The revenue of Merck & Co. increased significantly in 2024, rising from ** billion U.S. dollars in 2023 to ** billion U.S. dollars in 2024. During 2021, Merck spun-off its women’s health, biosimilars and established brands businesses into a new publicly traded company named Organon & Co. Revenues lifted by sales of cancer treatments The majority of Merck’s revenue comes from its pharmaceutical segment, which includes human health and vaccine products. The company’s oncology franchise, which is dedicated to the study of cancer, generates the largest share of its pharmaceutical revenues. Revenues of Keytruda, a drug used to fight cancer, were particularly strong over the last years – increasing by around **** billion U.S. dollars between 2023 and 2024. The importance of investing in innovation Higher sales of Keytruda contributed to the increase in Merck’s revenue in 2024. Developing commercially successful products, such as Keytruda and Gardasil, is essential if Merck & Co. wants to compete in the industry. The company continues to recognize the importance of research and development and has annually invested many billions of U.S. dollars in the search for innovative medicines over the last few years, and a record high of **** billion dollars of R&D spending in 2023.

This statistic shows the net income of Merck and Co. from 2006 to 2024. Merck & Co. is one of the largest pharmaceutical companies in the world. The company is headquartered in Whitehouse Station, New Jersey. In 2024, the company's net income reached a record-high of over ** billion U.S. dollars, the highest amount in the provided period.

Merck & Co.'s annual revenue was $64.17 B in fiscal year 2024. The annual revenue increased $4.05 B from $60.12 B (in 2023) to $64.17 B (in 2024), representing a 6.74% year-over-year growth.

Keytruda is not only Merck & Co.’s top product, but also the best-selling drug worldwide, generating some **** billion U.S. dollars in revenue during 2024. The cancer drug with the generic name pembrolizumab increased its revenues by around *** billion U.S. dollars compared to 2023. Another of Merck’s top-ranked pharmaceuticals based on revenue is Januvia, a drug used to treat type 2 diabetes. Oncology and diabetes are two major focus areas of Merck & Co. Company backgroundMerck & Co. is a global pharmaceutical company with an interesting historical background. Originally a German company, its operations located in the U.S. were confiscated during World War I and established as a new independent American company. The rest of the company - today known as Merck KGaA – is also still active as a chemical-pharmaceutical company. Today, the American Merck is significantly larger than the German counterpart. Merck’s top product KeytrudaOver the last years, Keytruda was ranked first among the top cancer drugs worldwide based on revenue. The oncology market was for years dominated by Roche’s top products, Rituxan, Herceptin, and Avastin, as well as Celgene’s (BMS's) Revlimid. As of today, Keytruda is the global top cancer drug and is expected to keep this position for the years to come.

Brand name pharmaceutical manufacturers in the US are some of the most lucrative in the world. Consumers in the US use and spend more on prescription drugs than any other country, making manufacturers central to meeting this demand and supporting public health. This role was evident during the COVID-19 pandemic, as brand name pharma producers researched, produced and distributed vital vaccines in record time. Aside from vaccine development, domestic manufacturers can attribute rising spending on brand name drugs to several factors, including an aging population, expanding health coverage, new drug approvals and medical advances in expensive specialty areas like rare diseases and oncology. Still, mounting scrutiny facing brand name pharma makers focuses on pricing policies and patent protections, suggesting that the industry’s strong performance indicates monopolistic practices and price hikes rather than rising prescription drug use. In all, revenue has been growing at a CAGR of 5.8% over the past five years to an estimated $302.9 billion, including expected growth of 3.7% in 2025. One of the most notable pieces of regulation to date impacting brand name pharma producers is the Inflation Reduction Act (IRA). Passed in 2022, the IRA introduces multiple provisions impacting the industry, permanently reshaping how pharmaceutical manufacturers will operate. Key provisions of the IRA include Medicare’s ability to negotiate drug prices, rebates for excessive price increases and an out-of-pocket spending cap. While a substantial body of criticism and legal challenges surrounding the IRA exist, it marks the movement to lower drug spending for patients and the federal government. While brand name pharma manufacturers will navigate an evolving environment, the industry’s performance will remain robust. Ongoing R&D investments will yield new, innovative therapies to address unmet needs, bolstering product pipelines. At the same time, an increasing prevalence of chronic illness and a growing number of over 65 adults will support a steep demand for prescription drugs. Merger and acquisition activity seen in recent years won’t slow as incumbents look for ways to diversify pipelines, access new technologies or reach new markets as pressures from patent cliffs and the regulatory landscape mount. Still, revenue growth will be strong, increasing at a CAGR of 3.4% to an estimated $358.1 billion over the next five years

