Merck & Co., Inc.

Merck & Co., Inc. (NYSE: MRK) is a global healthcare company that discovers, develops, manufactures, and markets innovative pharmaceutical products, vaccines, and animal health solutions. The company operates through two primary reportable segments: Pharmaceutical and Animal Health.

The Pharmaceutical segment, which generated approximately 89 percent of total company sales, encompasses human health pharmaceutical products and vaccines. The company's pharmaceutical portfolio includes leading oncology therapies such as Keytruda, an anti-PD-1 immunotherapy used across multiple cancer types including melanoma, non-small cell lung cancer, and head and neck squamous cell carcinoma. The vaccine franchise includes Gardasil and Gardasil 9 for human papillomavirus prevention, ProQuad and M-M-R II for pediatric immunizations, and newer products like Vaxneuvance and Capvaxive for pneumococcal disease prevention. Additional key pharmaceutical products address cardiometabolic conditions, respiratory diseases, virology, neuroscience, and hospital acute care settings.

The Animal Health segment, representing approximately 11 percent of total sales, discovers and markets veterinary pharmaceuticals, vaccines, and health management solutions for livestock and companion animals. Notable animal health brands include Bravecto for parasitic control, Nuflor antibiotics, and Bovilis vaccine lines for livestock, alongside companion animal products and digitally connected identification and traceability solutions.

The company generated total sales of approximately $65.0 billion in 2025, with the Pharmaceutical segment contributing $58.1 billion and Animal Health contributing $6.4 billion. Merck sells its products to drug wholesalers, retailers, hospitals, government agencies, managed healthcare providers, veterinarians, distributors, and animal producers globally.

The company maintains a strong research and development focus, emphasizing technological innovation and external partnerships through licensing arrangements and collaborations. Merck competes in highly regulated, competitive markets characterized by ongoing patent challenges, generic and biosimilar competition, and significant pricing pressures from government agencies and managed care organizations worldwide. The company's competitive positioning relies on its long-standing emphasis on innovation, effective commercialization capabilities, and ability to adapt to evolving healthcare environments and regulatory requirements across diverse geographic markets.