Despite posting strong results in the final quarter of 2025, MSD (Merck & Co) has cut its 2026 guidance more than analysts had expected as the drugmaker prepares for the loss of exclusivity of several of its medicines. MSD reported Q4 global sales of $16.4bn, a 5% increase from the same period in 2024. Full-year sales in 2025 grew 1% to reach $65bn. While year-end results outperformed consensus analyst expectations, investor buoyancy was overshadowed by the 2026 sales forecast. The big pharma company an ...