Merck & Co.'s annual net income per employee was $228.23 K in fiscal year 2024. The net income per employeeincreased$223.16 Kfrom $5.07 K(in 2023) to $228.23 K (in 2024), representing a 4,402.01% year-over-year growth.

Explosive growth in biotechnology in recent years can't be understated. What's fueling this rapid growth varies, as biotech's applications range from healthcare and agriculture to energy. COVID-19 brought more attention to biotechnology, as biotech companies were central to vaccine development and reopening the economy. Biotech's potential to develop vaccines shifted the industry's trajectory, with investment reaching unprecedented levels globally and spurring more start-up activity than ever. Sky-high investment began settling in 2022 as higher interest rates moved risk-averse investors away from the industry. While investor uncertainty is alleviating in 2024, many biotechnology companies will still navigate a challenging funding environment. Globally, rising government investment toward biotechnology, specifically regarding R&D, expedited pathways and innovative therapies, helps offset this impact. In all, revenue has been expanding at a CAGR of 2.4% to an estimated $558.8 billion over the past five years, including expected growth of 2.4% in 2023. Research and development (R&D) is critical for biotechnology companies to successfully discover, develop and commercialize new products. Yet, early-stage biotech can't cover the skyrocketing costs of R&D, relying on outside funding for growth instead. Biotech evaded the economic downturn during COVID-19 as investors poured capital into the field, but investment settled as the pandemic went on the back burner in 2022. While interest rate hikes are settling in influential markets like the US in 2024, economic headwinds in nations like China, regulatory pressures and geopolitical tensions foster an uncertain funding environment. Where the biotechnology industry is headed globally will depend on several factors. Biotechnology's potential to slow climate change, accelerate the energy transition and transform healthcare delivery will encourage more government support nationally, regionally and internationally. Developing a robust bioeconomy will also be a central goal of many developed economies, especially as other countries build momentum. Merger and acquisition activity will accelerate as giant multinational pharma companies lose patents to their blockbuster drugs and acquire promising biotechs to augment their pipelines. Industry-wide revenue will continue expanding, rising at a CAGR of 3.4% to an estimated $659.9 billion over the next five years.

Demand for Active Pharmaceutical Ingredients (APIs) and other pharmaceutical substances produced by the Basic Pharmaceutical Product Manufacturing industry depends on consumer demand for pharmaceutical products. Over the past few years, an ageing Irish population has bolstered demand for pharmaceutical products, as pharmaceutical treatments for degenerative illnesses have become more popular. Rising obesity levels and associated health conditions, like diabetes, have also lifted demand for pharmaceuticals. Industry revenue is anticipated to climb at a compound annual rate of 5.9% over the five years through 2024, including a forecast growth of 2.9% in 2024, to reach €16.7 billion. Over the two years through 2021, pharmaceutical product manufacturers' demand benefitted from the COVID-19 outbreak, as APIs were used in COVID-19 vaccine trials and antibody tests collected using blood sampling. Although revenue from COVID-19-related products is in sharp decline in 2024, the high diversification of the industry means industry revenue will continue to grow regardless. Low corporate tax rates have made the country an attractive location for global pharmaceutical manufacturers. Nine of the 10 largest pharmaceutical companies in the world have a presence in the country, making Ireland the world's third largest exporter of pharmaceuticals, according to the UN International Trade Statistics database. Most industry manufacturers are dependent on exports for revenue growth. The industry's global nature has created fierce domestic and export market competition. Low-cost manufacturers in developing countries are often able to outprice domestic producers, so ongoing innovation and product development have been key to ensuring consistent growth over recent years. The continued expanding and ageing Irish population, as well as more establishments being opened in Ireland, will be the driving forces behind industry expansion over the coming years. Industry revenue will rise at a compound annual rate of 6.4% over the five years through 2029, reaching €22.8 billion. Innovation and rapid product development will be crucial to success for new entrants and incumbents, including drugs for age-related illnesses, obesity and effective antibiotics to tackle growing resistance levels. More efficient manufacturing from the wider use of new technologies will also support profit growth.

