Merck(US:MRK)2026-02-03 11:38Sales Performance - Total sales for 2025 reached $65,011 million, a 5% increase compared to $64,168 million in 2024[2] - Total sales for Q4 2025 reached $16,400 million, a 5% increase from $15,624 million in Q4 2024[11] - Global pharmaceutical sales increased to $65,011 million in 2025 from $58,142 million in 2024, representing a growth of 12%[20] - Pharmaceutical sales for 2025 reached $58,142 million, a 1% increase from $57,400 million in 2024[27] - U.S. pharmaceutical sales were $36,510 million in 2025, up from $34,409 million in 2024, an increase of 6%[20] - International pharmaceutical sales decreased to $28,501 million in 2025 from $31,891 million in 2024, a decline of 11%[20] Income and Expenses - Net income attributable to Merck for 2025 was $17,117 million, down 21% from $18,254 million in 2024[2] - Earnings per share assuming dilution for 2025 was $6.74, a decrease of 20% compared to $7.28 in 2024[2] - Income before taxes for 2025 was $19,936 million, a 6% increase from $19,936 million in 2024[2] - Research and development expenses decreased by 12% to $17,938 million in 2025 from $15,789 million in 2024[2] - Selling, general and administrative expenses for 2025 were $10,733 million, a slight decrease of 1% from $10,816 million in 2024[2] - Restructuring costs for 2025 totaled $889 million, with a significant increase from $309 million in 2024[2] Tax and Interest - The tax rate for 2025 was 14.1%, compared to 13.3% in 2024[2] - Interest income for 2025 was reported at $(343) million, an improvement from $(415) million in 2024[30] - Total interest expense for 2025 was $1,357 million, compared to $1,271 million in 2024[30] - Exchange losses increased to $323 million in 2025 from $227 million in 2024[30] - The total net periodic defined benefit plan cost for 2025 was $(615) million, slightly improved from $(633) million in 2024[30] Product Sales Breakdown - Pharmaceutical sales were $14,843 million in Q4 2025, up 6% from $14,042 million in Q4 2024[11] - Keytruda sales increased by 6% to $8,337 million in Q4 2025, compared to $7,836 million in Q4 2024[11] - Alliance revenue from Lynparza grew by 7% to $389 million in Q4 2025, up from $365 million in Q4 2024[11] - Total vaccines sales decreased to $2,364 million in Q4 2025, down 12% from $2,693 million in Q4 2024[15] - Total diabetes sales increased to $579 million in Q4 2025, a 6% rise from $546 million in Q4 2024[17] - Animal health sales increased by 8% to $1,505 million in Q4 2025, up from $1,397 million in Q4 2024[11] - The company reported a 37% increase in Welireg sales, reaching $220 million in Q4 2025, compared to $160 million in Q4 2024[11] - Dificid sales dropped by 68% to $25 million in Q4 2025, down from $79 million in Q4 2024[11] - Keytruda sales rose to $31,641 million in 2025, up from $29,482 million in 2024, marking an increase of 7%[20] - Total vaccines sales decreased to $10,711 million in 2025 from $13,448 million in 2024, reflecting a decline of 20%[23] - Total diabetes sales increased to $2,862 million in 2025, compared to $2,599 million in 2024, showing a growth of 10%[24] - Alliance revenue for Koselugo reached $436 million in 2025, up from $170 million in 2024, indicating a significant increase of 156%[24] - Other revenues from third-party manufacturing and miscellaneous corporate activities were $138 million in 2025, compared to $106 million in 2024, representing a growth of 30%[25] - Sales of Gardasil/Gardasil 9 dropped significantly to $5,233 million in 2025 from $8,583 million in 2024, a decrease of 39%[20] - Winrevair sales surged to $1,443 million in 2025 from $419 million in 2024, reflecting a substantial increase of over 200%[20] - Sales in Japan decreased by 18% year-over-year, with 2025 sales at $2,632 million compared to $3,199 million in 2024[27] - Sales in China dropped significantly by 66%, totaling $1,816 million in 2025 compared to $5,394 million in 2024[27] - Gardasil/Gardasil 9 sales in China were $193 million in 2025, a significant decline from $1,253 million in 2024[28]