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.

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.

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.

Merck reported $5.78B in Net Income for its fiscal quarter ending in September of 2025. Data for Merck | MRK - Net Income including historical, tables and charts were last updated by Trading Economics this last December in 2025.

Merck & Co.'s annual net income per employee was - in fiscal year 2025. The net income per employeedecreased$237.74 Kfrom $237.74 K(in 2024) to - (in 2025), representing a -100.00% year-over-year decline.

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

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.

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.

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. Operating pressures have weakened revenue growth, with revenue declining at a CAGR of 0.5% over the past five years to an estimated $271.2 billion, including expected growth of 3.0% in 2025. One of the most notable pieces of regulation to date impacting brand name pharmaceutical 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 exists, it marks the movement to lower drug spending for patients and the federal government. Several oncology drugs, which are major revenue drivers for the industry, are among those included on Medicare’s initial drug price negotiation list. While brand name pharma manufacturers will navigate an evolving environment, robust R&D investments, M&A and innovative therapies will offset these pressures. R&D investments will yield innovative therapies to address unmet needs, bolstering product pipelines. At the same time, an increasing prevalence of chronic illness and a growing number of adults over 65 will support a steep demand for prescription drugs. Merger and acquisition activity seen in recent years won’t slow down 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. The success of new drug classes like GLP-1 receptor agonists will shape the industry, with these therapies driving demand in diabetes and obesity treatment. At the same time, trade tensions and bipartisan pressure to reshore pharmaceutical manufacturing will prompt companies to revisit supply chains and domestic production strategies in response to geopolitical risk and tariff policies. Overall, revenue will expand, increasing at a CAGR of 3.2% to an estimated $317.0 billion over the next five years.

In 2024, the pharmaceutical company Cardinal Health Inc was the German biotech and pharmaceutical company with the highest revenue of *** billion U.S. dollars. In second place was Merck & Co Inc with a revenue of ***** billion U.S. dollars.

In 2024, the North American region accounted for over half of the pharmaceutical market revenue worldwide. Since 2010, North America’s revenue share has increased by over ** percent, while Japan’s share has decreased by nearly ***** percent. Global pharmaceutical revenue The global pharmaceutical market made a grand total of around *** trillion U.S. dollars in 2024. 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 roughly ** billion U.S. dollars in revenue in 2024. Other large American companies in the top ten rankings included AbbVie, Pfizer, and Merck & Co.

The top five pharmaceutical companies based on projected global oncology revenue in 2030 include Johnson & Johnson, AstraZeneca, and Roche, to name a few. Roche’s oncology products are expected to generate some ** billion U.S. dollars in that year.Oncology pharmaceuticals Among U.S. oncology brands in 2023, Merck’s Keytruda was the top revenue generating oncology brand. Also, globally, Keytruda was the top oncology product in 2023. There are many new cancer drugs in development. Drugs against cancer are by far the largest therapeutic group of products in the R&D pipeline worldwide.Cancer prevalence and treatments The U.S. and leading EU countries had the highest prevalence of diagnosed cancer cases globally as of 2019. Among all types of cancer, trachea, bronchus and lung cancer are the deadliest, followed by liver cancer. The availability of cancer treatments varies around the world. The U.S. and Germany had the largest number of new medications for cancer available.

Johnson and Johnson is a leading international pharmaceutical company. In 2024, among its top pharmaceutical products was Darzalex which earned some **** billion U.S. dollars of revenue. Darzalex is a drug used in the treatment of multiple myeloma and light chain amyloidosis. International pharmaceutical companies There are several major pharmaceutical companies that are making significant economic impacts globally. In 2023, Johnson & Johnson, AbbVie, and Novartis were the top pharmaceutical companies based on their prescription drug sales globally. When viewed by market capitalization, Johnson and Johnson was the third ranked global pharmaceutical company, as of 2024. Top pharmaceuticals The global pharmaceutical industry showed significant growth of revenues over the past two decades. Globally, oncology, diabetes and immunology are considered the top therapeutic areas for future growth. In 2023, when covid vaccines are excluded, Humira by AbbVie, Keytruda by Merck & Co. and Ozempic by Novo Nordisk were the top drugs based on sales worldwide.

Bayer AG is an international pharmaceutical and agriculture company. In 2024, their top pharmaceutical product was once again Xarelto, a blood clot reducing medication used in the treatment of coronary artery disease. In that year, Xarelto generated around *** billion U.S. dollars in revenues. The second-highest revenue generating pharmaceutical for Bayer was Eylea, which generated about *** billion U.S. dollars at that time. Bayer’s company profile Bayer is a German pharmaceutical and agriculture company with several segments such as Pharmaceuticals and Crop Science. Bayer operates on a global level. The company’s largest revenue-generating segment is Crop Science, followed by the Pharmaceuticals segment. Bayer is among the top 20 pharmaceutical companies globally based on prescription drug revenue. Global pharmaceuticals The top pharmaceutical companies based on research and development expenses include big names such as Roche, Johnson & Johnson, and Merck & Co. These companies rely heavily on the research and development of new drugs. Currently, the top pharmaceutical products globally include Merck's Keytruda and Novo Nordisk's Ozempic. The worldwide pharmaceutical market has been growing steadily recently, and estimates suggest that there will be many new opportunities for these top companies to develop new drugs.