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.

The revenue of Merck & Co. increased significantly in 2024, rising from 60 billion U.S. dollars in 2023 to 64 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 five 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 30.5 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., Inc. (MRK) financials: detailed Income Statement, Balance Sheet, Cash Flow, 10 years of revenue, net income, EBITDA, and key ratios for smart investing.

Merck and Co. generates the majority of its worldwide revenue from its pharmaceutical operating segment. Sales from the company’s oncology business, which focuses on drugs that treat cancer, accounted for the ******* single share of its pharmaceutical revenue in 2024. Revenues boosted by sales of cancer treatments Merck & Co. is a global healthcare company that generated over ** billion U.S. dollars in total revenue in 2024. The company has two reportable operating segments: pharmaceutical and animal health. The pharmaceutical segment is split into nine franchises - or therapeutic areas; oncology generated some **** billion U.S. dollars in 2024 – a significant increase compared to the previous year. Sales of cancer drug Keytruda were particularly strong and increased from *** billion in 2018 to nearly ** billion U.S. dollars in 2024. An overview of Merck’s global operations The corporate headquarters of Merck & Co. is located in New Jersey, and the company’s domestic market is the region that continues to generate the most of its revenue. Outside the United States, Merck & Co. has operations in Europe, the Middle East, Africa, Asia Pacific, and Latin America. The company’s sales in China fluctuated between 2021 and 2024. Operating business strategies in emerging markets, such as China, can come with challenges, but they offer huge potential for growth over time.

In 2024, half of Merck & Co.’s total revenue was generated from the company’s domestic market in the United States. Sales revenue in the Asia Pacific region, when including China and Japan, stood at 11.8 billion U.S. dollars. Emerging markets: the risks and rewards Merck’s business operations in China fluctuated recently. However, investment in emerging markets can come with an element of risk due to the financial instability of domestic economies: companies may face barriers in the form of trade restrictions or pricing controls, for example. A failure to operate in these markets could negatively impact the future of the business, but there are no guarantees that efforts to expand will succeed. Why are drug patents important? The cancer-fighting drug Keytruda was Merck’s top-selling product in 2024, generating sales revenue of approximately 30 billion U.S. dollars. Around 60 percent of the Keytruda sales were generated in the United States, where the product has key patent protection until 2028. Patents can cover the marketing of a product, but also its pharmaceutical formulations and the processes involved in its manufacture. The expiration of a patent normally results in significant competition from generic versions, which can quickly impact the revenues of a product.

Merck reported $4.43B in Net Income for its fiscal quarter ending in June of 2025. Data for Merck | MRK - Net Income including historical, tables and charts were last updated by Trading Economics this last October in 2025.

Keytruda is not only Merck & Co.’s top product, but also the best-selling drug worldwide, generating 29.5 billion U.S. dollars in revenue in 2024. The cancer drug with the generic name pembrolizumab increased its revenues by around 4.5 billion U.S. dollars compared to 2023.

Keytruda is not only Merck & Co.’s top product, but also the best-selling drug worldwide, generating some 29.5 billion U.S. dollars in revenue during 2024. The cancer drug with the generic name pembrolizumab increased its revenues by around 4.5 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.

In 2024, Merck & Co. reported R&D expenditures of 17.9 billion U.S. dollars. American pharmaceutical company Merck & Co. increased its research and development (R&D) expenses significantly during the pandemic years 2020-2022 to approximately 13.5 billion U.S. dollars. However, 2023, saw a massive increase up to 30.5 billion dollars, mostly due to higher charges for business development transactions and increased development spending particularly in the therapeutic areas of oncology, cardiovascular, infectious diseases and vaccines. Finding a cure for rising research costs To increase the quality of its innovation, Merck & Co. has entered into arrangements with other companies, and lower payments made to its collaborative partners was one reason for the reduction in R&D costs in 2018. But in the course of the following two years, R&D spending became again increasingly important and reached a record high of 30.5 billion dollars in 2023. In 2024, Merck & Co. had approximately 75,000 employees worldwide, with around one fifth employed in research activities. How much does the pharma industry spend on research? Merck & Co. is a member of the trade group PhRMA (Pharmaceutical Research and Manufacturers of America). Members of the group spent a collective 96 billion U.S. dollars on R&D in 2023, with expenditure within the United States accounting for a share of around 75 percent. The pharmaceutical industry is one of the biggest investors in R&D: PhRMA members spent over 21 percent of their consolidated worldwide revenues on R&D in 2023.

View yearly updates and historical trends for Merck & Co. Inc. (MRK) - Animal Health Revenue. from United States. Source: Fiscal.ai. Track economic data w…

In 2024, pharmaceutical company AstraZeneca spent 24 percent of its prescription drug revenues on research and development. Mostly, big pharmaceutical companies reinvest between one fifth and one third of their revenues on research and development. Global R&D spending In 2024, the pharmaceutical industry spent over 300 billion U.S. dollars on research and development. By 2030, expenditures are expected to reach a total of over 360 billion U.S. dollars. Nearly 24,000 prescription drugs were in the global R&D pipeline as of early 2025, a number that has been growing with each consecutive year. AstraZeneca AstraZeneca is a British-Swedish multinational pharmaceutical company, based in Cambridge, United Kingdom. One of the company’s top products in 2024 was Tagrisso, which is used in the treatment of certain types of non-small cell lung carcinoma. The product generated 6.6 billion U.S. dollars in revenue that year. Revenue earned through Tagrisso has increased significantly over the last years.

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.

Merck & Co. is a global health care and pharmaceutical company that is headquartered in Kenilworth, New Jersey in the U.S. The company operates globally. In 2024, the company had a total of around 75 thousand full-time employees. The number of employees at the company has been on the decline since 2009 when the company experienced their largest number of employees. At that time, Merck & Co. had around 100 thousand employees globally. Merck & Co. company profile Today the company works in various fields and within the scope of various illnesses. There are segments in human health and vaccines, and animal health. Merck & Co.’s global revenues have been variable lately, but as of 2024, data indicates that revenue figures are increasing. Despite a recent growth in revenues for the company, Merck & Co.’s total assets have been on the decline for several years. However, there was a significant increase from 91.6 billion dollars in 2020 to 109 billion in 2022. Products by Merck & Co. As of 2021, Merck & Co. held the fifth-largest share among companies dominating the global vaccine market. Other top companies in that year included GlaxoSmithKline, Sanofi and Pfizer. Merck & Co. continues to be among the top pharmaceutical companies, especially through sales of its cancer drugs. In 2024, Merck & Co.’s top-selling pharmaceutical product was Keytruda, an immunotherapy used to treat certain cancers.

This statistic shows the capital expenditures of the pharmaceutical company Merck and Co. from 2009 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 capital expenditures amounted to around 3.4 billion U.S. dollars.

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.