Animal health biotechnology companies create products – vaccines, medications and food – that safeguard animals' health. Changing attitudes toward companion animals like dogs and cats encourage pet owners to pay premiums for these products. At the same, livestock producers see an invaluable benefit in biotech to protect their animals and investments. Innovative developments created by animal health biotechnology companies have shown the field's potential, leading investors to flock to animal health biotechnology companies. A rapidly expanding animal health market is leading industry-wide revenue to grow at an average annualized 3.1% over the past five years. It is expected to total $14.0 billion in 2024, when revenue will rise by an estimated 0.4%. R&D is crucial for animal health bio companies to successfully discover, develop and commercialize products. Early-stage animal health biotech can't cover the skyrocketing costs of R&D, relying on outside funding for growth instead. During the pandemic, a low-interest rate environment and a surge in pet ownership incentivized investment in animal health biotechnology. But, a higher cost of capital moving forward could change investment activity. Higher interest rates and a potential recession could cause investors to look for safer investments in established companies where a return is more specific. Potential opportunities in animal health biotechnology will bring new companies into the space. Leading incumbents in animal health could pick up the pace of acquisitions to temper competition. Acquisitions allow these companies to expand into new markets and diversify existing product lines, securing their position. While patent protection determines competition for biotech companies, more entrants will curtail profit growth. Regardless, factors driving purchasers of animal health products won't diminish. In all, industry revenue is forecast to grow at an annualized 2.2% over the five years through 2029 to total $15.5 billion.

Over the past five years, the industry has witnessed steady growth. This upward trajectory reflects a robust market that has adapted to changes in demand and operational efficiencies. The industry enjoyed increased revenue, driven by various factors such as technological advancements in catalytic processes and automation. A diverse range of applications for organic chemicals, including pharmaceuticals, plastics and agricultural products, bolstered demand significantly. While market volatility exists, the industry's resilience has been evident. Innovations in green chemistry, including the development of biodegradable polymers, have also contributed to the upward trend. Regulatory changes, such as the 2015 Toxic Substances Control Act reform, mandated stricter evaluations of chemical substances, impacting operations, but companies adapted effectively through compliance strategies. Competition remains intense; however, some companies maintain a competitive edge through strategic investments in research and development focusing on sustainable products. The industry's performance over the past five years has been characterized by a steady increase in profitability, largely attributed to decreasing labor fees through automation and process optimization. The introduction of continuous flow reactors and advancements in energy-efficient distillation techniques significantly improved cost efficiencies. Manufacturers also benefited from the United States-Mexico-Canada Agreement (USMCA), effective in 2020, facilitating smoother cross-border trade and expanding market access. The growing emphasis on sustainability, with initiatives like waste reduction through solvent recovery systems, became a driving force in product innovation and consumer demand. Diversification into bio-based chemicals and renewable resources, such as bioethanol production from lignocellulosic biomass, opened additional revenue streams. Challenges like raw material volatility were mitigated by strategic sourcing contracts and increased use of synthetic alternatives. The presence of multinational corporations enhanced international reach, reinforcing market share. Technological advances, including AI-driven predictive maintenance systems, improved operational efficiency and production quality, supporting revenue growth. These elements combined crafted an industry that effectively navigated economic cycles and external pressures. Organic Chemical Manufacturing industry revenue has been expanding at a CAGR of 3.8% over the past five years and is expected to total $141.2 billion in 2025, when revenue will fall by an estimated 0.4%. Profit has risen because of decreasing labor fees. Looking ahead to the next five years, the industry forecasts a modest revenue increase. Profitability will remain strong because of continued control over labor fees through automation and process optimization. The industry's focus on sustainability and environmentally friendly solutions will continue driving innovation and consumer interest, particularly in the high demand for biodegradable and recyclable materials. Regulations like the European Union’s 2022 Green Deal, targeting carbon neutrality, will require companies to invest in carbon capture and utilization technology. Global trade dynamics, including reshoring manufacturing operations because of geopolitical tensions, will influence supply chain strategies and impact the industry. Investment in advanced manufacturing technologies, such as 3D printing and blockchain for supply chain transparency, will boost efficiency and productivity. As companies adapt to macroeconomic variables and regulatory shifts, new production techniques like biocatalysis are poised to enhance production capabilities. The industry's ability to harness technology and innovation while complying with environmental mandates will shape its long-term success in the global market. Organic Chemical Manufacturing industry revenue is expected to inch upward at a CAGR of 0.2% to $142.4 billion over the five years to 2030.

