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 **** 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 ** billion U.S. dollars. Around ** 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 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.

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.

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.

Price-To-Sales-Ratio Time Series for Merck & Company Inc. Merck & Co., Inc. operates as a healthcare company worldwide. The company offers human health pharmaceutical for various areas under the Keytruda, Welireg, Gardasil, ProQuad, M-M-R II, Varivax, Vaxneuvance, RotaTeq, Pneumovax 23, Bridion, Dificid, Zerbaxa, Noxafil, Winrevair, Adempas, Verquvo, Lagevrio, Isentress/Isentress HD, Delstrigo, Pifeltro, Belsomra, Januvia, and Janumet brands. It also provides veterinary pharmaceuticals, vaccines and health management solutions and services, such as livestock products under the Nuflor, Bovilis/Vista, Bovilis Cryptium, Banamine, Estrumate, Matrix, Resflor, Zuprevo, Revalor, Safe-Guard, M+Pac, Porcilis, Circumvent, Nobilis/Innovax, Paracox and Coccivac, Exzolt, Slice, Imvixa, Clynav, Aquavac/Norvax, Aquaflor, Flexolt brands; Allflex Livestock Intelligence solutions; and companion animal products under the Bravecto One-Month, Bravecto Injectable/Quantum, Bravecto Plus, Sentinel Spectrum, Sentinel Flavor Tabs, Optimmune, Nobivac NXT, GilvetMab, Otomax, Mometamax, Mometamax Ultra, Posatex, Caninsulin/Vetsulin, Panacur, Regumate, Prestige, Scalibor/Exspot, Sure Petcare, and Home Again brands. The company has development and commercialization agreement for three of Daiichi Sankyo's deruxtecan ADC candidates; AstraZeneca PLC to co-development and co-commercialize AstraZeneca's Lynparza products for multiple cancer types, and Koselugo for multiple indications; licensed to develop, manufacture and commercialize LM-299, a novel investigational PD-1/VEGF bispecific antibody from LaNova; and collaboration agreement with Eisai Co., Ltd., Bayer AG, and Ridgeback Biotherapeutics LP, as well Moderna, Inc. It has a collaboration agreement with Antengene Corporation Limited to evaluate the combination of ATG-022, a CLDN18.2-targeting antibody-drug conjugate, and anti-PD-1 therapy, as well as KEYTRUDA (pembrolizumab) in patients with advanced solid tumors. Merck & Co., Inc. was founded in 1891 and is headquartered in Rahway, New Jersey.

Days-of-Sales-Outstanding Time Series for Merck & Company Inc. Merck & Co., Inc. operates as a healthcare company worldwide. The company offers human health pharmaceutical for various areas under the Keytruda, Welireg, Gardasil, ProQuad, M-M-R II, Varivax, Vaxneuvance, RotaTeq, Pneumovax 23, Bridion, Dificid, Zerbaxa, Noxafil, Winrevair, Adempas, Verquvo, Lagevrio, Isentress/Isentress HD, Delstrigo, Pifeltro, Belsomra, Januvia, and Janumet brands. It also provides veterinary pharmaceuticals, vaccines and health management solutions and services, such as livestock products under the Nuflor, Bovilis/Vista, Bovilis Cryptium, Banamine, Estrumate, Matrix, Resflor, Zuprevo, Revalor, Safe-Guard, M+Pac, Porcilis, Circumvent, Nobilis/Innovax, Paracox and Coccivac, Exzolt, Slice, Imvixa, Clynav, Aquavac/Norvax, Aquaflor, Flexolt brands; Allflex Livestock Intelligence solutions; and companion animal products under the Bravecto One-Month, Bravecto Injectable/Quantum, Bravecto Plus, Sentinel Spectrum, Sentinel Flavor Tabs, Optimmune, Nobivac NXT, GilvetMab, Otomax, Mometamax, Mometamax Ultra, Posatex, Caninsulin/Vetsulin, Panacur, Regumate, Prestige, Scalibor/Exspot, Sure Petcare, and Home Again brands. The company has development and commercialization agreement for three of Daiichi Sankyo's deruxtecan ADC candidates; AstraZeneca PLC to co-development and co-commercialize AstraZeneca's Lynparza products for multiple cancer types, and Koselugo for multiple indications; licensed to develop, manufacture and commercialize LM-299, a novel investigational PD-1/VEGF bispecific antibody from LaNova; and collaboration agreement with Eisai Co., Ltd., Bayer AG, and Ridgeback Biotherapeutics LP, as well Moderna, Inc. It has a collaboration agreement with Antengene Corporation Limited to evaluate the combination of ATG-022, a CLDN18.2-targeting antibody-drug conjugate, and anti-PD-1 therapy, as well as KEYTRUDA (pembrolizumab) in patients with advanced solid tumors. Merck & Co., Inc. was founded in 1891 and is headquartered in Rahway, New Jersey.

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.

Price-To-Sales-Ratio Time Series for Hansoh Pharmaceutical Group Co Ltd. Hansoh Pharmaceutical Group Company Limited, an investment holding company, engages in the research, development, production, and sale of pharmaceutical products in the People's Republic of China. The company provides products for therapeutic areas, including anti-infection, central nervous system, oncology, and metabolic and other diseases, as well as autoimmune diseases. Its principal products include Ameile, Hansoh Xinfu, Pulaile, Zefei, Xintai, Xinmei, Gainuo, Tanneng, and Pulaitan; Hengmu, Mailingda, Hengsen, Oulanning, Ailanning, and Ameining; XINYUE; and Saint Luolai, Fulaimei, Ruibote, Fulaidi, Fulairui, Punuoan tablets, etc. It has licence agreements with GlaxoSmithKline Intellectual Property (No.4) Limited to develop, manufacture, and commercialize HS-20089 and HS-20093 for the treatment of patients with extensive-stage small-cell lung cancer (ES-SCLC) with disease progression on or after platinum-based chemotherapy; Biotheus Inc. to develop, produce, and commercialize bispecific antibody-drug conjugate product; and with Merck Sharp & Dohme LLC (MSD) to develop, manufacture, and commercialize HS-10535, an investigational pre-clinical oral small molecule glucagon-like peptide-1 (GLP-1) receptor agonist. The company was founded in 1995 and is headquartered in Shanghai, China. Hansoh Pharmaceutical Group Company Limited is a subsidiary of Stellar Infinity Company Ltd.

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.