Here’s Why Merck (MRK) Surged in Q4

Core Insights - Artisan Value Fund outperformed the Russell 1000® Value Index in Q4 2025, returning 4.60% compared to the Index's 3.81% [1] - For the full year 2025, the Fund returned 14.28% versus 15.91% for the Index, demonstrating effective investment discipline over three, five, and ten years [1] Company Highlights - Merck & Co., Inc. (NYSE:MRK) was a leading contributor to the Fund's performance, with shares returning over 20% in Q4 2025 [2][3] - As of March 13, 2026, Merck's stock closed at $115.61, with a one-month return of -5.48% and a 52-week gain of 21.07% [2] - Merck has a market capitalization of $285.833 billion [2] Investment Sentiment - Despite recent setbacks with the Gardasil vaccine, Merck's late-stage pipeline holds significant potential, with multiple programs in clinical development [3] - The market has been skeptical about Merck's innovation capabilities, particularly with concerns over the upcoming patent expiration of its oncology drug Keytruda in 2028 [3] - Merck's strong balance sheet and robust free cash flow provide opportunities for future partnerships, acquisitions, and capital returns to shareholders [3]