Keytruda is projected to stay the top-ranked drug worldwide based on sales in 2025, with some 31 billion U.S. dollars. This statistic displays the expected top drugs in 2025 based on sales projections as of December 2024. It has to be mentioned that Novo Nordisk's brands Ozempic and Wegovy are, in fact, the same drug (generic name semaglutide), where only dosage and dose form define if it is used for diabetes or weight loss. It is very similar in the case of Eli Lilly's Mounjaro and Zepbound which are basically one and the same drug (generic name tirzepatide). Oncology's dominance in pharmaceutical revenues Cancer treatments are becoming increasingly crucial in the pharmaceutical landscape. Keytruda's projected sales for 2025 underscore this trend, while the drug's revenue increased by more than four billion dollars between 2023 and 2024. This growth is part of a larger pattern in global oncology spending, which exceeded 250 billion U.S. dollars globally in 2024, almost doubling from five years earlier. The substantial investment in cancer treatments is likely to continue, with major pharmaceutical companies like Johnson & Johnson, AstraZeneca, and Merck expected to be the oncology market leaders by 2030. Market dynamics and company performance Merck & Co. has seen its overall revenue increase to 64 billion in 2024, driven largely by its oncology franchise. The company's commitment to innovation is evident in its record-high R&D spending in 2023. This focus on research and development is crucial for maintaining competitiveness in the industry, as demonstrated by the changing rankings of top-selling drugs. For instance, AbbVie's Humira, once a blockbuster, dropped out of the top 10 best-selling drugs in 2024 due to patent expiration, highlighting the constant need for pharmaceutical companies to innovate and develop new products to maintain their market position.

• The global industry was valued at US$ 1.5 Bn in 2023
• It is expected to grow at a CAGR of 4.0% from 2024 to 2034 and reach US$ 2.3 Bn by the end of 2034

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In 2023, the North American region accounted for over half of the pharmaceutical market revenue worldwide. Since 2010, North America’s revenue share has increased by 11 percent, while Japan’s share has decreased by over six percent. Global pharmaceutical revenue The global pharmaceutical market made a grand total of around 1.6 trillion U.S. dollars in 2023. Worldwide pharmaceutical revenue had seen a steady increase every single year since 2001, when the market’s value was about two-thirds smaller. The largest submarket within this industry has been the United States recently. Pharma and biotech top companies The pharma industry is a large part of the healthcare branch and deals with the development and production of medical drugs. The leading pharmaceutical and biotechnological company according to the latest ranking, in terms of total revenue, was Johnson & Johnson, which generated over 85 billion U.S. dollars in revenue in 2023. Other large American companies in the top ten rankings included AbVie, Pfizer, and Merck & Co.