our company's recent history.

We have over 20 new and potential future growth drivers, including the successful recent launches of Winrevir and Cavaxib. We also have numerous novel late phase compounds with potential for significant patient benefit and blockbuster commercial opportunity. Candidates such as enlicitide, telicetibart, Sac TMT and MK3000 to name a few represent potentially profound scientific advances exactly the types of innovations that Merck is known for. We're committed to fully investing behind our pipeline given the tremendous opportunities we see and we'll continue to do so with sharp focus and discipline for the benefit of the patients we serve. Today, we announced a multi year optimization initiative, which will redirect investment and resources from more mature areas of our business to our burgeoning array of new growth drivers, further enable the transformation of our portfolio and drive our next chapter of productive innovation driven growth.

Caroline will provide more detail on this in just a moment. In summary, we're leveraging our scientific expertise to deliver the next wave of innovation that can save and improve lives around the world. My confidence in our ability to successfully navigate the KEYTRUDA LOE period increases with each new launch, data readout and business development transaction. I continue to see the LOE as more of a hill than a cliff and I'm confident in our ability to grow over the long term. I want to thank our talented and dedicated global team for their hard work and commitment to delivering value for patients, shareholders and for all of our stakeholders. With that, I'll turn the call over to Caroline.

Thank you, Rob. Good morning. As Rob noted, second quarter performance was in line with our expectations. I am pleased to again report that the fundamentals of our business remain strong, with continued robust global demand for our diverse, innovative portfolio of human and animal health products. Our commercial and operational execution enables us to generate value in the short term, while we invest in the next generation of innovations and advance our pipeline for the long term to deliver value for all stakeholders.

Now turning to our second quarter results. Total company revenues were $15,800,000,000 a decrease of 2% both nominally and excluding the impact of foreign exchange. As expected, results were impacted by a decline in sales of Gardasil in China of approximately $1,300,000,000 reducing growth by nine percentage points. Excluding these sales, global growth was 7%, primarily driven by strength in oncology and animal health, as well as new products WinRiver and Cafexib, which are each off to an outstanding start. The following revenue comments will be on an ex exchange basis.

In oncology, sales of Keytruda increased 9% to $8,000,000,000 with growth in both US and international markets driven by robust demand for metastatic indications and increased uptake in earlier stage cancers. Usage in tumours predominantly affecting women, including those with certain breast, cervical and endometrial cancers, was a key contributor to growth. In addition, we saw increased use of Keytruda in combination with PADCEF in first line locally advanced urothelial cancer. We also received positive feedback from healthcare providers following the recent launch of a treatment regimen with Keytruda for certain patients with resectable locally advanced head and neck cancer based on keynote six eighty nine. This is the first perioperative anti PD-one regimen approved for treatment of patients with this disease.

Our broader oncology portfolio achieved another quarter of strong growth. Of note, Wellyreg sales increased 29% to $162,000,000 predominantly driven by increased use in certain patients with previously treated advanced renal cell carcinoma in The US. In vaccines, GARDASIL sales were $1,100,000,000 a decrease of 55, driven primarily by China. Excluding China, sales declined 4% due to lower sales in Japan, reflecting the expiration of reimbursement for the catch up cohort and timing of public sector purchases in certain international markets. Sales growth of 2% in The US was attributable to price and higher demand, partially offset by CDC purchasing patterns.

In pneumococcal, Cavaxib sales were $129,000,000 driven by demand from both retail pharmacies and non retail customers, including integrated delivery networks and clinics. We remain well positioned to help protect more adults from invasive pneumococcal disease and drive continued growth moving forward. Vaxnuvanse sales increased 20%. In The US, growth benefited by approximately $60,000,000 from CDC stockpile activity, partially offset by competitive pressures. The benefit to Vaxnuvance was offset by a drawdown of CDC stockpile inventory for Rotatec and Berifex, resulting in a net neutral transaction.

Outside The US, growth in certain international markets was offset by a competitor preferential recommendation in Japan. Following the recent FDA approval and ACIP recommendation, we are excited to have started taking orders for Inflonsia, our monoclonal antibody for the prevention of RSV lower respiratory tract disease in infants entering their first RSV season. Inflonsia's compelling clinical data and operational simplicity make it an important option for parents and providers. We have made great progress in achieving the milestones necessary to help ensure a successful launch and are well positioned to help protect infants from RSV lower respiratory tract disease. In cardiovascular, WinRevair continued its strong momentum with global sales of $336,000,000 As Rob noted, in just fifteen months since launch, cumulative net sales of WinRevare have already exceeded $1,000,000,000 This achievement is a testament to both the impact Rinavir had for patients with pulmonary arterial hypertension and our ability to pair leading edge science with execution excellence, even in disease areas that are new to us.

In The US, more than sixteen hundred new patients received a prescription during the quarter. We are continuing to see a steady increase in the percentage of new prescriptions for patients whose background therapies do not include apostacyclin. Outside The US, we continue to progress with approvals and reimbursement, including in Japan, where we expect a launch later in the third quarter. Overall, the ongoing launch of WinRevair continues to meet our high expectations and we look forward to positively impacting the lives of more patients with PAH. Our Animal Health business delivered very strong growth, with sales increasing 11%.

Livestock growth reflects higher demand across all species, as well as sales from the Aqua portfolio acquired from Elanco. Companion animal sales growth reflects price. Growth in both segments also benefited from improved supply. I will now walk you through the remainder of our P and L and my comments will be on a non GAAP basis. Gross margin was 82.2%, an increase of 1.3 percentage points driven by favorable product mix.

Merck (U.S.) (MRK) Q2 2025 Earnings Call Transcript

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